Pest Analysis
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Royal Dock Business School
Course: BA (Hons) in Accounting and Finance
Module Name: Organisations Management and People
Module code: HR 1004
Id : 105353
Pest analyses, also partially known as “STEP”, has always been undertaking a vital role to every dynamic of all business organisations. Each and every organisation has to undergo involvement and interference of certain factors relating political, environmental, social and technological factors (PEST). These factors may contain striving from other companies, price variation, unreliable raw material supplies, government regulation and also ecological catastrophes, According to “MANAGEMENT CONCEPTS & PRACTICES” BY Tim Hannagan fifth edition.
Pest analyses are involved with the behaviour of aggregate economy and the factors are extremely crucial and should be taken into consideration in every position of business.
A strategic development and a structure of any business organisation is highly likely to be affected by political factors in almost every cases, as government interference is captivating by the rules and regulation when an organisation operates in that particular country or nation. In addition, Every business should keep themselves up to date in terms of new government rules which might effect the business organisation. For example, Kfc and few other fast food shops were fined by the government in Bangladesh as they have failed to maintain the features obligated within the health, safety and hygienic rules. Another practical example for instance would be Sony Corporation approaching to promote by creating a profile globally and preparing employees by Advanced Global Leadership Programme, hence to gain their goal they had to go through and follow rules that are considered by the government in that particular country or nation.
The economic environmental issues of an organisation connect with the economic system of the country in which the
[pic]
Royal Dock Business School
Course: BA (Hons) in Accounting and Finance
Module Name: Organisations Management and People
Module code: HR 1004
Id : 105353
Pest analyses, also partially known as “STEP”, has always been undertaking a vital role to every dynamic of all business organisations. Each and every organisation has to undergo involvement and interference of certain factors relating political, environmental, social and technological factors (PEST). These factors may contain striving from other companies, price variation, unreliable raw material supplies, government regulation and also ecological catastrophes, According to “MANAGEMENT CONCEPTS & PRACTICES” BY Tim Hannagan fifth edition.
Pest analyses are involved with the behaviour of aggregate economy and the factors are extremely crucial and should be taken into consideration in every position of business.
A strategic development and a structure of any business organisation is highly likely to be affected by political factors in almost every cases, as government interference is captivating by the rules and regulation when an organisation operates in that particular country or nation. In addition, Every business should keep themselves up to date in terms of new government rules which might effect the business organisation. For example, Kfc and few other fast food shops were fined by the government in Bangladesh as they have failed to maintain the features obligated within the health, safety and hygienic rules. Another practical example for instance would be Sony Corporation approaching to promote by creating a profile globally and preparing employees by Advanced Global Leadership Programme, hence to gain their goal they had to go through and follow rules that are considered by the government in that particular country or nation.
The economic environmental issues of an organisation connect with the economic system of the country in which the