PESTLE & SWOT analysis

Question 1

What does PESTLE stand for?

Answer 1

Political
Economic
Social
Technological
Legal
Environmental

Question 2

Why is PESTLE useful?

Answer 2

-Tool for businesses to evaluate external factors that can affect their performance & decision making
-Helps identify changes, opportunities & lessen risks

Question 3

Give examples on political factors that can affect the business

Answer 3

-Labour shortage
-Environmental policies
-Health policy
-Animal disease schemes

Question 4

Give examples of economic factors that may affect the business

Answer 4

Land value - market volatility - location of food far from location consumer - supply chain efficiency - currency volatility - low growth - Risk & dept

Question 5

Give examples of social factors that may affect a business

Answer 5

-Ethical concerns rising
-Aging population
-changing consumer taste & behaviour
-Mental wellbeing

Question 6

Give some examples of technological factors that may affect a business

Answer 6

-access to info + speed of access
-AI/ robots
-real time data & decisions - monitor equine performance metrics (measurements)
-genetics & alt processes - biotech in breeding

Question 7

Give some legal factors that may affect a business

Answer 7

-Working time directives
-Health and safety act
-Animal welfare act
-Living/ minimum wage

Question 8

Give some environmental factors that affect a business

Answer 8

-soil quality/ fertility
-water quality & availability
-air quality
-pollinators & biodiversity
-plastic
-measuring industry footprint
-extreme weather