|
Business Environment A Combination of Political, Economic, Social, and Technological (PEST) Forces |
|
By Vadim Kotelnikov, Founder, Ten3 BUSINESS e-COACH – Innovation Unlimited, 1000ventures.com
 |
"The business world is an extension of the kindergarten sand box – but with quick sand." – Richard F Stiegele, banker |
 |
|
Business Environment Defined Business environment is a set of political, economic, social and technological (PEST) forces that are largely outside the control and influence of a business, and that can potentially have both a positive and a negative impact on the business.1 PEST Analysis Today's world is a rapidly changing place. Developments across a range of factors will have an impact on your business or industry. The classic PEST framework (political, economic, social, technological) identifies four major categories of external factors that affect the ability of your organization to survive and prosper. Strategy Formulation Strategy formulation is the process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose... More What is Your Competitive Strategy?
3 Market Leadership Strategies The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More SWOT Analysis: Questions To Answer Opportunities
Creating a Culture for Innovation
By viewing
corporate culture as
the result of various explicit and implicit decisions, actions and
events that have transpired over time, it becomes possible to identify
the factors that shape and drive culture. The following model suggests
that culture results from the ongoing interplay between several
variables including:
|
||||||||||||||||
|
Bibliography:
|
|
