If you are considering your business strategy, then this is a common tool used to assess your business environment. It is an acronym standing for the six external factors affecting your business. 

  1. Political 
  2. Economic 
  3. Social 
  4. Technological 
  5. Legal 
  6. Environment 

In the present business climate, a PESTLE analysis can be very helpful in determining your long-term goals and the strategy to achieve them. Your analysis should take the form of a table like the one below: 

Category Political Economic Social Technology Legal Environment 
Possible factors       
Business Impact       
Time frame       
Type of impact       
Rate of impact       
Importance       

 

Have a go at creating this table, guessing what the headings mean. If you then decide to develop the technique, a Google search will throw up a lot of guidance. Here is an example from CIPD: https://www.cipd.co.uk/knowledge/strategy/organisational-development/pestle-analysis-factsheet 

Verified by MonsterInsights