Explanation What Is The Pest Factors?


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Political Factors:    In Pakistan through certain times; Marshal Laws have been exerted at certain times which caused the economy to devastate. That’s why Pakistan in spite of having talent, natural resources and fertile land is still unstable. In condition of political instability foreign investors are reluctant to invest, corporate of country becomes worse across the globe and businesses do not prosper. But to cope up with the situation businesses implement certain emergent strategies in order to minimize the adverse effects.    Social and Cultural Factors:  This is another very important PEST factor i.e. Market force which highly influences the activities of the business organizations. Businesses need to look into the social and cultural attributes of the country or region in which they operate.  Social and cultural aspects of the country influence the organizations in two ways i.e. Their processes and internal make up and their output i.e. Their products or services. Organizational culture and structure are highly influenced by the regional culture because people bring their values and beliefs from outside when they come to work. Thus, the internal environment is automatically affected.  While businesses also craft their activities according to the culture of the country to which they are exposed.  Technological Factors:  This is also very crucial market force which affects whole of the spectrum of the business activities (functions) for example Research and Development, production, Marketing, Human Resource Management etc. The major shift in the business environment now-a-days is almost due to abrupt technological innovations. Businesses are needed to swiftly respond to these technological innovations because whole of the business skeleton is technology and if the response is slow many of other competitors will overtake it and will get competitive advantage.  Computer and internet is playing a key role in the business activities and the business structures are all wholly and sully dependent upon these. Communication became very fast and business transactions now take seconds to take place in the distance of thousands kilometers.

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