PEST analysis template

As nice as it would be, your business doesn’t exist in a vacuum. Your company can easily be affected by the external environment—but luckily, a PEST analysis template can help. Regularly using a PEST analysis template can help your team prepare for any external changes that might occur.

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When your external world starts to shift around your business, it’s important for your team to brace themselves for major changes. The best way to kick-off this process is by using a PEST analysis template.

What is a PEST analysis?

A PEST analysis is a research tool that helps you and your team analyze any external factors that can affect your business.

What does PEST stand for?

PEST is an acronym that stands for political, economic, socio-cultural, and technological. These are all external factors your team should consider when making business decisions. You may also see PESTEL which includes environmental and legal, in addition to the four mentioned previously.

What is a PEST analysis template?

A PEST analysis template is a reusable outline that your team can use to help regularly complete a PEST analysis. Use a PEST analysis template every time your team conducts a new PEST analysis—whether that’s for a product expansion, a change in the market, or even if your team is proactively monitoring the external business environment. 

Using a PEST analysis template ensures that your team creates a similar report every time they conduct an analysis. When done consistently, your team can start to track environmental trends and anticipate any future issues in the environment moving forward.

How do you use a PEST analysis template? 

A PEST analysis template typically contains a section for each part of the acronym—either in a quadrant-style or a Kanban-style board. A project manager duplicates the PEST analysis template and uses the copy as a new brainstorming board. Team members can then add potential risks to the corresponding sections or columns. For example, someone on the team might add new legislation that affects your business underneath the “Political” column. 

Integrated features

  • Board View. Board View is a Kanban board-style view that displays your project’s information in columns. Columns are typically organized by work status (like To Do, Doing, and Done) but you can adjust column titles depending on your project needs. Within each column, tasks are displayed as cards, with a variety of associated information including task title, due date, and custom fields. Track work as it moves through stages and get at-a-glance insight into where your project stands.

  • Portfolios. Portfolios make it easy to organize and track all of your team's multiple projects in a single view. Get a high-level overview of how all your projects are progressing, then drill in for more details to address risks. Plus, share status updates across programs and keep stakeholders up to date without having to schedule a status meeting.

  • Project Overview. Project Overview is your one-stop-shop for all important project context. Give your team a bird’s-eye view of the what, why, and how of your project work. Add a project description to set the tone for how you’ll work together in Asana. Then, share any important resources and context—like meeting details, communication channels, and project briefs—in one place.

  • Custom fields. Custom fields are the best way to tag, sort, and filter work. Create unique custom fields for any information you need to track—from priority and status to email or phone number. Use custom fields to sort and schedule your to-dos so you know what to work on first. Plus, share custom fields across tasks and projects to ensure consistency across your organization. 

  • Google Workplace. Attach files directly to tasks in Asana with the Google Workplace file chooser, which is built into the Asana task pane. Easily attach any My Drive file with just a few clicks.

  • Dropbox. Attach files directly to tasks in Asana with the Dropbox file chooser, which is built into the Asana task pane.

  • Microsoft Teams. With the Microsoft Teams + Asana integration, you can search for and share the information you need without leaving Teams. Easily connect your Teams conversations to actionable items in Asana. Plus, create, assign, and view tasks during a Teams Meeting without needing to switch to your browser.

  • Slack. Turn ideas, work requests, and action items from Slack into trackable tasks and comments in Asana. Go from quick questions and action items to tasks with assignees and due dates. Easily capture work so requests and to-dos don’t get lost in Slack.

FAQs

How do you create a PEST analysis?

The best way to create a PEST analysis is to start with a PEST analysis template in a collaborative work management tool. That way, your entire team can collaborate and add information to your analysis digitally, and your work will be documented and saved in the same place. After cloning your PEST analysis template, your team can add environmental risks into the corresponding sections of your PEST analysis.

What does PEST stand for?

PEST stands for political, economic, socio-cultural, and technological. You may also see the same concept referred to as “PESTEL” which includes legal and environmental in addition to the four previous factors.

What’s the difference between a PEST and SWOT analysis?

A PEST analysis identifies key external factors that may affect how you conduct business. A SWOT analysis is used to identify strengths and weaknesses of your current business. Both can (and should!) be used to craft and develop your team’s long-term strategy.

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