What is political in PEST analysis?

When looking at political factors, you are looking at how government policy and actions may affect the economy, as well as the specific industry the business operates in.

What is economic in pestle?

ECONOMIC: Economic factors will include exchange rates, economic growth or decline, globalisation, inflation, interest rates and the cost of living, labour costs and consumer spending.

What is marketing PESTLE analysis?

PESTLE analysis sometimes referred to as PEST analysis, is a concept in marketing principles. This concept is used as a tool by organizations to keep a track of the external factors impacting the organization.

What are environmental factors in pestle?

Environmental Factors: These factors include ecological and environmental aspects such as weather, climate, environmental offsets and climate change which may especially affect industries such as tourism, farming, agriculture and insurance.

What are Pestel factors?

There are six factors to PESTEL analysis: Political, Economic, Social, Technological, Environmental and Legal. Political Factors—These factors describe how the government and the political system may influence the company’s Corporate Strategy.

What are the factors of PEST analysis?

The basic PEST analysis includes four factors: Political factors relate to how the government intervenes in the economy. Specifically, political factors have areas including tax policy, labour law, environmental law, trade restrictions, tariffs, and political stability.

What is PESTEL framework?

PESTEL Analysis Definition. The PESTEL framework is an analytical tool used to identify key drivers of change in the strategic environment. PESTEL analysis includes Political, Economic, Social, Technological, Legal, and Environmental factors, but other variants include PEST, PESTLIED (including International and Demographic factors),…

What is a PESTEL model?

The PESTEL model is an extremely popular business analysis model, which is used in a tool called PEST or PESTEL analysis.