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What is a PEST analysis?

주제 찾아보기

Creating a great product isn’t enough to succeed in the business world — you need to have a plan for the future. It’s essential to use data and research to identify trends and determine how they relate to or impact your business. Armed with that knowledge, you can lay out a plan to protect your business against potential threats and remain flexible.

A PEST analysis is one of the best ways to get a complete overview of the external factors that impact your business. Whether you run a local business or a massive corporation, changes in politics, the economy, social climate, and technology significantly impact your business. These factors play a key role in decision-making by helping you identify threats and weaknesses.

Whether you’re just starting a business or trying to master strategic planning, a PEST analysis is a great way to get ahead. Learn more about the definition of PEST analysis, why it’s essential, and how you can conduct a PEST analysis to drive your business decisions.

Understanding PEST analysis

A PEST analysis is a type of analysis that looks at political, economic, social, and technological factors that impact your business. When a significant change in the economy or new technology emerges, it can lead to new opportunities and threats for your business. A PEST analysis helps you identify those potential opportunities and threats so you can take advantage of them during the project planning stage.

PEST analysis vs SWOT analysis

PEST and SWOT analyses may seem similar, but there are a few key differences. A PEST analysis focuses on external factors, while SWOT considers both internal and external factors. PEST analyzes political, economic, social, and technological influences, while SWOT examines a business's strengths, weaknesses, opportunities, and threats.

Why is PEST analysis important?

Understanding how to conduct a PEST analysis is vital in an ever-changing world. Think about how businesses operated 20 years ago and everything that has changed, from consumer habits to technology.

Without a PEST analysis, you simply hope the world changes in a way that favors your business. However, with a PEST analysis, you can better understand how the world might change and how that could impact your business so you can create an action plan to prepare for the future.

For example, your PEST analysis might show the importance of adopting new technology early on. Conversely, you might learn that the threats presented by new technology mean it’s better to be a late adopter.

Key components of PEST analysis

To conduct a PEST analysis, you must first understand its key components. Understanding these factors is essential to stay ahead of potential challenges and opportunities.

정치적 요인

A shift in the political climate can have significant implications for all types of businesses, and the political climate is constantly changing. For example, new government leadership can change regulations and consumer habits. Leadership changes can also lead to changes in consumer protection laws and foreign trade and policy, which has a massive impact on international businesses.

Even something as simple as a period of political unrest can seriously affect your business. A strategic planning framework helps you prepare for potential shifts in politics and laws.

경제적 요인

Whether you’re a consumer or a business owner, every economic change significantly impacts your life. The economy's overall health can determine your business's potential success, with factors like inflation and rising unemployment making it harder for business owners to protect their bottom line.

Many businesses scale down operations when the economy is in poor health or inflation is high. As demand for products falls, so does production.

사회적 요인

With the internet and social media, social movements are stronger than ever. Shifts in consumer behavior and cultural attitudes can affect your business in several ways, and in the information age, those shifts happen quickly.

Changes in populations and demographics are also essential to consider. The population's average age naturally shifts, changing the demand for various products and services. If your demographic grows, you must increase production to meet higher demand.

기술적 요인

It seems like we’re constantly discovering groundbreaking technology, and that technology can benefit your business in several ways. However, technological changes can also introduce new threats and potential business risks. For example, cloud services are efficient and affordable, but cloud security can be challenging.

Understanding technological factors and how they impact your business is a key part of project collaboration. When your IT, sales, and executive teams focus on correctly implementing technology, cyber threats are less of a concern.

Benefits of PEST analysis

Just because you understand your brand doesn’t mean you know it in the context of your industry or the market as a whole. A PEST analysis gives you deeper insights into your brand and everything that impacts it, which can help with everything from project management to risk mitigation.

An effective PEST analysis provides the information necessary to mitigate risks proactively, make better decisions, and create a strategy that accounts for future changes.

When to use PEST analysis

Conducting a PEST analysis allows you to learn more about your business and use that information to make decisions about your brand, its products, and the future. A PEST analysis can help you identify and mitigate risks in the early stages if you're starting a new business.

A PEST analysis can also be helpful if you’re developing a new product or moving into an untapped market. By understanding what affects your industry and setting goals you can work toward, you can create a simple roadmap for success.

