Technological: This pertains to the technology and innovation state of the country that may affect the industry/company. What is the population structure? Is it an ageing demographics?.Are consumers increasingly buying through online channels?.
The culture and trends that are embraced by the society as a whole. Social: This scrutinises the social environment of the country. How is the foreign exchange performing? Is the local currency raising against others?.What is the inflation rate? Does it lower consumers’ buying power?.How is the economy? Is it growing or having a recession?.Did the government introduce any new tax or duty that will affect the company/industry?Įconomic: It looks at the health of the economy and other factors affecting it.Political: It looks at how a government can affect the economy or a certain industry. It is an acronym for Political, Economic, Social, Technological, Environmental and Legal. PESTEL analysis looks at a country’s general environment to determine whether it is favourable for a company/industry to operate in and if there are anything that the company can do to align itself towards the environment.
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