Focusing on Technological PEST

PEST, PESTLE or STEP is an innovative analytical business tool that is now being used widely all around the world today. This helps the managers and even the business owners in taking into account the external factors in the business and learning how they can impact the performance of the company both at the present time and in the future as well. With the PEST, STEP, STEEPLE, STEEPLED or STEEPLIED analysis, whatever you wish to call it, you will be able to understand the big picture of the environmental factors that have an effect on the operations and the overall condition of your company. When you understand what your environment is all about, you can definitely take advantage of the opportunities that might come your way and minimize the threats at the same time. This is truly important for all business since it is certainly difficult to detect both the threats and the opportunities that might fall into your organization’s way. PEST analysis can protect your strategic and business plans in order for you to gain a more detailed planning scheme. Now, PEST stands for political, economic, social and technological. We are going to give focus on the latter.

As we all know, technology is a vital component in today’s business world. Computers, pieces of software and such can provide great assistance for our everyday needs. If we are able to use technology to our own advantage, rest assured that our business can be more competitive Igtok. There are a lot of businesses that are established right now and most of them have the potential in beating us in the market. If you surrender to your rivals, you lost your customers and most definitely your credibility as an employer or business owner. So how do you use the technological PEST aspect to your advantage? It is important that you take a look at your organization and consider some of the most significant points.

The first is to determine whether technology enables you to create products or services that are useful and cost effective. You should also determine whether technology offers your business as well as the consumers so that you can have more innovative products or services including high technology mobile phones or even internet banking. There are some instances when new technologies can change distribution through books via the internet, auctions, flight tickets and others. Technologies also offer better methodologies on how companies communicate with their customers. This can be through banners and customer relationship management.

Step 1. For a UK alternative to incineration to be viable it will need to be good at the diversion of waste from landfill. Most importantly the diversion of organic/biological waste from landfill, to meet European Union targets. You will need to consider what are these technologies and how will they help to meet LATS. This will be a task of critical importance because the introduction of the Landfill Allowances Trading Scheme (LATS) in April 2005 has left all local authorities with key decisions to make in terms of how they are going to divert enough biodegradable municipal waste (BMW) from landfill to meet their LATS targets. Most UK local authorities have been using incineration after recycling and diverting all but their residual waste, but alternatively they could introduce new waste technologies into their waste management process stream.

However, as we have shown this type of solution brings with it a number of questions. Not least, as we have already indicated we must ask what are these technologies and how will they help to meet LATS?

Make sure you do not overlook or by-pass this, because answering these questions is essential to select a viable new waste technology, and the stakes are high as unless the local authority meets its LATS target, it will be fined by the UK government. And, if nationally we do not meet the targets overall, the EU will fine us as a nation.

Step 2. Any adoption of a new waste technology must be able to satisfactorily answer the question; What are the residuals and are there markets for these? This important step demands all your attention. Here is the way to do it right: Make sure that you select a new waste technology from which the residuals can be sold, if not at a profit, at a price which helps pay for the extra cost of the waste technology which will process the waste. There are a few reasons this is often important. The principal one is no new waste technology will be acceptable to the public and comply with LATS, or as a financial proposition, unless it produces residual materials which have a value and don’t in the end have to be landfilled for the want of an alternative disposal route.

 

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