Political- we must know the regulatory or the policies of the places because each country have a different policies, the opportunities that we will get from the country policies or that been given by the government of the country, the politic environment at that place because as we know unhealthy politic or chaos politic like Middle East will not attract many investor to invest at that places.
Economical- take note what are the economical trends at the places, a marketing plan that surely will attract customer to buy the products, market industry cycle, taxation, inflation rate, exchange rate and more.
Technological- should consider the rate of the technology change at the places, R&D, associated and replacement technology, intellectual property issues, technology legislation, innovation potential and more.
Social- the populations of the places, their lifestyle trends, consumer behavior of the folks/citizens, the most views or use media, ethical issues and more that related to the social.
Why we need to do this analysis?
PEST is a factor that will help the company in understand the ground of the environment that the company would like to venture. Therefore, the company can strategize their business by taking the opportunities, reducing the risk and more.
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