Six Essential Elements To Include In PESTLE Analysis

[Deborah Roughton]

MBA students often wonder, 'Can I do my assignment completely on my own?’ when professors ask them to conduct PESTLE analysis in the semester. The PESTLE analysis is basically a tool that highlights the micro-environmental factors concerning a specific organisation. This task helps you study and weigh the credibility of business strategies. Here are the key elements of a PESTLE analysis:
Political factors
Politics play a crucial role in any business. This aspect ensures that there is a balance between free markets and systems of control since that is necessary for a business to run successfully. You can say ‘do my homework’ to your friends if you aren’t able to organise the political factors in your assignment.
Economic factors
These factors help you assess the financial health of an organisation. The financial condition often changes, and you are required to identify the impact of changes on the organisation. You need to compare the existing levels of economic growth, unemployment and international trade.
Social factors
The social factors reflect the mentality of users or consumers in a given market. Common social factors include changes in lifestyle, population demographics, etc. The factors help an organisation decide when to borrow from investors.
Technological factors
Technologies in any form optimise an organisation’s internal working efficiency. Organisations implement technologies to make sure their products or services are not technologically obsolete. Thus, several business owners tend to get a basic idea of how programming works since the concept of programming help them understand the foundations of the technology.
Legal factors
As the name suggests, the legal factors include the laws and regulations that govern the position of a company in its current market. The legal factors are taken into consideration to make sure the company is acting responsibly. Some of the most common legal factors include employment regulations, patent infringements, antitrust laws, competitive regulations, etc.
Environmental factors
No organisation is allowed to harm the environment lest they might be consumers and governments. The latter even levy huge fines upon companies that tend to pollute the surroundings. The environmental factors include waste disposal laws, energy consumption issues, etc.
You need to include all these factors, and you will have a perfect PESTLE analysis ready for submission. In case of confusion or queries, you can opt for MBA essay writing service. Conduct thorough research relevant to your topic only.
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