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What is a PEST analysis?

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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.

政治的要因

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.

経済的要因

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.

社会的要因

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.

技術的要因

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.

収集したデータを分析する

これは難しい段階ですが、プロジェクト コラボレーションが有効になります。外部要因を調査して特定できたところで、それらの要因がビジネスにどのように影響するかを理解する必要があります。「新しいテクノロジーを採用しなければ、競争力は低下するだろうか?」「新しいテクノロジーを採用した場合、ビジネスに脅威を与えるだろうか?」このような簡単な質問に答えることで、ビジネスがどのような影響を受けるかを理解するのに役立ちます。

重要な調査結果に優先順位を付ける

データの分析が終わったら、ビジネスに大きな影響を与える可能性のある重要な調査結果に優先順位を付けます。たとえば、適切な計画を立てないと、インフレがビジネスに悪影響を及ぼすことになると気付くかもしれません。他の企業では、特定の技術的要因が最も大きな影響を及ぼしていることに気付くかもしれません。自社のビジネスにとって最も重要な要素を見つけて、それを書き留めておきます。

実行可能な戦略を立てる

最後のステップは、PEST 分析から得た知識にもとづいて行動計画を立てることです。この実行可能な戦略の目的は、Political (政治的)、Economic (経済的)、Social (社会的)、および Technological (技術的) 要因の悪影響を最小限に抑えることです。毎年 PEST 分析を実施することで、将来に備えることができます。

PEST 分析の例

PEST 分析の例を見ることで、PEST 分析がビジネスの意思決定にどのように活用されているかをより良く理解できるでしょう。例として、あるテクノロジー ビジネスの PEST 分析を見てみましょう。

  • 政治的要因: ビジネスは自由貿易政策の恩恵を受けているが、貿易紛争が潜在的な脅威となる。
  • 経済的要因: 可処分所得の不足は脅威だが、発展途上国の急速な経済成長は機会をもたらす。
  • 社会的要因: 消費者のネガティブな感情が、ブランドに対する認識を変えた。
  • 技術的要因: 競合他社が革新し、新しい技術を開発するのにともない、課題が生じる。

世間の認知度を高めるために、社会プログラムを継続的に革新し、支援することで、このビジネスは時代を先取りし続けています。発展途上国の成長に伴い、この企業は事業を拡大し、売上を増大しています。

Confluence で PEST 分析を効率化する

将来に備えるために、自社のビジネスや業界について理解を深めたい場合は、PEST 分析の実施から始めるのが最適です。PEST 分析は、企業が自社のビジネスに影響を与える外部要因を特定して整理するのに役立ち、プロジェクト コラボレーションのベスト プラクティスに従うことで、プロセスが効率的かつ効果的なものになります。

Confluence を使えば、全員が同じ認識を持つことが容易になります。Confluence ホワイトボードを使用して、外部要因についてブレーンストーミングを行い、チームメイトとリアルタイムで連携して、それらの要因がビジネスにどのような影響を与えるかを判断できます。Confluence ホワイトボードにページを埋め込んで、より多くの背景情報を提供し、プロジェクト コラボレーションを向上させることも可能です。Confluence のコラボレーション機能を活用することで、分析を効率化し、ビジネスを前進させるより良い意思決定を下すことができます。

以下も参照してください

戦略的プランニング テンプレート

ビジネス戦略を明確にし、エグゼクティブ チームと取締役会に発表します。

OKR テンプレート

この目標設定テンプレートを使用して、測定可能で高い目標に基づくマイルストーンを設定します。

Confluence で、すべてのチームのコンテンツ コラボレーションがより迅速になります

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