Do you need to carry out a PESTLE analysis for your business? Have you been tasked with a PESTLE group assignment and wondering how to do it? Then, you have found the right solution here. Our experts have a vast range of experience that leads to an impressive PESTLE report. So, if you require a quality and effective PESTLE analysis report, seek our reliable and affordable report-writing services.
This guide defines PESTLE, its components, the steps of writing one, its limits, and an example of a PESTLE report. Keep reading to learn these valuable tips and tricks.
A PESTLE is an acronym for an analysis tool used by businesses to analyze and assess the macro-environmental factors that affect their organization. This term stands for political, economic, social, technological, legal, and factors in the external environment. A PESTLE helps identify any threats and loopholes used in the SWOT analysis.
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When you set up any business, a lot of factors come into play that affects its stability. For instance, tax regulations and political issues may affect the survival of your business. Others, like religion, trends may dictate your business market. For example, setting up a pork eatery in a Muslim zone area will negatively affect your market.
A PESTLE analysis report provides critical information for your business and helps in decision-making. It has several benefits that are worthwhile for your organization. Therefore, let's learn how to write this report and later explore its benefits.
Your research should cover the present and future scenarios that apply to your business's industry. You should know your business to identify what will affect it more. This step will ensure you gather the relevant information that will help in planning and decision making
Identify the person who will gather data concerning the macro-environmental factors. These individuals should be skilled and keen.
These sources are also the components of PESTLE analysis. These factors that will help you gather data include the political, economic, social, technological, and legal
Mark each item in its order of importance concerning its potential risk to the organization. Then from this information, identify a business option that can address the issues. Write a PESTLE analysis report for all stakeholders.
PESTLE analysis covers six elements: political, economic, social, technological, legal, and environmental. If you need to understand how these factors affect other businesses in the same industry, conduct a case study. You can consider our valuable tips for research in our case study writing help.
These are political factors that benefit or hinder a business. The elements to consider under the political environment are:
These factors refer to the external economic challenges that can impact an organization’s success.
This environment deals with business market analysis, how a business understands its consumer's needs and addresses them.
In the modern world, technology plays a huge part in any business and causes negative and positive impacts. You require technology for communication, production of products and services, marketing, research, and more.
These factors tend to overlap with political factors. However, the legal refers to the laws and regulations your company should follow. These laws include copyright, exports, and more.
These outdoor factors of nature will affect your business, whether it’s or not related to the environment. All the environmental factors will directly or indirectly impact your business. For example, the geographical location of your business can affect the production and pricing costs.
The following are the gains of a PESTLE analysis for your business:
Let’s explore some PESTLE analysis examples in several systems:
Body shop business
The following are the macro trends affecting this business.
Political – implementation of trade in EU and UK, additional costs of importing products and raw materials from EU countries ( will affect profitability), and ethical standards could decline the quality of British cosmetics
Economic – inflation changes, rising variable costs as this company has 2000 employees in the UK, expenditure on skincare products that’s expected to rise
Social – increased consumption of skin health products has increased with age, lifestyle changes, greater environmental awareness, and mental and emotional well-being.
Technological –increased online expectations, more consumer willingness to use new products, more demand for personalized beauty and grooming
Legal – employment laws, health, and safety laws, some laws ban the use of chemicals in cosmetics, health safety laws
Environmental – 47% of clients consider plastic pollution a critical environmental issue, and the demands for green, sustainable, and healthy industries push for plastic-free packaging.
Forces that Affect Body Shop
When outlining your report, there are great examples that can guide you from this article.
A PESTLE analysis report is essential for our business, but it becomes effective with other analysis reports like SWOT. Therefore, you should learn to learn its drawbacks and act accordingly.
These tools are not the same, but they are essential in developing a strategic plan for your business. You can use them separately, but they are more effective when combined.
PESTLE analysis deals with the broad environmental scope of the business and the changes that occur within. In contrast, SWOT deals interpret the findings for the business to determine its strengths and weakness and opportunities and threats.
If you need to combine them, start with the PESTLE analysis, and finalize the SWOT analysis. So, SWOT aids in interpreting PESTLE and starting a risk management process.
To compile these reports, you require some business skills and writing tips. You can learn these techniques in our business essay writing service.
SWOT – this analysis focuses on strengths, weaknesses, opportunities, and threats. It assists an organization in realizing its positive factors and potential problems.
MOST – it’s a short form of mission, objectives, strategies, and tactics. It helps a company organize and analyze its organization’s internal environment.
SCRS – strategy, current state, requirements, and solutions. As you analyze your problems, you create an action plan.
After all the planning, decision making, and taking actionable plans, profits or money making is the main goal. Consider our financial report writing service if you require to evaluate your business financial position.
There are a lot of variations for PESTLE, and here is a quick round-up:
By now, you understand the meaning of PESTLE analysis, how to write it, its benefits, and some of its limitations. Again, you realize it's necessary to combine PESTLE with SWOT because it becomes effective. To make realistic and strategic plans, you must analyze the PESTLE report in the SWOT analysis.
Therefore, apply the above tips to write an excellent PESTLE report and implement it. If you need a helping hand or want to seek clarification, then contact our professionals.
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