3 change usually, problems within the companies are a result of lack of relationship and contact between clients (wilkinson, 2001) clients are in order to face changes, management in the 21st century is founded on networks, partnering and on technological advance (jamali, 2005) 4 pest analysis in analyzing the. There are other marketing approaches that wilkinson would have employed, apart from marketing research, in examining the firm's future growth strategies one of these alternative approaches is situational analysis this approach entails examining the company's internal and external environment (ferrell,. Pest analysis describes a framework of macro-environmental factors used in the environmental scanning component of strategic management it is part of an external analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into.
As an entrepreneur, you can try to predict how your products or services will resonate with the public however, there will always be factors outside of your control that affect how your business operates one method for discovering and quantifying those factors is the pest analysis pest is an acronym for. Pest stands for political, economic, social and technological impact on a company there are people who will roll their eyes and believe that a pest analysis is just another exercise in data for geeks it isn't what the pest analysis is intended to do is give decision-makers an understanding of changes that may be.
Definition: pest analysis is a measurement tool which is used to assess markets for a particular product or a business at a given time frame pest stands for political, economic, social, and technological factors once these factors are analysed organisations can take better business decisions description: pest analysis.