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PESTLE Template Online

Create a custom report online with our PESTLE template! Add the data, choose your favorite template, and enjoy the result.
Table of content
  1. 🤔 Why Is PESTLE Important?
  2. ⚖️ PESTLE or PESTEL?
  3. 💁‍♀️ Tips on PESTLE
  4. 📍 References

🤔 Why Is PESTLE Analysis Important?

PESTLE analysis allows strategic analysts to see all the external factors affecting their service, program, product, company, or plan. There are several reasons why such an examination is critical for any business.

✅ PESTLE template provides:

  • A framework for assessment. Before starting a venture, business people have to calculate and assess all the possible risks. It involves understanding the political situation, prevalent economic factors, how the culture affects the markets, etc. Overall, the PESTLE analysis focuses on the external factors (macro-environmental factors) that affect organizations.
  • A tool for strategic evaluation. PESTLE analysis is more than just an overview of the market. It is a tool for strategic management that enables a company to see what it should do. Organizations need the instrument to understand the business environment in which a firm has to operate.
  • A technique for environmental scanning. PESTLE allows manufacturers to track the possible ecological impact of their actions and products. For instance, the tool considers such aspects as taste disposal laws, environmental protection laws, and regulations regarding energy. These are crucial for the farming industry, fishing, agriculture, natural resources, and tourism.

⚖️ PESTLE or PESTEL Analysis – What Is Correct?

During your research, you likely come across much similar wording. You might have encountered PESTLE, PESTEL, or even PEST analysis tools. So, which one is correct?

✅ Let’s start with a definition:

P Political
E Economical
S Socio-cultural
T Technological
L Legal
E Environmental
  • As you could’ve guessed, PEST is a variation of PESTLE, though shorter. It’s the same business analysis because it does not include Environmental and Legal factors. Other than that, both assessment tools perform the same functions for organizations.
  • PESTLE and PESTEL are the same things. Though the last two letters stand in a different order, they correspond to the same words. Analysts can use both PESTLE and PESTEL analysis interchangeably.

💁‍♀️ Tips on Using PESTLE Analysis Chart

Need to conduct a business analysis? Not sure when to use the PESTLE template’s results? Don’t worry! Here are some tips for completing a business assessment with our tool.

✅ Use it for Marketing PESTLE can be used not only for strategic thinking but in marketing too. Understanding the external factors will benefit how successful and creative the ad’s messaging will be. So, include the PESTEL analysis results in your marketing strategy. Consider how the current or future events can impact your advertisement.
✅ Track the Changes Having conducted PESTLE, remember that the external factors you’ve detected can change. Being aware of alterations can enable the company to remain competitive. Even big businesses like McDonald’s are affected by external events and trends. So, pay attention to such aspects as raising disposable incomes, increasing cultural diversity, and growing popularity of healthy lifestyles.
✅ Combine it with SWOT Use the PESTLE analysis in combination with SWOT, especially to identify possible opportunities and threats. Implementation of these tools together allows companies to see both internal and external resources. It will give a hoisting insight and ensure comprehensive planning.
✅ Apply the outcomes The information received with the help of the PEST analysis tool should affect everything related to your strategic decisions. Every critical aspect, from new products and services to your business’ performance, should be inspected with the results. It’s all about how you apply the output.

Thanks for reading! Now you know how your business assignment can benefit from our PESTLE analysis chart. Feel free to share it with your friends who might also need it and try other study apps we offer.

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📍 References

  1. PESTLE Analysis | LibGuides at Bentley University Library
  2. Is It PESTLE or PESTEL Analysis And What It Means? | PESTLE, SWOT and Business Analysis Tools
  3. PESTLE Analysis | UCF Research Guides at University of Central Florida Libraries
  4. P.E.S.T.E.L/P.E.S.T.L.E. Analysis of a Company, Industry or Product | LibGuides at Ithaca College