PESTEL Analysis

PESTEL Analysis is a tool used to understand the external factors that can impact an organization. It examines six key areas: 1. **Political** - government policies and stability. 2. **Economic** - economic conditions like inflation and unemployment. 3. **Social** - societal trends and cultural aspects. 4. **Technological** - technological advancements and innovations. 5. **Environmental** - ecological factors and sustainability. 6. **Legal** - laws and regulations affecting the industry. By analyzing these factors, businesses can make informed decisions and strategize effectively in response to their external environment.