What Are the Different PEST Analysis Political Factors?
PEST analysis refers to the analysis of the macro environment, P is politics, E is economy, S is society, and T is technology. When analyzing the background of an enterprise group, it is usually through these four factors to analyze the situation facing the enterprise group.
PEST analysis
- PEST analysis refers to the analysis of the macro environment, P is politics, E is economy, S is society, and T is technology. When analyzing the background of an enterprise group, it is usually through these four factors to analyze the situation facing the enterprise group.
- To carry out PEST analysis, you need to have a large amount of sufficient relevant research data, and have a deep understanding of the enterprises being analyzed; otherwise, such analysis will be difficult to continue. Economic aspects include economic development level, scale, growth rate, government revenue and expenditure, and inflation rate. Political aspects include political systems, government policies, national industrial policies, and related laws and regulations. Social aspects include population, values, and moral standards. In terms of technology, there are breakthroughs in high technology, process technology and basic research. [1]
- Political Factors
- Economic Factors
- Key strategic elements that make up the economic environment: GDP, interest rate levels, fiscal
- Sociocultural Factors
- The biggest impact is
- Technological Factors
- The technological environment includes not only inventions, but also new technologies, new processes, the emergence and development trends of new materials and application backgrounds related to the enterprise market.
- 1. Does technology reduce costs and improve quality of products and services?
- 2. Does technology provide consumers and businesses with more innovative products and services, such as online banking and next-generation mobile phones?
- 3. How technology is changing distribution channels, such as
- PEST analysis is strategy
- Sometimes, extended deformation forms of PEST analysis are also used, such as SLEPT analysis and STEEPLE analysis. STEEPLE is an abbreviation of the English word for the following factors: Social / demographic, Technology, Economic, Environmental Natural (Natural), Political (Political), Legal (Legal), Ethical (Ethical).
- In addition, Geographical Factor can sometimes have a significant effect.
- More extensions
- PESTLE / PESTEL Analysis-Political, Economic, Sociological, Technological, Legal, Environmental
- PESTLIED Analysis-Political, Economic, Social, Technological, Legal, International, Environmental, Demographic
- STEEPLE Analysis-Social / Demographic, Technological, Economic, Environmental, Political, Legal, Ethical
- SLEPT Analysis-Social, Legal, Economic, Political, Technological