It underlines the usefulness of taking into account the impact of external factors and forces on the future. The PESTLE method is a popular method, for example in HR, training and development, organizational development and marketing courses. This variant includes most of the relevant factors. This article only discusses the PESTEL model. The result is a collection of variants, including the STEEPLED, DESTEP and SLEPIT models. Over the years the framework has expanded, where it started as PEST, now several other factors have been added such as environmental, demographic, intercultural and ethical factors.
It is often used in conjunction with other tools, such as Porter’s Five Forces Model and the aforementioned SWOT Analysis. The tool is particularly useful when starting a new organization or entering a new, foreign market.
What is the purpose of a PESTEL analysis? Do you want unlimited ad-free access and templates? Find out more DefinitionĪ PESTEL analysis provides the data that is used in a strategic management analysis, for example for a SWOT Analysis.
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