You must strengthen your brand

favosok627@opre

Enact ethical policies that emerge from government policies, and have your message in the right direction. Read also about: Market analysis and study How to use PEST analysis? There are four important steps to using the PEST analysis tool, and these steps are as follows: 1- Brainstorming Brainstorming is done about the factors and variables that affect your field of work, including economic, political, social, and technological factors, while including some common questions about each factor to make the process easier for you. This is done as follows: 1- Political factors The following must be taken into account: Could tax or legislative changes affect your business? Who are the contenders for power? What is their view on labor laws and policies that have an impact on your business? Are there political factors that are likely to change?




How does the government deal with environmental issues? What are the government policies for other companies? How does work organization affect your field of work? 2- Economic factors The following must be taken into account: What are the Iceland Email List economic market conditions? How stable is it? Is the economic situation in recession or prosperity? Regarding exchange rates, are they stable or variable and difficult to determine? What is the impact of globalization on the economic environment? How does it affect? What is the unemployment rate? Are income levels rising or falling? 3- Social factors The following must be taken into account: What are the prevailing social trends? How does it affect your field of work? What is the population growth rate? How does it change? How does generational disparity affect what you do? Health and education levels, how are they changing?





What is its effect? Employment patterns and trends in the labor market, can they be observed? Does it differ according to age groups? 4- Technological factors The following must be taken into account: What are the new technologies? How do you use it? Do new technologies affect your business level? Which areas of scientific research do governments focus on? Which technologies are competitors using? Do new infrastructure patterns, such as: remote work, affect your work patterns? Read also about: Commercial risks in business 2- Consider brainstorming opportunities The moment these variables affecting your work environment are identified, they are discussed and ideas are exchanged about them, how they affect you and are affected by you, and what benefit you can get from them, whether in developing the product, expanding into a new market , or making business operations more efficient.