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Often these are the focus of external environment analysis.
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The economic outlook is of extreme importance for a business, but the importance of the other pest factors should not be overlooked. Often these are the focus of external environment analysis. It is a tool for a stronger, better, software project. This video will go over how to do a pest or #pestle analysis as part of your #trendanalysis process looking at the trends outside of your organization will. Pest is an acronym for political, economic, social and technological factors, which are used to assess the market for a business or organizational unit.
Issues to be considered include tax guidelines, copyright and property law enforcement, political stability, trade regulations, employment.
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Pest analysis helps in planning:
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Take the example of amazon pest ex. For example, pestel analysis often degenerates into long lists of 'things' without context, relevance or evidence.