Examples Of Pest Analysis

Introduction:

A frequent topic of dissection in business: Is tools that can impact business projects positively. this essay will explain further by talking firstly about PEST analysis and SWOT analysis. Secondly, political and economic factors that might be involved in business and finally, factors which can impact business generally.

1- PEST ANALYSIS

PEST means Political, Economic, Social, Technological, Environmental and legal. Traditionally PEST analysis was known as the PEST analysis. Came into being by splitting the social part of the PEST into environmental and economic element legal element as these factors have an important role in the strategic management.(palmer and Hartley,2012). Few of the well-known examples of PEST are: The growth

A SWOT analysis guides to identify organizations pros and cons, as well as further opportunities and threats. Developing a greater awareness of the situation can be useful with both strategic planning and decision-making. The SWOT tool was originally developed for business and industry, in addition, it is equally helpful in the work of community health and development, education, and even for personal growth. (Ctb.ku.edu, 2018). There are many SWOT analysis examples in life such as history of collaboration, attention of internal and external investors and neighborhood with a proud history. (Ctb.ku.edu, 2018) Businessmen of SWOT analysis must ask and answer questions that create meaningful information to make the analysis useful and find their competitive advantage. First, decision-makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable, they must chose a different objective and repeat the

3- The effect of political and economic factors on business:

Political factors that affect businesses include new legislation such as the national minimum wage and setting TAX rates such as VAT or corporation tax. As tax can be affected by how the economy of the state is ,as you can see when the economy is collapsing the tax rates are usually increased in order to gain what is lost by the collapse . Economic factors that affect firms are inflation and unemployment, interest rates and exchange rates if importing or exporting goods abroad.

(http://www.bbc.co.uk/bitesize/higher/business_management/business_enterprise/business_contemporary_society/revision/14/)

4- Current factors which might affect businesses now and in the future:

Nowadays, The problem of Qatar with most gulf countries influenced on business, those countries stopped the import exchange which made the state of Qatar to make a deal with Iran and Turkey to get imports at more expensive price, Also Trump when he said that “ Jerusalem is a capital of Israel “ it affected the economy as many of the countries who opposed this stopped interacting with the US market which caused them to have a to lose some of their financial customers (B2B) . In the future, The main factors are the global wars will impact on the world businesses as well as cutting off the relations of countries and natural disasters,