BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A PESTLE analysis is a tool used to gain a macro picture of an industry environment. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. It allows a company to form an impression of the factors that might impact a new business or industry.

Detailed explanation-2: -PESTLE analysis is a useful tool for understanding the big picture of the environment in which an entrepreneur is planning to operate. PESTLE stands for Political, Economic, Sociological, Technological, Legal, and Environmental.

Detailed explanation-3: -Social factors include demographics (age, gender, race, family size); consumer attitudes, opinions, and buying patterns; population growth rate and employment patterns; socio-cultural changes; ethnic and religious trends; living standards.

Detailed explanation-4: -In particular, PESTEL reflects the names of the six segments of the general environment: (1) political, (2) economic, (3) social, (4) technological, (5) environmental, and (6) legal.

Detailed explanation-5: -Sometimes called PESTLE analysis when legal and environmental impacts are also included. An example of Porters Five Forces is the Supplier power, Buyer power, Competitive rivalry, Threat of substitution, and Threat of new entry.