1. Individual Assignment - PESTEL.Your mission is to identify the major factors influencing world affairs by performing a Macro Economic analysisusing PESTEL.You should consult at least 5 journal...

PESTLE Analysis
PESTLE Analysis
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PESTLE Analysis
Name of the student
Date
PESTLE Analysis
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PESTLE Analysis
Introduction:
With increasing competition and changes in the business, the businesses are strongly focusing on
analyzing its environment in which it operates. Environmental scanning can be said as the
monitoring, evaluating and disseminating of the information of the key managers within the
organization. It is an important aspect of strategic management as it is considered to be the first
link to analyze the environment in which the company is operating as the environment pose
important constraints as well as contingencies which affect the strategies and working of the
organization. Thus, environmental scanning is one of the most important aspect with which the
company analysis the environment in which the company is operating. The environmental
scanning is important as it highly affects the organization performance. (Kumar, Kamalesh;
Su
amanian, Ram; Strandholm, Karen, 2001)
The organization uses different tools to analyze the environment in which they operate. Some of
the tools that are used for analyzing the environment are PESTLE analysis, Porter’s five force
model, SWOT Analysis etc. These are some of the major tools that have been proposed by
different researchers.
PESTLE Analysis is one of the most common environmental analysis tool which helps in
analyzing the macro environmental factors which influence the working of the organization.
With the help of PESTLE analysis, different factors like Political, Economic, Social,
Technological, legal and environmental factors are analyzed which influences the working as
well as strategies of the organization. With the help of this analysis, organization is able to
analyze variable opportunities and threats that are faced by the organization. With the increasing
tu
ulence in the environment, the organizations are strongly focusing on adopting PESTLE
analysis as one of the most important tool with which the company is able to analyze its
environment. With the proper and continuous use of PESTLE Analysis, the firms are able to look
over different market opportunities, with this the organizations are able to take proper action
with the changing environment and stay ahead of the competitors.
PESTLE Analysis:
PESTLE Analysis
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PESTLE analysis is one of the most important tools that are used to analyze the external
environment. PESTLE Analysis stands for ‘Political, Economic, Social, Technological, Legal
and Environmental analysis. It describes the framework of different macro-environmental factors
which are used to analyze and scan the external environment which helps in the strategic analysis
of the organization. It helps in understanding the market in which the company operates, the
position of the business, and its directions for operations. The changes in the environment of the
firm has many facets which includes increased competition because of globalization, changes in
the attitudes and behavior of the consumers, the accelerated rate of the innovation, new laws and
egulations implemented by the government, ecological rethinking etc. All these aspects are
analyzed with the help of PESTLE analysis. (Haase, Franco, 2011)
Composition of PESTLE Analysis:
Political factors:
Political factors are the factors which state the intervention of the government in the economy
and other policies in the country; these may include different factors like policy on taxes, labor
law, restrictions of trade,...