The Merlin Entertainments London Eye (known more simply as The London Eye, and also known as the Millennium Wheel), at a height of 135'metres (443'ft),1 it's the tallest cantilevered observation wheel in the world, rising high above the London skyline.
At the time it was erected, in 1999, it was the tallest Ferris wheel in the world, until it was surpassed by the Star of Nanchang (160 m) in May 2006, and then the Singapore Flyer (165 m) on 11 February 2008.
By understanding the environment in which the company operates (external to the company), advantages of the opportunities can be taken and the threats minimized.
Specifically the PEST or PESTLE analysis is a useful tool for understanding risks associated with market growth or decline, and as such the position, potential and direction for a business or organization.
A PEST analysis is a business measurement tool, looking at factors external to the organization. It is often used within a strategic SWOT analysis (Strengths, Weaknesses, Opportunities and threats analysis).
PESTLE is an acronym for Political, Economic, Social, Technological, Legal , Environment factors, which are used to assess the market for a business or organizational unit. The PEST analysis headings are a framework for reviewing a situation, and can also be used to review a strategy or position, direction of a company, a marketing proposition, or idea.
It is important to clearly identify the subject of a PEST analysis (that is a clear goal or output requirement), because an analysis of this type is multi-faceted in relation to a particular business unit or proposition - if the focus is dilute ...