As a company looks to leverage its capabilities and expand, it is imperative that it considers a PESTEL analysis to accompany the SWOT analysis. This concept explains the fundamentals of the techniques and explores its strengths and weaknesses.
PESTEL Analysis Definition
The PESTEL framework is an analytical tool used to identify key drivers of change in the strategic environment. PESTEL analysis includes Political, Economic, Social, Technological, Legal, and Environmental factors, but other variants include PEST, PESTLIED (including International and Demographic factors), STEEPLE (including Ethical factors), and STEEPLED (including Education and Demographic factors) (Johnson et al., 2008).
PESTEL Analysis Description *
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PESTEL Analysis References (4 of up to 20) *
- Abdi, M.R. and Sharma, S. 2007, Strategic/tactical Information Management of Flight Operations in Abnormal Conditions Through Network Control Centre, International Journal of Information Management, Vol. 27, No. 2, 119- 138.
- Fahey, L. and Randall, M. R. (2000) Portable MBA in Strategy, 2nd ed, Wiley and Sons, New York.
- Chartered Management Institute (2005) Carrying Out a PEST Analysis. Available at: www.thefreelibrary.com/Carrying+out+a+PEST+analysis-a0141751272
- Gandz, J., Smith, M., Wali, A., and Conklin, D. W. (1997) Proctor and Gamble in Eastern Europe, Harvard Business School.
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