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A framework for PEST analysis based on fuzzy decision maps

Abstract:

Currently PEST analysis framework provides mainly a general idea about the macro environmental conditions and situation of a company or project. In this paper, a new model for PEST analysis is presented based on fuzzy decision maps. The proposed framework is composed of five activities obtaining a ranking of factors. A case study for a vertical farming project was presented, allowing to rank factor according to importance. Further works will concentrate extending the model for incorporating scenario analysis.