It can also help determine the validity of existing products

sharminmoni3235

PESTLE analysis is a variant of PEST analysis. The PEST analysis was developed in 1967 by Aguilar as a way to scan factors in the external environment. According to Aguilar, companies should evaluate economic, technical, political and social factors that can affect business strategy. As the business environment evolved, legal and environmental factors were added to the PEST analysis model, thus building the PESTLE model .



Importance of PESTLE analysis in a company PESTLE analysis British Student Phone Number List of a firm allows managers, financial consultants and marketing teams to examine specific external factors (beyond their financial resources) to make an informed decision about the products and services they deliver to customers. For example, the manager of a company can use the PESTLE analysis as an example of indicators to help him identify the behavior of the end consumer, his culture and the frequency of purchase. Also, in addition to PEST analysis.



PESTLE is useful in designing different types of strategies, such as: Strategic business planning A properly developed PESTLE analysis provides contextual information about the direction a business can take, how the brand can be positioned, the growth objectives, but also the risks that can occur to productivity. It can also help determine the validity of existing products and define the criteria needed for new product development. Manpower planning PESTLE analysis can help identify disruptive changes that can influence business models and the future of the work environment. In addition, it can help identify problems related to employee skills, new positions, or reductions in existing positions in the organization chart. Planning of marketing activities This type of analysis provides the element related to "climate", extremely important in the analysis phase of the marketing process.