Thought #7
PESTEL Analysis Perspective
A PESTEL analysis can be termed as a tool that is utilized by marketers to
analyze and check the macro-environment (external environment) factors that
affect their organizations. The results of this analysis are used to find out the
weaknesses and threats, which are utilized in SWOT analysis.
PESTEL is mainly used by global and multinational companies to elaborate an
analysis of finding out the opportunities and perils of expanding into global
markets.
Sometimes, the term is described as PEST or PESTLE analysis... Economic,
political, social, technological, and environmental factors that usually vary
from country to country. whenever any company is determined to expand into
new markets, it has to carry out a PESTEL analysis of itself and do a SWOT
analysis.
PESTEL analysis offers a solid framework utilized by global and multinational
enterprises to set the stage for growing particular tactics to mitigate the risk
involved in carrying out their vision in an unfamiliar environment.