Examples Of Pestle Analysis In Business

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A PEST analysis is a business measurement tool. PEST analysis is simple and widely used tool in order to help you analyse and understanding market growth or decline in business environment. PEST analyse refer to Political, Economic, Social and Technological factors. These four factors can affect the organisation and the prevailing factors in the present scenario. The political arena has a powerful influence upon the regulations of business and the ability of expenses of consumer and other businesses. The economic environment factor is a direct influence on all businesses. As we know from our lesson in the marketing environment there is microenvironment, and internal environment is a microenvironment. The sociocultural environment shows that everything which in related with social and cultural within a nation or society. For example like the attitudes and opinions of consumer or the media views. Moreover, technological factor is refers to competing technology development. Nowadays, the advance and maturity of technology has a huge effect in business world either positively or negatively impact. PEST analysis identifying and analysing the external factors gives an overview of the universal conditions and…show more content…
Usually, there is no culture or mores which are against the oil and gas industry. The worker work in relaxing working hours and for the professional and skilled workers can get the higher salary such as the chief engineer, captain or master of the ship. Most of the population assume this industry like a necessary for development and will improved living standard in future (Academic Sample Papers, 2015). Anyway, some of the people will think that the oil and petroleum industry is a main source of pollution the environment. Thus, they think that government should take an action upon the creation of pollution and start the law for pollution reduction. (UKessays,

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