(PEST) Analysis

In today’s Entertainment market, organizations strategically plan for the future. This post today will cover a technique called Political, Economical, Social, and Technological (PEST) Analysis. Similarly, a Strength, Weakness, Opportunity, Tools (SWOT) analysis is another method organizations use to evaluate their business operations.

For the most part of this post I will cover the PEST analysis method in regard to the Entertainment and Media industry base on the political, economical, social and technology standpoint.

1.     Political- According to Carmody  (1995), “Politics has become a part of pop culture…popularize politics for the their generation in much the same way that MTV and television programs like The Late Show with David Letterman do”. This article is a good example of how media and politics make information about the public issues accessible to make the people feel included.

2.     Economical and Social –Weforum.org (2012) focuses on the industry overall representing both an economic and social powerful agent of change. According to this site the industry is facing more changes than ever before, and it is therefore critical to combine the efforts of all stakeholders to address the media revolutions. The business environment is sustainable because of the dialogue and partnership among different stakeholders. Social Media study’s estimates that 90% of China on the Internet uses social media sites, on the contrary over 70% in the United States.

3.      Technology- according to the Digital Ecosystem covers how the framework for economic and social development, the online environment must command trust in terms of privacy, security and protections from harmful content. With identity theft and fraud increasing daily. Advance technologies are in place to protect users and their transactions online.

In summary, PEST analysis is a good method used to research the market overall from a global business perspective.

                                    References

CARMODY, D. (1995, February 20). THE MEDIA BUSINESS; Politics as Entertainment, Politics Even as Play - New York Times. The New York Times - Breaking News, World News & Multimedia. Retrieved May 9, 2012, from http://www.nytimes.com/1995/02/20/business/the-media-business-politics-as-entertainment-politics-even-as-play.html

Media, Entertainment & Information. (2012). Media, Entertainment & Information| World Economic Forum. Retrieved May 9, 2012, from www.weforum.org/industry-partners/groups/media-