5. Tips for Conducting a PEST Analysis

A PEST analysis considers the macro factors that can impact an industry or organization, including the Political, Economic, Socio-Cultural, and Technological environment. These factors are often beyond an organization’s control but still hold the potential to impact a field or industry. A PEST analysis offers a more comprehensive examination of the external environment for an organization compared to a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis that is more focused on an organization’s strengths and weaknesses.  

Tips for Conducting a PEST Analysis (.pdf)