Fadak - Business Intelligence - Industry Analysis
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Industry Analysis

  1. Descriptions of PEST / PESTLE Analysis
  2. PESTLE Analysis - Political
  3. PESTLE Analysis - Economic
  4. PESTLE Analysis - Social
  5. PESTLE Analysis - Technology
  6. PESTLE Analysis - Legal
  7. PESTLE Analysis - Environmental
  8. History of PEST Analysis
  9. If you're doing a PESTLE analysis for a company or industry in the United States
  10. Resources for PESTLE Analysis
  11. OECD Economic Surveys & Outlook
  12. Country Reports from Business Source Premier

The Macro Environment & Pest Analysis

"PESTLE анализ" - пошаговое руководство

Descriptions of PEST / PESTLE Analysis

PEST Analysis is used to assess the market environment for a business.

  • Political
  • Economic
  • Social
  • Technology

There are variations of the model which identify other factors, although some researchers argue that those additional factors are just aspects of the main four. Variations include reorganization of the letters (ESTP, STEP) or the addition of Legal, Environmental, Ethical, Legislative, International, Industry, or Demography (PESTLE, STEEP, STEPE, STEEPLED, PESTELI).

PESTLE Analysis - Political


  • government type and stability
  • freedom of press, rule of law, levels of bureacracy & corruption
  • regulation and de-regulation trends
  • social and employment legislation
  • tax policy and trade & tariff controls
  • likely changes in the political environment

PESTLE Analysis - Economic


  • stage of business cycle
  • current & projected economic growth, e.g. GDP / GNP growth
  • inflation & interest rates
  • unemployment and labor supply
  • labor costs
  • levels of disposable income & income distribution
  • impact of globalization
  • likely impact of technological or other change on the economy
  • likely changes in the economic environment

PESTLE Analysis - Social


  • population growth rate and age profile
  • population health, education & social mobility, and attitudes to these
  • population employment patterns, job market freedom & attitudes to work
  • press attitudes, public opinion, social attitudes & social taboos
  • lifestyle choices and attitudes to these
  • socio-cultural changes
  • health consciousness

PESTLE Analysis - Technology


  • impact of emerging technologies
  • impact of internet, reduction in communication costs & increased remote working
  • research & development (R&D) activity
  • impact of technology transfer
  • degree of automation
  • rate of technological change

PESTLE Analysis - Legal


  • antitrust law
  • consumer law
  • discrimination law
  • employment law
  • health & safety laws

PESTLE Analysis - Environmental


  • weather
  • natural disasters
  • climate
  • climate change
  • environmental taxes
  • demand for "green" products

History of PEST Analysis

In his 1967 book, Scanning the Business Environment, Francis Joseph Aguilar identified four aspects of the external environment in which an industry operates: Economic, Technological, Political, Social (ETPS).

Other authors have reorganized the letters and added new categories over the years. The following articles include some of the variants.

If you're doing a PESTLE analysis for a company or industry in the United States

Resources for PESTLE Analysis


OECD Economic Surveys & Outlook

Country Reports from Business Source Premier

Business Source Premier -- scroll down to Business Source Premier and select "Enhanced Business Searching Interface" and then Browse: Country Reports

Business Monitor International

  • Regional Monitors -- "Political & economic analysis with specific asset class forecasts for over 64 emerging markets globally. How portfolio managers are investing in the emerging markets & financing & credit record."
  • Business Forecast Reports for specific countries -- "Contains detailed forecast covering political risk, economic outlook & industry performance, set against global economic trends"

CountryWatch Incorporated

  • Country Reviews -- "Includes geographical, political, economic, corporate, & environmental information"


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