Question

4) Explain the PESTEL Analysis for International Growth by clearly clarifying each component separately. Then underline the one component of each variable that is the most important. (8 points)

Answer 1

PESTLE analysis is a tool for restoring macros in the work environment. PESTLE is a political, economic, social, technical, legal and environmental factor.

Factors affecting or possibly affecting your new business. For other types of business, certain factors are more important and PESTLE analysis helps determine the risks of SWOT analysis. PESTLE can be used on large and small projects.

1. Political Factors:

Political factors such as government policy, political stability or foreign markets, foreign trade policy, tax policy, labor law, environmental law and trade sanctions often affect organizations.

Organizations need to be able to change and change their marketing policies.

2 Economic factors:

These include economic growth, interest rates, exchange rates, inflation, disposable income and trade. These factors can be divided into macroeconomic and microeconomic factors. Macroeconomic factors are related to demand and management in all countries. Microeconomic factors are linked to consumption and consumption patterns.

3. Social factors:-

These factors include population growth, age distribution, health awareness and career opportunities. This project is specifically designed for customer interest and marketing.

4. Technological Factor:-

Today, technology is changing rapidly and affecting the market and products. Technical factors affect marketing and management.

New ways of producing, distributing and marketing products and services.

5. Environmental factors:

The lack of raw materials is essential for entrepreneurship and ethical and sustainable governance.

Ethical products that consumers must buy ethically must come from sustainable sources.

6. Legal factors:

Legal elements include health and safety, equal opportunity, advertising rules, consumer rights and laws, product labeling and product safety. The country has its own rules and regulations that make it difficult for an organization to do business worldwide.