Hi there, how are you doing! Are you struggling with your assignment in business strategy but still considering where to look for answers, or just started your brand new subject in business management in your new term. Don't worry, I hope these materials could find you well.
Welcome to Business Theories series. In this post, let's look at the PESTEL Analysis in a bit more detail.
A PESTEL analysis is a framework or tool used by marketers to analyse and monitor the macro-environmental (external marketing environment) factors that have an impact on an organisation. The result of which is used to identify threats and weaknesses which is used in a SWOT analysis.PESTEL is also a very common and important tool for business strategic management.
PESTEL stands for:
P – Political
E – Economic
S – Social
T – Technological
E – Environmental
L – Legal
Please check and read the attached pdf file below, you will probably have a clearer understanding of this essential concept. Best wishes!