During the strategic planning process, it is often necessary to use a PEST analysis. What is PEST an acronym for?
A)Political, economic, social, technology
B)Personal, environmental, strategic, technology
C)Private, efficiency, strategic, turnover rate
D)Productivity, efficiency, strategic, task structure

Question

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During the strategic planning process, it is often necessary to use a PEST analysis. PEST is an acronym for political, economic, social, technology.
Key Takeaway: A PEST analysis, used during the strategic planning process, refers to the â€œPolitical, Economic, Social, and Technologicalâ€? factors that may affect the overall strategy of an organization. In recent years, some analysts have added an "L," which stands for "legal factors," and/or an "E," which stands for "environmental factors." A PEST analysis can be very useful to understand the potential direction of the business and any ramifications-good or bad-of impending business decisions.

During the Strategic Planning Process, It Is Often Necessary to Use