Companies need to understand their ability to compete and the environment in which they must compete. Of the strategy planning tools they have available, the PEST (political, economic, sociocultural, and technology) analysis has been shown to be very effective. Do you believe that companies who have a planning culture and use planning tools, such as the PEST analysis, can perform better in the long run than their industry competitors, who may not use similar planning tools? Why, or why not?

• Should be at least 300 words in length.

• Should include at least one APA-formatted scholarly, professional, or textbook reference with accompanying in-text citation to support any paraphrased, summarized, or quoted material.

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