Assignment: Your business strategy in the Global Environment. This week’s materials focus on your innovations and creativity in a global environment.
Your assignment is to:
1. First tell me what your new business is. Do you provide a service, or a product? Define this business you’ve spent so much time dreaming of starting.
2. Next develop a PEST Analysis using the template below.
3. Finally, describe how you’re going to grow this business in the global environment.
PEST analysis (political, economical, social, technological) assesses a market, including competitors, from the standpoint of a particular proposition or a business.
Note: PEST analysis can be useful before SWOT analysis because PEST helps to identify SWOT factors. PEST and SWOT are two different perspectives but can contain common factors. SWOT stands for strengths, weaknesses, opportunities, threats.