It is a useful exercise to do an external analysis at the start of the strategy review process. Gather your team together to do a PEST analysis. After the analysis, you will get an overview of the environment that your business is in, the factors that may affect it, and the issues that require attention in the strategy.During the discussion, the leader should fill in the factors suggested by the team regarding the political, economic, social, and technological conditions or PEST for short. On a flip chart, draw a large square with four parts as shown in Figure 1.