Strategic Business Analysis and Market Growth Models
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Strategic Methods for Accessing Information
Three key ways to assess changes in a company are (1) PEST analysis (political, economic, social, and technological), (2) scenario analysis, and (3) trend analysis. In answering this question, the clear distinction between PEST and SWOT should be demonstrated.
The PEST analysis provides insights into trends that may be important to an industry or an economy. PEST has variations, including:
- PESTLE (PEST + legal and environment)
- STEP (social, technology, economy, and politics)
- PESTILI (PEST + industry analysis)
- STEEPLED (PEST + ecological or environmental, ethical, demographic, and legal)
The PEST analysis provides a foundation for other analyses, such as trend analysis. While PEST focuses on external environmental
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