PESTEL Analysis
PESTEL Analysis is a strategic framework used by organizations to understand the macro-environmental factors that could impact their operations. This tool is often used in the initial stages of strategic planning, providing a comprehensive overview of the external environment in which a business operates. PESTEL stands for Political, Economic, Social, Technological, Environmental, and Legal. These are the six broad categories of external factors that the analysis considers. By examining these factors, organizations can identify potential opportunities and threats, which can then inform their strategic decisions.