Pestel Analysis Assignment Help
PESTEL analysis Assignment Help which showcases benchmarks is now insinuated as PEST analysis.
Questions to consider when doing PESTEL Analysis Assignment Help;
Certain questions must be taken into account when conducting PESTLE analysis as it gives an idea of what factors to consider.
- Determine the political situation of the country and how it may impact the business or industry?
- What are the prevailing economic factors affecting the business or industry?
- How does social environment and culture affect the business or industry?
- What technological advancements are present and likely to be introduced that may affect the market structure?
- Which polices and legal conditions are regulating the business or industry?
- What are the environmental factors that impact the business or industry?
The above-mentioned technique covers all aspects which are crucial for all industries a business might be in. This framework works as a backbone of strategic management which doesn’t only define what a company should do but also account for business strategies and goal stringed to them.
Do you find difficult to conduct PESTLE Analysis of a business? Is it hard to keep a track on key factors and its determinants, or analyzing these in particular situation is challenging? Well, all this could be easily tackled through online assignment help from business subject experts. Assignment Studio has business online assignment experts on board who possess vast subject knowledge and deliver accurate solutions for every assignment help a client request. Also, the quality of the content is not to be worried about as the writer use trusted plagiarism checker to assure quality work and provide a free report, if asked. So, get stress free by relying on us for your university assignment help and excel in business subjects with our reliable assistance
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What is PESTEL Analysis?
A PESTEL analysis is a framework which helps in monitoring and analyzing macro-environmental factors that influence an organization and its performance. The key factors (Political, Economic, Sociological, Technological, Legal and Environmental) allow to have professional insights into the factors that may impact the organization. This tool is useful and flexible for organization in wide-ranging scenarios such as strategic decision making. Many of the times, this tool is used with other analytical business tools such as Porter’s Five Forces and SWOT analysis to offer a rich understanding of related internal and external factors. The PESTLE analysis include:
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Political Factors:
These factors determine the extent to which government may influence a certain industry or an economy. Basically, all governmental influences on business are classified in this part. It covers tax policy, government policy, corruption, labor law, foreign trade policy, political instability, fiscal policy, trade tariffs etc. Moreover, the government role affects health regulations, education system and infrastructure. It must be considered when measuring attractiveness of a potential market.
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Economic Factors:
These factors are elements of economy’s performance which impact company and leave long term effects. For instance; increase in inflation may affect pricing of company’s product and services, alongside the consuming purchasing power which change the demand/supply in the economy. The factors encompass economic growth, inflation rate, exchange rate, interest rate, unemployment rates and disposable income of consumers. It may have direct as well as indirect enduring impact on a business.
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Social Factors:
It analyzes the social environment of market and measure determinants such as demographic characteristics, cultural trends, norms, customs and values, population trends, health consciousness, income distribution, safety emphasis all within which the organization operates. It is crucial for marketers when they have to target certain customers.
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Technological Factors:
These factors relate to technological innovations and advancements that may affect the industry operations and impact the market favorably or unfavorably. It directs to level of innovation, research and development, technology incentives, technological change, and automation that the market is affected by. It may influence decisions to enter the market, product launching and outsource production activities in foreign countries. Being aware technology-wise, it becomes clear to prevent spending on a technology that may become outdated because of disruptive technological changes.
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Environmental Factors:
It comprises of all the key elements which are determined or influenced by surrounding environment, important for industries like farming, tourism, agriculture etc and also significant due to carbon footprint targets, scarcity of raw materials and pollution control set by governments. The factors of business environmental analysis consider these but are not limited to weather, environmental offsets, climate change, geographical location etc. Additionally, increasing awareness of the affect of environmental factors is impacting the way company operates and offer their products. This has resulted in companies practicing corporate social responsibility (CSR).
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Legal Factors:
The legal factors holds both internal and external sides. Companies maintain certain policies for themselves, also there are laws that may affect them in particular country. Although, it may somewhere overlap with political factors. It also takes in specific laws such as antitrust laws, discrimination laws, employment laws, health and safety laws, copyright and patent laws and consumer protection laws. Companies are required to work on legal grounds in order to operate ethically and successfully. In addition, it is important to be aware of potential changes in legislation to understand its future impact on business.
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How does Online Assignment Expert Does PESTLE Analysis For Your Assignment?
PESTLE Analysis is easy when one is aware of its framework and the determinants each key factor holds. According to experts, carrying out a PESTEL analysis must begin with a think tank and process planning. This calls for following these steps:
- Identifying the research scope. It must cover all current and future scenarios, that is applicable to business operations.
- Deciding the way information should be gathered as rich data can be collected when various sources are considered.
- Identifying appropriate and authentic sources of information covering stakeholders to address particular problems.
- Considering a template to record the information in a logical and structured manner.
- Analyze the findings.
- Identifying factors that causes
- Identifying business specific options for addressing issues.
- Discussing the findings keeping in mind the decision makers and stakeholders.
- Deciding the actions which must be taken by tracking the trends on an ongoing basis.
Organizations which systematically and regularly conduct such analyses are often the one who track the trends before others, hence giving a competitive advantage.
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