What Is Pestle Analysis?

Pestle is a way that the new business owners can look at the environment and place where they want to start a new company as a whole.  This gives the person or persons that want to launch a new company an understanding about the potential customers and how their market will be in the area.  It is a way that they can see how the market works in a certain area.

Pestle stands for:

P- Political

E-Economic

S-Social

T- Technological

L-Legal

E-Environmental

        All the aspects of this technique are very important for the potential business. More than just understanding the market, this framework represents one of the vertebras of the backbone of strategic management that not only defines what a company should do, but also accounts for an organization’s goals and the strategies stringed to them (Pestle, 2015). This is very important for the company. The company has to look at if it is the right time to start this type of business. They need to understand how the economy is at the time and if the demand for the product is current.  This is a better analysis of the swot analysis.

        As a team we have to learn to work together. Each person will have a major role in the online market place. We have to make sure to do all of our jobs and help one another. Sometimes the information may be needed to be done before the next person can move on. It is important that we work together in the market place.

        Team work is essential. We have to learn to work together and communicate. The team has to understand that the company will not succeed unless communication between one another is done.

References:

Pestle Analysis 2015 retrieved from http://pestleanalysis.com/what-is-pestle-analysis/