Understand the PESTLE Framework for External Business Analysis
A PESTLE analysis is mainly involved with studying all the external factors that can directly or indirectly impact future long, medium or short term strategies. Its an acronym that stands for POLITICAL, ECONOMICAL, SOCIAL, TECHNOLOGICAL, LEGAL AND ENVIRONMENTAL. These are all mainly external factors.
The results of a PESTLE analysis are used to inform the SWOT analysis which in turn identifies the factors which may emerge or impact the strategy.
| Translate into tasks for the project plan | Strengths | Weaknesses |
| Opportunities | How do i use these strengths to take advantage of these opportunities? | How do i overcome the weaknesses that prevent me taking advantage of these opportunities ? |
| Threats | How do i use my strengths to reduce the likelihood and impact of these threats? | How do i overcome the weaknesses that will make threats a reality? |
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