Respuesta :
A political, economic, sociocultural, and technological (pest) analysis allows HR managers to spot business or personnel opportunities.
PEST analysis:
In business analysis, PEST analysis ("political, economic, socio-cultural and technological") describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.
It is part of an external analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into consideration.
It is a strategic tool for understanding market growth or decline, business position, potential and direction for operations.
The basic PEST analysis includes four factors:
- Political factors relate to how the government intervenes in the economy. Specifically, political factors have areas including tax policy, labor law, environmental law, trade restrictions, tariffs, and political stability.
- Economic factors include economic growth, exchange rates, inflation rate, and interest rates. These factors can drastically affect how a business operates. For example, interest rates affect a firm's cost of capital and therefore to what extent a business grows and expands.
- Social factors include the cultural aspects and health consciousness, population growth rate, age distribution, career attitudes and emphasis on safety. High trends in social factors affect the demand for a company's products and how that company operates.
- Technological factors include technological aspects like R&D activity, automation, technology incentives and the rate of technological change. These can determine barriers to entry, minimum efficient production level and influence the outsourcing decisions.
To learn more about PEST analysis: https://brainly.com/question/20388729
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