The PEST or PESTLE analysis is one of the most common diagnostic tools used in marketing and business planning. Its six basic perspectives provide a framework for understanding external factors which may impact the organization, which is easy to follow and yet the tool is so often misunderstood.
PESTLE – Political, Economic, Sociological, Ecological, Legal, Environmental.
PESTLE provides the external perspective to a SWOT analysis…
where: PESTLE + PRIMO-F = SWOT
Six simple rules for a successful PESTLE analysis
The Top 5 mistakes people make:
A concise PESTLE Analysis
Keep your PESTLE analysis short and focused. If it becomes too long-winded, you’ll soon forget some of the more important points and it will become less effective in the long term.
Conclusion
The PESTLE is a valuable tool that in the right hands and with the appropriate level of effort can provide a valuable insight into current and future strategy.
Remember to consider the results of the PESTLE analysis as just one tool in a variety of analysis methods that can form together to create a more realistic analysis of your organization
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