Tackling market entrance barriers by performing PEST analysis
The Water2REturn system is a vital part in the search for clean water and a clean environment. In order to ensure that the program will be able to overcome any challenges, the Water2REturn team implemented a PEST analysis. PEST is an acronym for political, economic, social and technological, and includes both the strengths and weaknesses in each of those categories. This PEST analysis, written in part by the European Landowners’ Organization, with assistance from other project partners, will be released in the following months.
Although the document is several pages, some of the key findings are included here. Amongst some of the most notable benefits is the timeliness of this project. The European Union has continued to emphasize the need for clean water in legislation and this project is perfectly fit to fulfill this need.
Other benefits discovered include the increased amount of clean water on the market, the cheaper, safer fertilizers, inexpensive energy, and the continual discovery of new technologies as the project expands. Lower costs, greater profits, global interest and innovation are additional benefits that this project brings about
As with any project (and, of course included in the PEST analysis) are the risks. The most notable risks are economic and social risks. Economically, there are currently cheaper methods of clean water, however, as the project continues, the costs of Water2REturn will decrease making the product more cost efficient. Socially, there is still a stigma on reclaimed water. No matter how clean the water is, there will always be people hesitant to use it, due to where it came from. This risk is minimised by using this water for agriculture and other water for drinking.
This analysis reviews many key issues with a project of this size and the entire PEST analysis will be released shortly, depending on a few factors, including the COVID19 situation. For more information or details, please contact Daniel.Monteleone@elo.org.