PESTLE model
Critical Thinking Coursework Assessment
Can the PESTLE model assist a technology industry to expand into a new market effectively?
Introduction
The purpose of this essay is to discuss how PESTLE assists a technology industry to expand into a new market effectively. The main argument of this essay would be PESTLE model will be able to assists a technology industry to expand into a new market effectively because of this model will analyse external environment in six fields and detect the trend of market. Therefore, company or organization is able to make suitable strategy to minimize or avoid the influence of external-environment. This essay will concern on the factors of PESTLE model and illustrate the usage of each factor in environment analysis. Consequently, industry could be able to expand into a new market effectively through the PESTLE model.
The following parts of essay will be using Syngenta as an example to demonstrate how PESTLE model assist a technology industry to expand into a new market effectively. It will discuss how company affect by political factors, economic factors, social factors and technological factors. As the limitation of essay requirement, the legal and environmental factors would not describe in this paper. However, legal and environmental factors are significant in PESTLE model.
PESTLE model
The simple acronym ‘PESTLE’ stands for political, economic, social, technological, legal and environmental factors. PESTLE model is a useful tool to scanning the general environment of business. (Anthony, 2008, pp.51). There is a logical and comprehensive diagram of environment was assembled by PESTLE model. (Brooks & Weatherston, 2000, pp.7) The basic function of PESTLE model would be that it provides information and data which allow the company or organisation to predict future situations and circumstances. (Yuksel, 2012). Therefore, companies are able to minimize the influence of environment by PESTLE model.
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Can the PESTLE model assist a technology industry to expand into a new market effectively?
Introduction
The purpose of this essay is to discuss how PESTLE assists a technology industry to expand into a new market effectively. The main argument of this essay would be PESTLE model will be able to assists a technology industry to expand into a new market effectively because of this model will analyse external environment in six fields and detect the trend of market. Therefore, company or organization is able to make suitable strategy to minimize or avoid the influence of external-environment. This essay will concern on the factors of PESTLE model and illustrate the usage of each factor in environment analysis. Consequently, industry could be able to expand into a new market effectively through the PESTLE model.
The following parts of essay will be using Syngenta as an example to demonstrate how PESTLE model assist a technology industry to expand into a new market effectively. It will discuss how company affect by political factors, economic factors, social factors and technological factors. As the limitation of essay requirement, the legal and environmental factors would not describe in this paper. However, legal and environmental factors are significant in PESTLE model.
PESTLE model
The simple acronym ‘PESTLE’ stands for political, economic, social, technological, legal and environmental factors. PESTLE model is a useful tool to scanning the general environment of business. (Anthony, 2008, pp.51). There is a logical and comprehensive diagram of environment was assembled by PESTLE model. (Brooks & Weatherston, 2000, pp.7) The basic function of PESTLE model would be that it provides information and data which allow the company or organisation to predict future situations and circumstances. (Yuksel, 2012). Therefore, companies are able to minimize the influence of environment by PESTLE model.
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