TableĀ 8

PEST component concept

DivisionDefinition
PoliticalPromote or sanction at the government level and analyze the impact on national infrastructure construction
EconomicAnalyzing the impact on the growth rate of the economy and companies through economic understanding from a long-term and short-term perspective
SocialAnalyzing social and cultural norms and expectations
TechnologicalAnalysis of factors affecting technological progress and performance, such as technological cost, innovation, and quality
Source(s): The authors

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