PESTEL, or PESTLE, is an analysis process to help Marketers, Strategists. Use a pestle analysis template.
Use a pestle analysis template so that you can save time.
- For each of the PESTEL areas, brainstorm a list of FACTORS: what affects your project?
- Organise each area into a prioritised list; 1 for Political, 1 for Economic,… etc
- Take the top e.g. 6 items in each of the 6 lists, and score the impact.
- Arrange the findings onto a 1-side document format, so that your teams can hold these factors in mind.
By Business Documents UK Ltd Team . Published: 2016/05/15 8:56:25 PM, Last Updated: 2020/05/08 12:16:36 PM Answer URL
PESTEL Analysis is an examination of macro environment and external factors to help us understand the context and pressures for a Product, Project, Business Area or Organisation – e.g. including unemployment factors.
PESTEL helps us understand the situation our Product operates in, by describing “Factors”.
It involves investigating 6 areas: Political, Economic, Social, Technological, Environmental, Legal (that make the acronym PESTEL).
Take PESTEL further – don’t just make lists!!
Most accounts of PESTEL analysis involve exploring these areas to make lists of factors that are relevant.
We would advise taking it 1 step further, prioritising and then scoring the impact of your factors, in order to best inform your plans and keep your team aware of its operating environment. Use a pestle analysis template.
Plotting the impact of your PESTEL factors informs your PESTEL Product Strategy
- Brainstorm the FACTORS:
- Organise the list of items you have made for each area with most important at the top.
- Don’t spend too long at this stage.
- Just make rapid lists.
- Focus on the most important:
- Take the top 6 items in each of the 6 lists.
- Score the impact: Low, Medium, High.
- Present it:
- Arrange the findings onto a 1-side document format.
- Use a pestle analysis template
- Promote it, so that your team bears these factors in mind.
Other areas to check when you are brainstorming: unemployment rates, social factors, interest rates, trade restrictions, carbon footprint, disposable income.