PEST Analysis Understanding "Big Picture" Forces of Change (Also known as PESTLE‚ PESTEL‚ PESTLIED‚ STEEPLE and SLEPT Analysis) PEST Analysis is a simple‚ useful and widely-used tool that helps you understand the "big picture" of your Political‚ Economic‚ Socio-Cultural and Technological environment. As such‚ it is used by business leaders worldwide to build their vision of the future. It is important for these reasons: • First‚ by making effective use of PEST Analysis‚ you ensure that what
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National Maritime Museum PEST Analysis What political factors affect the Museum’s ability to attract visitors? The museum is required to meet government target to attract any groups. Free admissions in museum are funded by central Government. Foreign tourists are worried about health risk such us the recent outbreak of Foot and Mouth disease and because of this they can stop to visit. What economic factors affect the Museum’s ability to generate income and increase the number and profile of visitors
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INTRODUCTION This chapter identifies the main external influences on the UK market for private security and fire protection‚ using the four headings of a PEST analysis: political‚ economic‚ social and technological. Where such influences have more than one dimension‚ they are considered under the heading that is considered to be the most relevant. POLITICAL FACTORS The Terrorist Threat Precautions against terrorist attacks have been stepped up since the events of 11th September 2001‚ and
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Tutorial 1: Markets and Organizations Q1. Case Study [pic] Managing external influences First Group (First) is the UK’s largest transport operator‚ employing more than 137‚000 people in the UK and the USA. In the UK‚ it runs rail services carrying around 275 million passengers a year. It is the UK’s largest bus operator and also runs a rail freight business. In the US‚ it operates school transport for nearly four million students a day. The company is seeking to extend it operation in UK
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EXPLAIN THE PURPOSE AND BENEFITS OF PEST ANALYSIS. PEST analysis is used to evaluate the political‚ economic‚ social and technological influences that organizations might face when they are about to start a project. It provides external factors that organizations should take into consideration before they start the projects. In this case study‚ the UNISION used PEST analysis to investigate the external environment surrounding migrant workers; it helps UNISON to identify and understand the reasons
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Background………………………………………………..………………3 3. Business Analysis…………………………………………………….………………4 a. Profitability Ratios……………………………………………..……………..4 b. Liquidity Ratios………………………………………………..……………..6 c. Leverage Ratios……………………………………………………………....7 d. Activity Ratios………………………………………………………………..9 e. Shareholders’ Return Ratios………………………………………………….9 f. Contribution Analysis………………………………………………………10 g. DuPont Model of Financial Analysis...……………………….……………10 h. Break-even Analysis……………………………………….……………….11 4. Summary ………………
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PESTE Analysis PEST analysis (Political‚ Economic‚ Social and Technological analysis) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. Insurance is one of the service factor that are expected to continue to drive growth in the economy. Thus the insurance sector play important role in supporting economic ‚social and technology development. Economical factor Interest rate at bank very much affect to insurance industry‚ because
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Name: Organisations Management and People Module code: HR 1004 Id : 105353 Pest analyses‚ also partially known as “STEP”‚ has always been undertaking a vital role to every dynamic of all business organisations. Each and every organisation has to undergo involvement and interference of certain factors relating political‚ environmental‚ social and technological factors (PEST). These factors may contain striving from other companies‚ price variation‚ unreliable raw material
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PEST Analysis Example If you ’re a student of marketing and business studies then you must have come across the term ’PEST Analysis ’. Here are a couple of PEST Analysis examples to clarify the concept further. You cannot imagine the amount of hard work and research that is involved whenever a new product or commercial utility is launched. For that matter‚ any change in the business management and development strategy calls for minute scrutiny of the environment which would form the background
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Restaurant PEST Analysis: A PEST analysis is a business tool that can help determine the macroeconomic factors that will impact a business. Specifically a PEST analysis measures the political‚ economic‚ social and technological factors that impact a business. A PEST analysis of a restaurant can be useful for determining if the environment is appropriate for such a business. Political Factors * Political factors deal with the degree to which the government influences and controls businesses. For
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