Often you might wonder whether PEST and PESTEL are same or not. Well, Sample Assignment is the platform where you would not only get the answer to this question, but also get an example of PESTEL analysis in a tabular form.
To begin with, “PEST” stands for Political, Economic, Social and Technological and describes the macroeconomic factors which are used in strategic management. However, some analysts did not believe that this analysis could account for the legal and environmental aspects in some scenarios. As a result, PEST gets expanded to PESTEL or PESTLE.
Understanding The PESTEL Tool
To make it easier for you, you can imagine “PEST” as the broad umbrella of the analysis. Narrowing it down and adding more extensions to this in the form of legal and environmental aspects makes it PESTLE or PESTEL analysis. Understood?
If not, let the info graphic below do all the talking.
PEST is a really simpleyet very effective which is widely used to analyse and recognise the key external factors which have an impact on an organisation. These factors can contribute to build both opportunities as well as threats for the firm.
Thus, our marketing assignment help experts help you carry out PEST analysis to trace all the external factors impacting the organisation, recognise all those factors which can impact the organisation in the future and optimise the opportunities and fight against the threats.
These factors talk about the role of government in the economy. For this, the experts of our marketing assignment writing services guide you to analyse all the tax policies, tariffs and more. Furthermore, we also help you understand how the government institutions are influencing the health and education in a nation.
Under this, we help students understand the interest, inflation and exchange rates. Students also face problems in tracing the economic growth of a nation, which drives them to us.
While analysing the social aspects in any organisation, our marketing assignment help experts guide students on various elements such as population growth rate, safety, age distribution, health consciousness and more.
Rate of technological change is analysed within an organisation. This way, barriers to entry and other important outsourcing decisions are taken in the specific organisations.
Now, talking about PESTLE analysis.
Adding extensions to PEST makes it PESTLE or PESTEL analysis.
While analysing the legal aspects, our marketing assignment help experts guide students on various laws such as discrimination, consumer, health and safety and more. This is because these laws revolve around the functioning and cost involved in any organisation.
This analysis consists of various environmental aspects affecting an organisation such as the weather and climate. This is because many industries such as tourism, farming and others are affected by weather and climate.
Sample PESTEL Analysis Template By Our Marketing Assignment Writers
So, now that you know the basics of a PESTEL analysis, as promised in the beginning, our marketing assignment help experts are here with a sample template which you can easily use for carrying out your own PESTLE analysis in your assignments or even in your organisation!
|Political factors||Economic factors|
l Corruption level
l Trade control
l Freedom of press
|l Interest rates
l Labour costs
l Inflation rate
l Exchange rates
l Monetary policies
|Socio-cultural factors||Technological factors|
l Population growth rate
l Social classes
l Religion and beliefs
|l Technology incentives
l Communication infrastructure
l Basic infrastructure level
l Access to recent technology
l Rate of technological change
|Legal aspects||Environmental aspects|
|l Copyrights, patents
l Data protection
l Consumer protection
l Anti-trust law
l Employment law
l Endangered species
l Managing waste
Aren’t you feeling like a king now? After having this template, we don’t feel you would face any challenges in dealing with PESTLE analysis. We know that now you are in a position to explain this to your friends as well, aren’t you?
Well, this is not something new for Sample Assignment. We have been doing this for hundreds of thousands of students globally, in a plethora of subjects such as economics, management, law, nursing and more.
Standing firm in the academic industry for more than 7 years now, we aim at providing utmost satisfaction to our clients with the help of samples and reference solutions. So, what are you waiting for? Get going with the PESTEL analysis for yourself and contact us now for more such academic guidance via the order now form.