PESTEL analysis is a strategic tool organizations use to assess and understand the external macro-environmental factors that can impact their operations. PESTEL stands for Political, Economic, Social, Technological, Environmental, and Legal factors.
The analysis aids strategic planning and risk assessment by anticipating and addressing external factors impacting an organization's performance, competitiveness, and overall success. It offers a structured approach to consider the broader operational context and make informed decisions.
From Chapter 2:
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