Which term is commonly associated with a company's political, economic, social, and environmental analysis?

The term that is commonly associated with a company's political, economic, social, and environmental analysis is PESTEC Analysis. This acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors, providing a framework for understanding the external environment in which a business operates. By examining these factors, companies can better assess opportunities and threats, and adjust their strategies accordingly.

PESTEC Analysis is particularly valuable for strategic planning and decision-making, as it encourages businesses to look beyond their internal operations and consider the wider context. It helps in identifying trends, understanding market dynamics, and making informed predictions about future developments. The inclusion of "technological" and "legal" aspects alongside the political, economic, social, and environmental factors makes it a comprehensive tool for analysis.

While market analysis focuses more on the dynamics of the specific industry or market in which the company operates, and SWOT analysis examines internal strengths and weaknesses along with external opportunities and threats, PESTEC Analysis is specifically designed to evaluate external factors that can impact a company's performance. Strategic planning refers to the process of defining a company's direction and making decisions on allocating resources to pursue that strategy, which can utilize insights gained from PESTEC Analysis, but is not synonymous with it.