PESTLE Flashcards
1
Q
define external influences
A
is a factor beyond a firms control that can affect its performance
2
Q
what is pestle and what does it help?
A
- an analysis tool that looks at external factors and how they may have an impact on the business
- this aids: objective setting, decision making
3
Q
what does the P stand for and what examples?
A
POLITICAL
- change in environment
- tax rates
- tariffs = importing to the UK
4
Q
what does E stand for and what examples?
A
ECONOMIC
- interest rates
- unemployment rates
- recession/inflation
- business cycle
5
Q
what does S stand for and what examples
A
SOCIAL
- change in demographics
- social trends
6
Q
what does T stand for and what examples?
A
TECHNOLOGICAL
- eCommerce
- new computer systems
- automation
7
Q
what does L stand for and what examples?
A
LEGAL
- health and safety act
- laws and legislations
8
Q
what does E stand for and what examples?
A
ENVIRONMENTAL
- climate change
- sustainable production
