PEST (an acronym for Political, Economic, Social and Technological analysis) chart depicts a framework of macro-environmental factors used in the environmental scanning component of strategic management. PEST chart looks at how those external factors can affect a business's activities and performance, and it can be used in combination with other tools, like Porter's five forces and a SWOT analysis, to determine an organization's overall outlook for success. To get the most out of a PEST chart, businesses must understand what each of the four factors is analyzing. Political changes relate to changes in government influence and can have huge significance for companies. Social issue analyzes the demographic and cultural aspects that can help determine whether a business can compete in the current market. Economic changes are closely related to social ones. The economy goes through a series of fluctuations associated with general booms and slumps in economic activity. Technological changes have also become particularly significant especially modern communication technologies.
Learn the comparsion between PEST chart and SWOT analysis here.
PEST Chart Software
With the help of Edraw's rich pre-drawn examples and templates, it's easy for users to create a good-looking and professional PEST Chart, to understand the big picture of the Political, Economic, Socio-Cultural and Technological environment. Edraw offers the easiest way of drawing, which is much advanced in feature, allow you to drag and drop the shapes directly instead of drawing or inserting. Don't worry if you are novices, the software has considered everything they can for you. All the beauty diagrams you have designed can be easily exported and printed in a strict correspondence with the screen picture.
Download PEST Chart Software
PEST Chart Symbols
PEST templates include many special shapes, basic PEST, PEST Matrix, PEST bar, PEST box, PEST box-level, circular PEST, PEST, circle, text box. These shapes will facilitate the improvement of your drawing level.
Learn how to make a PEST chart here.