You can do a PESTLE Analysis any time you’d like to strategically assess where you are and what you’re likely to experience in the future. PESTLE analyses are useful because they help inform strategic planning, budget allocation, and market research. Organizations use PESTLE analyses to discover, evaluate, organize, and track the macroeconomic factors underlying business outcomes. Each of these concepts is an external factor that could represent opportunities and threats to your organization. PESTLE stands for the six main external factors that can influence a business: Political factors, Economic factors, Social factors, Technological factors, Legal factors, and Environmental factors. A PESTLE analysis is a strategic business tool that allows organizations to understand how various elements might impact their businesses now and in the future.
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