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PESTLE Analysis; A Framework to Assess External Factors

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  PESTLE Analysis; A Framework to Assess External Factors   PESTLE stands for  P olitical ,  E conomic ,  S ocial , T echnological, L egal and E nvironmental  factors of the external environment. No sort of strategic management decision can be made for launching a new product or service without a thorough PESTLE analysis. All the factors of the PESTLE analysis can have a vital effect on your business in terms of varying implications, including: Duration of impact  – whether the impact will be short term or long term. Type of change  – whether the change will be positive or negative. Rate of impact  – whether the impact will increase, decrease, or remain unchanged. Importance  – whether the impact of the factor is critically important, important, or unimportant.  This is a popular tool for identifying external factors which are responsible to affect your organization’s stra...