Define PESTLE – find the answers to common questions, and how PESTLE should be used.
PESTEL is a framework for exploring important external factors surrounding a project or product. It is a checklist that helps you remember what to explore in your external business environment to inform your actions, and to maximise your chances of success.
It stands for these common factors that affect products and projects:
Use PESTLE to help you remember which factors to explore, whilst planning your project or product.
It should be used during project and product planning, when plans and strategy are being set. It can be used to identify your RAID items (RAID = risks, assumptions, issues and dependencies) for risk management, and also to inform strategic plans.
Most problems with PESTLE arise when you rely on it alone for your planning. You need to use other tools too! Common issues:-
1. It does not give you the full picture on its own.
2. Life changes, so it needs to be updated.
3. It can be over-simplified.
4. It requires a lot of research to identify all factors.
5. It can be quite time intensive.
Short on time?
Use these templates to help with business best practice:
Templates, features, FAQs, business processes and HowTo guides for Business Strategy areas.
- PESTLE Analysis Templates
Related Business Best Practices
PESTLE and PESTEL are both acronyms for a macro environmental strategic analysis process. Find out more here.
Need help defining and prioritizing your PESTLE? Let us show you how easy it is to build out your PESTLE analysis and all the many factors that go into it.
PESTEL, or PESTLE, is an analysis process to help Marketers, Strategists and Product Managers avoid threats and uncover opportunities.
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