You are getting...
- Meaning of Pest Analysis
- Definition of Pest Analysis
- Explanation of Pest Analysis
- Explanation of the Elements of Pest Analysis
Some Random Terms...
Pest Analysis: Pest Analysis has been derived in order to fulfill the limitation of SWOT analysis.
Actually we can say that pest analysis has been design by keeping in head the limitation of the analysis of SWOT about the uncovered environmental elements in more broad spectrum.
That's why Pest analysis is also important along with SWOT analysis for an organization. It is also a managerial tool which help the management to perform well.
The word PEST is consisted of four different alphabet which indicates for each word as follows as...
P= Policatal
E= Economic
S= Socio-cultural
T= Technological
So, by observing above elements, we can assume that PEST ANALYSIS is the analysis of the external element of the business environment.
So, we can easily assume the importance of the pest analysis along with swot analysis. Because, swot analysis gives ideas of some aspects and pest analysis gives ideas of some external elements of the environment. So, both are important for taking managerial decision.
