Difference between SWOT and PEST!
SWOT analysis Definition
Situation analysis in which internal strengths and weaknesses of an organization, and externalopportunities and threats faced by it are closely examined to chart a strategy. SWOT stands forstrengths, weaknesses, opportunities, and threats. See also PEST analysis.
PEST analysis Definition
A type of situation analysis in which political-legal (government stability, spending, taxation), economic (inflation, interest rates, unemployment), sociology-cultural (demographics, education, income distribution), and technological (knowledge generation, conversion of discoveries into products,rates of obsolescence) factors are examined to chart an organization’s long-term plans. See also SWOT analysis.