Name: Kimberly Hodge
1. Using APA citations to support your statements, explain what a PEST table is and why it is important to an organization (1-2 paragraphs). Pest Analysis is a frame work that strategy consultants uses to scan the mirco environment in which the firm operates. (Value Based 2013) PEST is Political, Ecomonic, Social factor and Techonolgies factors. Companies will use this in workshops and it will make the managmenets brainstorm techniques using PEST for strategic plannings, marketing planning or development in the business or the production. (Value Based 2013)
2. Include an explanation of the organization and environment you are focusing on in the PEST table (3-5 sentences):
I answer #4 before I answer this one. It is combine of both questions. The organization would be my bike shop. I would use this table to think how this would affct my employees and the consumers. Political section, with the Furlough going on and unemployment numbers are going up.. I need to be aware that I will have good days and bad days with sales. The next couple months were be good month because income refunds are coming in and people want to buy and spend but then at the same time consumers may be saving as well. International trades will be affecting my bike shop because some of the bikes are shipped from France, Switzerland and other countries. I need to be aware this could affect my business as well.. Social is a huge impact for any business. And I think economic influences social a lot. Then Technologies, there are always new gadgets that are being added to the bikes or can be purchased to add to the bike. As a management, I have to be aware that when I promote new technology, I need to let them know what is new and how does it work.
4. Identify 3-5 items in each category and post them in the PEST table below. Provide enough detail to explain your thoughts for each item. One or two lines will suffice for each item;...
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