What is PEST analysis, what are its benefits and how to conduct it?

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What is PEST analysis?
PEST analysis (or PESTEL analysis) is a strategic analysis method used to examine the external environment that affects an organization. The acronym "PEST" stands for the following aspects:

Political factors : Assessing the impact of political factors on an organization, such as government stability, tax policies, laws, regulations, etc.
Economic factors . Analysis of the impact of economic conditions such saudi arabia email list as inflation, interest rates, unemployment, changes in GDP, etc.

Sociocultural factors . Assessing the impact of sociocultural trends such as demographics, education, cultural characteristics, lifestyle, etc.
Technological factors . Analysis of the impact of technological innovations and developments on the organization.

Environmental factors . Consideration of the impact of environmental aspects such as energy efficiency, sustainability, resource use, etc.
Legal factors : Assessing the impact of legislation and regulations on business, such as legal protection, compliance and standards.