PESTLE factors Flashcards
What does PESTLE stand for?
Political, Economic, Social, Technological, Legal, Environmental factors
What is the purpose of the PESTLE analysis framework?
To measure external factors that may affect business success and survival in the economy
How can political factors influence construction projects?
Change of government may lead to adjustments in priorities, affecting business opportunities and profit projections
What are some economic factors that impact successful business activity?
- Regulation of the economy by the banking sector
- Changes in interest rates
- Economic effects on employment rates
Fill in the blank: Successful business activity is dependent on a number of _______.
[economic factors]
What social influences must be considered in construction project decisions?
Changing demographics and trends in migration affecting project priorities
How do technological factors affect construction?
- Implementation of BIM
- Changes in broadband and telecommunications
- Introduction of immersive technologies
- Application of manufacturing processes
What legal changes may affect construction projects?
- Changes in planning laws
- Adjustments in building regulations
- Tax changes impacting worker availability
- Health and safety law applications
True or False: Changes in waste disposal licensing do not affect construction costs.
False
What environmental factors may impact construction activities?
- Changing emissions targets
- Waste disposal licensing
- Requirement for sustainable materials
Fill in the blank: The application of health and safety law may require changes in _______.
[work practices and habits]
