PESTLE analysis, competition and how external factors beyond the firm's control affect business decisions.
Businesses operate within an external environment they cannot control but must respond to.
PESTLE analysis
- Political: government policy, stability, trade rules.
- Economic: growth, interest rates, inflation, unemployment, exchange rates.
- Social: demographics, tastes, lifestyle changes.
- Technological: automation, e-commerce, innovation.
- Legal: employment, consumer and health-and-safety law.
- Environmental: sustainability, climate, waste regulation.
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