PESTLE analysis is an invaluable business tool that analyzes six different groups of external factors, all of which can affect businesses.
The external factors that affect a business are the variables which influence the operation of a company despite their innate inability to be changed.
Legal factors in PESTLE analysis play a big part in deciding how businesses operate and what profits they receive, as well as how customers behave.
Technological factors are one of many external factors that can affect businesses, and are an integral part of PESTLE analysis.
Environmental factors that affect business refer to the physical environment on Earth, including everything from climate to the availability of resources.
Understanding how Economic factors affect business is essential to making smart decisions and guiding your company to greater heights.
The last letter in the SWOT acronym is T, which stands for Threats. Read the definition and examples of threats in SWOT analysis.
The third letter in the SWOT acronym is O, which stands for Opportunities. Read the definition and examples of opportunities in SWOT analysis.
The second letter in the SWOT acronym is W, which stands for Weaknesses. Read the definition and examples of weaknesses in SWOT analysis.
The first letter in the SWOT acronym is S, which stands for ‘Strengths’. Read the definition and examples of strengths in SWOT analysis.