Question No 28:
What is PESTEL analysis?
The PESTEL analysis examines the broad environment in which the organization is operating. PESTEL is a mnemonic which stands for Political, Economic, Social, Technological, Environmental and Legal. These are simply 6 key areas in which to consider how current and future changes will affect the business. Strategies can then be developed which address any potential opportunities and threats identified. There are various alternatives to this, the most common being the slightly simpler PEST analysis.
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