PESTEL Analysis can be an effective framework to use in Corporate Strategy Planning and for identifying the pros and cons of a Business Strategy . The PESTEL framework is an extension of the PEST strategic framework, PEST Analysis PEST Analysis is a strategy framework to evaluate the external environment of a business.
The PESTEL framework is an extension of the PEST strategic framework, PEST Analysis PEST Analysis is a strategy framework to evaluate the external environment of a business. It focuses on Political, Economic, Social, Technological factors one that includes additional assessment of the Environmental and Legal factors that can impact a business.
Social Factors in the PESTEL Framework. Social factors assess the mentality of individuals or consumers in a given market. These are also known as demographic factors. Social indicators like exchange rates, GDP, and inflation are critical to management. They can tell when it is a good time to borrow.