BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Affects performance and working of the company
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To understand the market growth or decline
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offering little cost
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Detailed explanation-1: -PEST Analysis is a simple and widely used tool that helps you to analyze the Political, Economic, Socio-Cultural, and Technological changes in your business environment.
Detailed explanation-2: -When should you use a PEST analysis? Use a PEST analysis to evaluate how the decisions your company makes or the direction in which your company wants to move fits in within the very real influencing factors of the outside world.
Detailed explanation-3: -A PEST Analysis is a framework used to determine the political, economic, social and technological factors that could affect a business now and in the future. It’s meant to help a company’s leadership predict oncoming shifts in their market and develop strategies to adapt.