![]() We know you may be wondering, what does PESTLE stand for?Į stands for environmental factors. When you complete your analysis for each PESTLE category, you are left with a complete external view of all of the factors that have an impact on your organisation. The wider context that your business operates in plays a pivotal role in your business’s performance, but without you manually researching the market, external factors have the potential to cause harm to your business goals. ![]() Often when business owners have worked in their field for a long period of time, they can forget to acknowledge changes in the world around them. This is because each letter stands for an external factor that can influence your business. It was initially created as an environmental scanning tool for businesses, to help business owners see the bigger picture. ![]() So, what is PESTLE? PESTLE is an acronym where each letter stands for a different category in which you complete your analysis under. There are many tools that can help you to conduct an analysis one of which is a PESTLE. It helps to gain a greater understanding about something and learn about its essential features, its good and bad points, and how these apply to you. An analysis is a detailed examination of a particular thing. ![]() When considering what a PESTLE analysis is, it can be helpful to first understand what is meant by an analysis. ![]()
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