PEST Analysis
Political / Legal
|
Economic
|
Social
|
Technological
|
Pest Analysis For a Restaurant(Example)
Political Factor- Government regulation from a restaurant will be hygiene, health, food standards, and food they are allow to serve. Restaurant industry must include from the economic policies of government licenses, inspection by the health ministry department.
Economic Factor- Interest Rate, and it has to be proportionate to the cost of capital. Economic trends helps you to indicate the sustenance and profitability of the business
Social Factor- Certain culture are not allowed to eat specific food. Like Hindu's they are not allow to eat beef and Muslim are not even allowed to touch pork. Therefore, you need to learn the culture and the background of the country before starting up a restaurant.The eating habit will certainly may make an affect on the business. And ratio of people like to eat out at the country.
Technological- A good technical infrastructure would certainly help the business by alot. By using new technology will reduced wages and lower some specific cost.
Economic Factor- Interest Rate, and it has to be proportionate to the cost of capital. Economic trends helps you to indicate the sustenance and profitability of the business
Social Factor- Certain culture are not allowed to eat specific food. Like Hindu's they are not allow to eat beef and Muslim are not even allowed to touch pork. Therefore, you need to learn the culture and the background of the country before starting up a restaurant.The eating habit will certainly may make an affect on the business. And ratio of people like to eat out at the country.
Technological- A good technical infrastructure would certainly help the business by alot. By using new technology will reduced wages and lower some specific cost.
Sources
"PEST Analysis." PEST Analysis. N.p., n.d. Web. 09 Jan. 2013."PEST Analysis." Mind Tools New Articles RSS. N.p., n.d. Web. 09 Jan. 2013.
"PEST Analysis." PEST Analysis. N.p., n.d. Web. 08 Jan. 2013.
"PEST Analysis." PEST Analysis. N.p., n.d. Web. 08 Jan. 2013.