The Use PESTLE Tool in the Organization

The Use PESTLE Tool in the Organization
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The PESTLE Tool
PESTLE stands for Political, Economic, Social, Technological, Legal, and Environmental Factors. This tool can be used to analyze the factors that impact the processes within an organization, and it provides information that is important in the development of a business. Specifically, the political factors pertain to the information about tariffs, taxes, policies, and political conflicts. The economic factors tackle the interest, foreign exchange, and unemployment rates, among others. The social aspect investigates the events within the community, including the interaction of the people. The technological aspect refers to the innovations and the licensing of the new technologies. The legal factors encompass laws that protect all the stakeholders. Lastly, the environmental aspects consider the business’s geographical location, including factors affecting climate change that may impact the business (The University of Sydney, 2022).
Use of PESTLE Tool in the Organization
The organization is a small start-up business. Specifically, it is a newly established supermarket around a small locality. The PESTLE tool is helpful in the analysis of the factors that may increase or decrease the demand for the product...