PEST analysis advantages
PEST analysis possesses several advantages; first of all, it is relatively impel and only costs time to do, the only thing that managers should do is to brainstorm from four different aspects and summarize their perspectives.
Secondly, PEST analysis helps managers to understand their business better. Since managers have to do lots of detailed research from four different aspects, they might find some problems of their business, which they never noticed or considered before. Last but not the least, PEST analysis helps companies to avoid the future threats and difficulties.
Owing to PEST analysis involves the external threats of organizations, although some of them are unpredictable and inevitable, it will still be possible for companies to take precautions and minimized the loss that might be brought by the threats.
First of all, the employers were ignoring employment law. Some companies were paying the migrant workers less than the minimum wage while others forced workers to worker longer than the working time directive. Read R oyal Dutch Shell PESTLE analysis
In addition, some business leaders claimed that migrant workers always have a more positive work ethic than the native worker, which means migrant people are more keen to work, this inspired companies to be more competitive and boost the economic development. In social factors, migrant workers replenished the shrinking workforce that caused by aging population in Britain. Also, having workers from different countries means having various cultures and experiences, this will help companies to develop in a multicultural way and inspire the people to create more innovative products.
