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PEST
PEST (PESTEL) is a diagnostic tool used in strategy to analyse
the macro environments and identify how future trends in
the political, economic, social, technological, environmental
and legal environments might impact individual
organisations within an industry.
Organisations study the key drivers of change behind the
PESTEL factors. These key drivers of change constitute
opportunities and threats in a firm’s external environment
and industry which can be overcome by focusing on
strengths and eliminating weaknesses.
