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PESTLE Updated for 2022

In 2022, entrepreneurs launching new products and services must consider the new ecosystem of Political, Economic, Social, Technological, Legal, and Environmental factors.

PESTLE is a well-known analysis tool in the business world. It was developed in 1988 to help people assess external factors that could affect their business, and has been updated every few years since then. This blog post will show you how to use PESTLE for 2022 – new tips and techniques that are essential for success!

Some PESTLE basics

What does PESTLE mean?

P is for Political.
E is for Economic.
S is for Socioeconomic.
T is for Technological.
L is for Legal.
E is for Environmental.

How do I present a PESTLE analysis?

Prioritize the factors that you unearth in each PESTLE category. Select the factors that will:
a) have the most profound effect in steering the direction of your business.
b) require opportunity investment or risk mitigation.

How do I create a PESTLE Analysis?

There are a variety of formats: Cheat sheets, matrices, backlogs, and more. You can see a variety of PESTLE formats here.

Why does PESTLE need to change in 2022?

The world is still recovering from the effects of the pandemic. The United States has been able to regain its footing, but other countries are still struggling with food shortages and political unrest. Despite these issues, though, there are ways that businesses can take advantage of opportunities in their environment for success! This guide will update you on what’s changed since 2019 – how PESTLE analysis needs to be different now than it was then – as well as provide new tips and techniques for conducting a successful PESTLE Analysis.

Top PESTLE Factors in 2022

What are the important PESTLE factors to watch in 2022?

1. Political: Increasing international tensions; Increased polarization on all topics.
2. Economic: The effect of de-centralized currencies (crypto); Green tech pressures.
3. Socioeconomic: Personal space issues; Transport preferences; Working preferences; Gaming
4. Technological: Remote working tech; Crypto tech;
5. Environmental: Green concerns;
6. Legal: Changing legislation around health status;
7. Ethical: Rising unrest around equality; Rising unrest around Liberty;

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PESTLE Analysis

PESTLE Cheat Sheet for Keynote on Mac

What? Do you mean Pestle and Mortar?

No we don’t. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental. It’s a well established way of  a business or enterprise to track the wider environment in which they are operating in.

Is it still relevant?

Yes. Well mostly – there has been some debate about that. The problem is that if you undertake the analysis work once you tend to not review it for awhile so it feels static despite the world changing fast. Other methods have been suggested; STEEPLE being one (Social, Technological, Economic, Environmental, Political, Legal and Ethical)

I get confused between what falls into what category.

Us too!

The main challenge is keeping your PESTLE Analysis current!

As long as you cover all factors in your project, AND KEEP IT CURRENT then you are doing very well. Some points can be argued into different areas of the PESTLE, and if this is the kind of discussion going on over your PESTLE document, then you have covered all the important points.

Some examples might help.

Of course. Here we go:

Example PESTLE Analysis items

Political – If an election is due and there is public pressure to reduce spending in an area where traditionally there are government subsidies this is a factor!

Economic – Oil prices hit a low; if your business has heavy transportation costs this will start to help.

Social – The rise of E-cigarettes is seen as a healthier and more socially acceptable alternative to traditional cigarettes

Technological – Back to E-cigarettes – the technology behind them (essentially a delivery system) allowed the industry to explode.

Legal – Unless the above were to be made illegal

Environmental – European short-fall of snow affecting ski resorts the most obvious example

Anything else we should know about PESTLE?

Yes.

PESTLE Analysis documents and guides for further use can be found here