The PESTLE analysis is a strategic tool used to gain information and insight into the external factors that may affect a business. It is an extension of the PEST analysis, which stands for political, economic, social, and technological factors. This acronym further expands by adding legal and environmental considerations. As part of this process, businesses […]
When businesses analyze their external environment, PESTLE analysis is a standard tool that can be used to understand the legal factors that are likely to affect them. Through this framework, business owners and operators can assess how the law influences their daily operations as well as longer-term strategic decisions. Legal factors such as changes in […]
The concept of PESTLE analysis is nothing new in the world of business and corporate decision-making. It has been around for decades, but recently its importance has grown exponentially. This can be attributed to the ever-increasing technological advances that have taken place over the past decade or so, which have revolutionized many industry sectors and […]
In today’s ever-changing society, businesses must always be aware of the external influences that affect their decisions and operations. Social factors, such as changes in consumer demographic preferences, technology use, and attitudes, can have a massive impact on businesses. To better understand these changes and their effects on the business environment, companies often employ environmental […]
Modern business requires organizations to plan and strategize their operations to meet the demands of a changing economic climate. Although many external environmental factors influence business, one key factor is the political environment, both locally and internationally. Changes in government policies and legislation can create complex challenges for businesses as they aim to achieve success […]
Understanding the role that economic factors play in affecting businesses is essential to any executive looking to make sound decisions and guide their enterprise to financial success. PESTLE Analysis allows an organization to analyze the external environmental factors — political, economic, social, technological, legal, and environmental — that can impact the performance of a business. […]
