BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Political Factor
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Economic Factor
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Social Factor
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Technological Factor
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Detailed explanation-1: -A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation.
Detailed explanation-2: -It is a method of assessing your business environment and its possible impact on the performance of your company. PESTLE is an acronym that stands for six external factors affecting your business: political, economic, sociological, technological, legal and environmental.
Detailed explanation-3: -Examples of important legal factors include employment laws, health and safety regulations, discrimination laws, and antitrust laws.
Detailed explanation-4: -A PESTLE analysis allows a strategic and systematic evaluation of a business’s prospects, risks and opportunities in a new environment. While a SWOT analysis concentrates on a company’s internal processes, PESTLE provides information on external factors. PESTLE can be used for large and small scale projects.