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External environment, PEST analysis is a strategic planning tool that…
External environment
the composition and demographic data of the population you are targeting to understand how capable the company is to compete in the market.
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This step considers the specific role of technology and its development in an organization and industry, as well as broader technological trends and uses that affect society as a whole.
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Economic factors have a significant impact on the way a company does business and its profitability.
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PEST analysis is a strategic planning tool that helps organizations identify and evaluate threats and opportunities for the business, it describes four main external factors that influence the business environment:
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deal with the management of demand in a given economy. Governments use the control of interest rates, fiscal policy and public spending as the main mechanisms they use to achieve this.
have to do with how people spend their income. This has a huge impact on B2C organizations in particular.
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