PEST ANALYSIS One of the lessons from Trends that caught my attention the most is the PEST Analysis. It describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. PEST analysis aims to examine how external factors (political, economic, socio-cultural and technological) can affect your business environment. These macro-environmental factors are important and should be taken into consideration because all of these will have a big effect on the overall performance of a business. This lesson is one our lessons that I found most fascinating because as a HUMSS Student, I think it is important to be aware of the issues our society is going through, may it be politically, economically, social-cultural or technological. While I was working on some of our homework, take-home quizzes and during discussions, I realized that my level of understanding and my knowledge about political factors and how they affect a business pe...
