Pest Analysis of Textile Industry

The key factors that drive change in health and social care services are mostly known through SWOT and PEST analysis. PEST is an acronym for political, economic, social and technology. PEST analysis investigates the important factors that are affecting the industry and influencing the companies operating in the health and social care. PEST analyses are external factors and when legal and environment are added it becomes PESTLE analyses.

PEST is creation for Political, Economic, Social and Technological. This investigation is utilized how these four external factors influence to business circumstance. Essentially, a PEST investigation helps you decide how execution and exercises are

Political: this inturns the legislation and government rules of the country that may influence and pose as a threat to the business,

PESTEL analyses is a tool that many firms use to assess the factors that may affect the company and try to anticipate risk posed by those factors. PESTEL is an anagram for; Political, Economic, Social, Technical, Environmental and legal factors.

PEST analysis will be able to be utilized to help detect trends in the external environment that will eventually discover their method into the competitive environment. It gives a relation between the general and competitive environments in that weak signals in the general

Political –how changes in government policy might affect the business, like a decision to subscribe building new houses in an area could be good for a local brick works.

PESTEL analysis is widely used to better understand the external environment of the company. The acronym PESTEL stands for political, economic, sociocultural, technological, environmental, and legal factors. PESTEL analysis helps managers better understand the threats and opportunities a company faces.

It is clear from the list above that political factors often have an impact on companies and how they do business. Organisations need to be able to respond to the current and anticipated future legislation, and alter their marketing policy appropriately.

PEST is an acronym used for companies with in the political, economic, social and technological views. PEST allows companies to view and observe certain areas that might have been overlooked. The company I will be discussing the PEST analysis is Target. Target is a large scale company and is constantly changing in the industry. The political views of Target is that they must have an unbreakable bond with China due to majority of its products coming from that country. They must be aware and stray away from any conflicts because it can create a negative affect in the operation of Target. Also the company is altered by taxation, tariffs, cost, and trade restrictions especially when they're trying to broden outside the United States. The economic

PEST analysis is an imperative strategy tool used for a company, mainly to oversee and assists in project management. PEST analysis stands for the political, economic, social and technological factors of an organization. This tool is used as an aspect of an organization's competitive strategy to analyze and assess the critical external factors that may positively or negatively impact the organization (Kadlubek, 2016). When a PEST analysis is performed, the external factors are analyzed and monitor the external marketing environment. A company may consist of several external factors that can bolster or impede the development of an organization; therefore, it is beneficial and more productive to subdivide the external analysis into more feasible segments (Frederick, Agnes and John, 2011).

2. Richard M. Johns (2006). The Apparel Industry. 2nd ed. UK, London: Blackwell Publishing Ltd.. 1-124.

Also known as PEST, from here the analyses of PEST can help the company to see what will they be experiencing and expecting on how they will manage the market performance.

Political environment – The processes of national, regional and local governments, as well as various power groups that can affect the rules for doing business. This can include government intervention in particular industries, tax policies at all levels, government expenditures for certain causes, legislation aimed at implementing social policy, and regulation of various industries and trade practices.

The PEST analysis is more of long-term analysis that can help determine how Political, Economical, Social, and Technological change will affect the performance and activities of a business.

In PEST analysis, we will look into what will be affect by the business environment. It includes political environment, economical environment, social environment and technological environment.