pestle

Topics: Management, Marketing, Economics Pages: 15 (1869 words) Published: December 2, 2013
an inTroducTion To

PESTLE anaLySiS

SMALL BUSINESS INFORMATION SERIES

February 2011 Edition

>

© Housing Industry Association

February 2011 Edition

>

I
HIA

members:
Have direct access to practical advice and
professional assistance including the latest information
on technical, regulatory and business matters;
Receive the latest market information on consumer
trends, new products and materials; and
Benefit from increased business opportunities through
skills development, access to a wide industry network
and being actively promoted Australia-wide as being
‘the best in the business’ by their industry association.

For further information on the benefits of
HIA membership or how you can join HIA,
go to hia.com.au or call HIA on 1300 650 620.
The content of this guide as
provided by Housing Industry
Association Limited (HIA) is
practical information of a
general nature only for those
who are operating, or who have
decided to commence, a small
business. The information
provided is neither financial nor
investment advice, and
participants should make their
own judgment on the
application of this information to
their own personal
circumstances, if necessary,
after obtaining accountancy or
other professional advice. HIA
will not be liable for any loss or
damage arising from the actions
of any individual based on or
relying on any of the information
provided in this guide.

AN INTRODUCTION TO PESTLE ANALYSIS

How this guide can help you
run your building business
It is easy to get bogged down in the day-to-day
running of your business and end up not being
able to “see the forest for the trees.”
Every now and again, a business owner should
stop, stand back and have a look at the bigger
picture. It’s a way of checking that your
business is still relevant to the market-place.
The PESTLE Analysis is a technique that
can help you do this in a simple and
structured way.

What is a PESTLE Analysis?
How do I conduct a PESTLE Analysis?

AN INTRODUCTION TO PESTLE ANALYSIS [FEBRUARY 2011]

This guide explains the simple business
planning technique of a PESTLE Analysis in
two parts, being:

3
© Housing Industry Association Limited ABN 99 004 631 752

1
What is
“PESTLE”?

What is PESTLE
Analysis?

PESTLE is shorthand for a list of “macro-economic”
factors that:
> already; or
> may, at some time in the future,
affect your business.
“Macro-economic” is a fancy way of describing those
external factors which will/may affect your business but over which your business has no control.
Those factors are grouped under the following headings:
> Political
> Economic
> Socio-cultural
> Technological
> Legal
> Environmental

The factors that you would include in your list will
depend on the nature and size of your business.

AN INTRODUCTION TO PESTLE ANALYSIS [FEBRUARY 2011]

What is the
“analysis”?

The analysis phase consists of a 2 step process, being:
> Evaluating the impact (both actual and likely) that
each factor may have on your business; and
> Planning those actions you may wish to take to:
– minimize any threats; and
– maximise any opportunities

This analysis can be used for a number of purposes,
such as business planning, marketing strategy, and new
product development.

4
© Housing Industry Association Limited ABN 99 004 631 752

2

How do I conduct a
PESTLE Analysis?

The steps to
follow:

To conduct a PESTLE Analysis, you need to take
the following steps:

Step 1: Make a list
Write down the headings and, under each heading,
write down those factors that:
> already; or
> are likely to,
affect your business. If possible, try to include trends.
To help you with this exercise, we have included a template
document in Appendix A for you to use.

Step 2: Think about it
Now you have made your list, it’s time to sit down and
think about:
> how each factor (or combination of factors):
–...
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