Pestle Tool
ASSIGNMENT
ON
PESTLE TOOL
[pic]
BY
SACHIN BABAN SHINDE
COURSE- MBA (Hospitality Management)
STUDENT DATA NUMBER-713520
Tutor – Don Burton
➢ What is the PESTLE tool?
PESTLE stands for Political Economic, Social, Technological, Legal and Environmental factors. PESTLE is to find out the businesses current position of any organisation in their external environment. PESTLE can be used as a basis for further planning and strategic management. Kotler (1998) “claims that PEST analysis is a useful strategic tool for understanding market growth or decline, business position, potential and direction for operations”.
PESTLE analysis is in effect an audit of an organisation's environmental influences with the purpose of using this information to guide strategic decision-making. The assumption is that if the organisation is able to audit its current environment and assess potential changes, it will be better placed than its competitors to respond to changes.
➢ Why PESTLE is a key concept in understanding the Business Environment?
• Proves to be a flexible and easy to understand tool in the context of strategic planning for business.
• Encourages the development of external and strategic thinking.
• It Can enable an organisation to anticipate future business threats and take action to avoid or minimise their impact.
• It Can enable an organisation to spot business opportunities and exploit them fully.
• It ensure that what you are doing is aligned positively with the powerful forces of change that are affecting our world
• PESTLE is very useful when a business starts operating in a new country or region.
• It helps to quickly adapt to the realities of the new environment.
• A PESTLE analysis is a useful tool for understanding the ‘big picture’ of the business environment in which an organisation is operating.
• A good PESTLE analysis means a business can take advantage of the trends and changes in the market place
ON
PESTLE TOOL
[pic]
BY
SACHIN BABAN SHINDE
COURSE- MBA (Hospitality Management)
STUDENT DATA NUMBER-713520
Tutor – Don Burton
➢ What is the PESTLE tool?
PESTLE stands for Political Economic, Social, Technological, Legal and Environmental factors. PESTLE is to find out the businesses current position of any organisation in their external environment. PESTLE can be used as a basis for further planning and strategic management. Kotler (1998) “claims that PEST analysis is a useful strategic tool for understanding market growth or decline, business position, potential and direction for operations”.
PESTLE analysis is in effect an audit of an organisation's environmental influences with the purpose of using this information to guide strategic decision-making. The assumption is that if the organisation is able to audit its current environment and assess potential changes, it will be better placed than its competitors to respond to changes.
➢ Why PESTLE is a key concept in understanding the Business Environment?
• Proves to be a flexible and easy to understand tool in the context of strategic planning for business.
• Encourages the development of external and strategic thinking.
• It Can enable an organisation to anticipate future business threats and take action to avoid or minimise their impact.
• It Can enable an organisation to spot business opportunities and exploit them fully.
• It ensure that what you are doing is aligned positively with the powerful forces of change that are affecting our world
• PESTLE is very useful when a business starts operating in a new country or region.
• It helps to quickly adapt to the realities of the new environment.
• A PESTLE analysis is a useful tool for understanding the ‘big picture’ of the business environment in which an organisation is operating.
• A good PESTLE analysis means a business can take advantage of the trends and changes in the market place