The PEST Analysis framework helps in understanding economic issues like taxes, interest rates, and recessions by examining these factors in the context of the overall economic environment. It allows businesses to anticipate changes in the economy and adapt their strategies accordingly. For instance, understanding tax policies can help a business plan its finances better. Similarly, knowledge about interest rates can inform investment decisions. Awareness of economic cycles can help a business prepare for a recession. Thus, the PEST Analysis provides a comprehensive view of the economic landscape that a business operates in.
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Dive into competitiveness data and take into account the dynamics of your venture’s financial, technological and market performance with our PEST Anal...
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Start with the history – familiarize yourself with your topic: read about its history, find out how it was established, how long it's been around and who was it founded by. Also, pay attention to major achievements associated with the topic that happened over the past few years Find political information – common political regulations to search for are tariffs, employment laws, health and safety, tax policies and trade control. Find economic information – some economic issues to pay attention to are taxes, Interest rates, demand and supply and recessions. Find social information – here, you'd examine how consumers are affected by political and economic factors. It is acceptable to draw conclusions based on the information you've already gathered from your political and economic factors research.