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Which of the following best describes a PEST analysis?

Practice Questions

Q1
Which of the following best describes a PEST analysis?
  1. A method to analyze internal company resources
  2. A framework for assessing external macro-environmental factors
  3. A tool for measuring employee satisfaction
  4. A strategy for product development

Questions & Step-by-Step Solutions

Which of the following best describes a PEST analysis?
  • Step 1: Understand that PEST stands for Political, Economic, Social, and Technological factors.
  • Step 2: Recognize that PEST analysis is a tool used to look at these four areas.
  • Step 3: Identify that this analysis helps businesses understand the external environment they operate in.
  • Step 4: Realize that by using PEST analysis, companies can make better strategic decisions.
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