What is PESTLE Analysis?
In this video, I want to answer the question, what is PESTLE Analysis?
Watching this video is worth 1 Management Courses CPD Point.
This video is part of course module number 6.4.3
Program 6: Managing within an Organization
Course 4: Strategy
Section 3: Business Strategy
LESSON NOTES
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PESTLE Analysis is a simple, yet powerful approach to Horizon Scanning. It suggests six common sources of change:
• Politics and political change
• Economics and financial pressures
• Society and social change
• Technology and technical advancement
• Legislative and regulatory constraints
• Environmental pressures (macro and micro-scale)
There are many variants on the PESTLE Framework, most notably, the short form PEST analysis and the variant PESTER Analysis that substitutes Legislation for Regulation.
My favorite variant is one I coined myself. It spells our SPECTRES:
• Society and social change
• Politics and political change
• Economics and financial pressures
• Commercial and competition pressures
• Technology and technical advancement
• Regulatory and legislative constraints
• Environmental pressures (macro and micro-scale)
• Safety and security imperatives
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CHAPTER MARKERS
00:00 – What is PESTLE Analysis
00:12 – Defining PESTLE Analysis
01:09 – PESTLE Analysis as a Strategic Planning tool
01:28 – PESTLE Analysis as a Risk Identification tool
01:49 – Variants on the PESTLE Framework
02:17 – The SPECTRES Framework
03:27 – Summing up
#ManagementCourses #PESTLE #SPECTRES
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