How to conduct a PEST analysis

While you don’t need special tools to conduct a PEST analysis, brainstorming and collaboration tools like Confluence whiteboards can help. Here is how to conduct a PEST analysis in a few simple steps:

Identify the external factors

Once you’ve set goals you can define and measure, it’s time to start gathering data. You can research market trends, recent changes in government policies, trends in consumer behavior, and recent technological advancements. Use as many sources as possible to discover new information, including government stats, industry reports, expert interviews, and market research. The more data you collect, the better.

수집한 데이터 분석

어려운 단계이지만 프로젝트 공동 작업이 도움이 될 수 있습니다. 외부 요인을 조사하고 파악했으므로 이제 외부 요인이 비즈니스에 어떤 영향을 미치는지 파악해야 합니다. 새로운 기술을 채택하지 않으면 경쟁력이 떨어집니까? 새로운 기술을 채택하면 비즈니스에 위협이 됩니까? 이런 간단한 질문에 답하면 비즈니스가 받을 수 있는 영향을 파악하는 데 도움이 됩니다.

주요 결과의 우선 순위 지정

데이터 분석을 마치면 비즈니스에 중대한 영향을 미칠 수 있는 주요 결과의 우선 순위를 지정하세요. 예를 들어, 적절하게 계획을 세우지 않으면 인플레이션이 비즈니스에 부정적인 영향을 미친다는 사실을 알게 될 수 있고 다른 회사의 경우 특정한 기술적 요인이 가장 큰 영향을 미친다는 사실을 알게 될 수 있습니다. 비즈니스에 꼭 필요한 것이 무엇인지 파악하고 기록하세요.

실행 가능한 전략 개발

마지막 단계는 PEST 분석에서 얻은 지식을 작업 계획을 세우는 것입니다. 이 실행 가능한 전략의 목표는 정치적, 경제적, 사회적, 기술적 요인의 부정적인 영향을 최소화하는 것입니다. 매년 PEST 분석을 하면 미래에 대비하는 데 도움이 됩니다.

PEST 분석 예시

PEST 분석 예시를 보면 PEST 분석이 비즈니스 의사 결정을 내리는 데 어떻게 사용되는지 더 잘 파악할 수 있을 것입니다. 이 예시에서는 기술 비즈니스에 대한 PEST 분석을 살펴봅니다.

  • 정치적: 비즈니스에는 자유 무역 정책이 도움이 되며 무역 분쟁은 잠재적 위협이 됩니다.
  • 경제적: 가처분 소득 부족은 위협이지만 개발도상국의 빠른 경제 성장은 기회를 제공합니다.
  • 사회적: 부정적인 소비자 심리로 인해 브랜드에 대한 인식이 바뀌었습니다.
  • 기술적: 경쟁업체가 혁신하고 새로운 기술을 개발하면 어려움이 생깁니다.

비즈니스는 대중의 인식을 개선하기 위한 사회적 프로그램을 지속적으로 혁신하고 지원하여 앞서갑니다. 개발도상국이 성장함에 따라 회사가 범위를 확장하여 매출이 증가합니다.

Confluence로 PEST 분석 간소화

미래에 더 효과적으로 대비할 수 있도록 비즈니스 및 산업에 대해 더 자세히 알아보고 싶으십니까? 그럴 때는 PEST 분석으로 시작하면 좋습니다. PEST 분석은 회사가 비즈니스에 영향을 미치는 외부 요인을 파악하고 체계화하는 데 도움이 되며 프로젝트 공동 작업 모범 사례를 따르면 프로세스의 효율성 및 효과를 보장하게 됩니다.

Confluence를 사용하면 모두가 쉽게 같은 정보를 공유할 수 있습니다. Confluence 화이트보드를 사용하여 외부 요인을 브레인스톰하고 팀원과 실시간으로 작업하여 이 요인이 비즈니스에 어떤 영향을 미치는지 확인할 수 있습니다. Confluence 화이트보드에 페이지를 포함하여 더 많은 컨텍스트를 제공하고 프로젝트 공동 작업을 개선할 수도 있습니다. Confluence의 공동 작업 기능을 활용하면 분석을 간소화하고 비즈니스를 발전시키는 더 효과적인 의사 결정을 내릴 수 있습니다.

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