Six Essential Elements That You Must Include In PESTLE Analysis

Management and business students are often asked to conduct a PESTLE analysis in Singapore to analyze and screen the external marketing environment of a particular company. A PESTLE analysis is a framework or tool that gauges the micro-environmental factors related to the organization. Conducting a PESTLE analysis can help you study and assess the credibility of business strategies. Now, you must follow a strict framework while conducting this analysis. The major elements of a PESTLE analysis framework are:

· Political factors

Politics play an integral role in any business. After all, there must be a balance between free markets and systems of control for a business to run successfully. You can say your friends ‘do my assignment’ if you aren’t able to organize the political factors in your assignment.

· Economic factors

Economic factors help you measure the health of any organization in an economic region. The economic state often changes, and you must find out how the change affects an organization. So, you have to compare the current levels of international trade, economic growth, inflation, and unemployment.

· Social factors

These assess the mentality of consumers or individuals in a given market. Some common social factors are population demographics, changes in lifestyle, educational levels, etc. These factors help an organization decide when it’s a good time to borrow from investors.

· Technological factors

The role of technology is of utmost importance for any business. Technologies, after all, can optimise internal working efficiency and prevents a product from becoming technologically obsolete. You may not find enough technological factors to include in your assignment. In that case, you can get assignment help from the right experts.

· Legal factors

Discuss the laws and regulations that govern the position of a company amid its competitors. Legal factors can affect a company that does not act responsibly. Some of the most common legal factors include employment regulations, patent infringements, antitrust laws, competitive regulations, etc.

· Environmental factors

Consumers and governments often penalize firms that may have an adverse effect o the environment. In fact, governments levy huge fines upon companies that tend to pollute the surroundings. The environmental factors include waste disposal laws, energy consumption issues, etc.

Include all these factors and you will have a perfect PESTLE analysis-ready in no time. Make sure you conduct thorough research relevant to your topic no matter what. Filter the research findings to use only the most important information in your paper.

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Created on Oct 19th 2020 05:40. Viewed 316 times.

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