How to Conduct a PEST Analysis? Main Steps and Tips

PEST Analysis
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How to Conduct a PEST Analysis? Main Steps and Tips

Is there a specific way in performing a PEST analysis, or is there no particular order?
I really want a guideline as to how I should perform a PEST analysis. Any other practical tips are also welcome...

  Lakshman Srikanth
Student (MBA), India
 

PEST Analysis - no Particular Order

According to me, there is no particular order or specific way. Just make sure all the relevant data are included. P-E-S-T: whichever way you do it, will be useful.
But PEST would vary according to the product/service/unit for which it is done. For example political for cigarette sales may play an important role, while for coal combustion, technology might play a more important part.
So besides our strategic environment, PEST also allows us to understand our product/service/unit better.

 

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