BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Many companies use a political, economic, social and technological (PEST) analysis to get a better assessment of their business environment and to understand external threats and opportunities.

Detailed explanation-2: -PEST Analysis (political, economic, social and technological) is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market. As described by the acronym, those four areas are central to this model.

Detailed explanation-3: -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.

Detailed explanation-4: -These include: SWOT (strengths, weaknesses, opportunities, threats) analysis. PESTLE (political, economic, social, technological, legal and environmental) analysis.