External Influences: PESTLE Analysis

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Presentation transcript:

External Influences: PESTLE Analysis 3.1 Business objectives and strategy

Impact of external influences What you need to know Impact of external influences a) PESTLE (political, economic, social, technological, legal and environmental)

Concept links Economy Political Legal Ethical Social Technological PESTLE Economy Political Legal Ethical Social Technological

What is PESTLE Analysis? PESTLE Analysis is a framework for assessing the key features of the external environment facing a business

P E S T L E POLITICAL ECONOMIC SOCIAL TECHNOLOGICAL LEGAL PESTLE Analysis provides a useful way to analyse the overall external environment P POLITICAL E ECONOMIC S SOCIAL T TECHNOLOGICAL L LEGAL E ETHICAL / ENVIRONMENTAL

Examples of PESTLE Factors: Political Competition policy Industry regulation Govt. spending & tax policies Business policy & incentives

Examples of PESTLE Factors: Economic Interest rates Consumer spending & income Exchange rates Business cycle (GDP)

Examples of PESTLE Factors: Social Demographic change Impact of pressure groups Consumer tastes & fashions Changing lifestyles

Examples of PESTLE Factors: Technological Disruptive technologies Adoption of mobile technology New production processes Big data and dynamic pricing

Examples of PESTLE Factors: Legal Employment Law Minimum / Living Wage Health & Safety Laws Environmental legislation

Examples of PESTLE Factors: Ethical & Environmental Sustainability Tax practices Ethical sourcing (supply chain) Pollution & Carbon Emissions

An Example of PESTLE - Apple Controversy re phone security & terrorism Investment in innovation by competitors E L Economic slowdown in China Global crackdown on tax avoidance S E Demographic change Ethical sourcing & treatment of suppliers