GENERAL KNOWLEDGE

Detailed explanation-1: -This includes laws, government offices, and strain or pressure groups, which impact and limit associations and people in the general public.

Detailed explanation-2: -Political environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.

Detailed explanation-3: -Political factors in the macro environment include taxation, tariffs, trade agreements, labour regulations, and environmental regulations. Note that in PESTEL, factors are not characterized as opportunities or threats.

Detailed explanation-4: -The political environment is related to the business environment including all the rules and regulations, laws and the role of government in the day-to-day operations of organizations. The business political environment refers to the political or governmental actions that affect business operations.

Detailed explanation-5: -The political-legal environment is a combination of a lot of factors such as the current political party in power, the degree of politicization of trade and industry, the efficiency of the current government, government policies, current legal framework, the public attitude towards the economy, etc.