PESTLE analysis, the impact of economic, political-legal, social, technological and environmental factors, and the difference between controllable and uncontrollable influences.
The external environment
Businesses operate within an external environment they cannot control. The PESTLE framework organises these influences:
Political — government stability, trade policy, taxation, subsidies.
Economic — growth, inflation, interest rates, exchange rates, unemployment.
Social — demographics, tastes, lifestyle, attitudes.
Technological — automation, e-commerce, new products and processes.
Legal — employment, consumer protection, competition and health & safety law.
Environmental — climate change, sustainability, waste and emissions.
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