PEST Analysis

PEST Analysis is a tool used to evaluate the external environment in which a business operates, focusing on four key areas: Political, Economic, Social, and Technological factors. - **Political** refers to government policies and regulations that can impact business operations. - **Economic** looks at economic conditions like inflation, unemployment, and economic growth that influence consumer purchasing power. - **Social** examines societal trends, demographics, and cultural factors affecting consumer behavior. - **Technological** deals with innovations and advancements that can alter how businesses operate and compete. By analyzing these factors, businesses can better strategize and make informed decisions.