Скачать или смотреть Pestel analysis of a company II Analysis of the company's external environment

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The PESTEL analysis got its name from these macro factors. These factors include Political, Economic, Social, Technological, Environmental, and Legal factors. Now let's analyze these factors in more depth and get more information about the PESTEL analysis:
The political factor gives you information about the governing rules, political stability, outlook on foreign trade and tax system of the country where you want to set up your business. Obviously, to do business in any country, you must obey the laws of that country. Furthermore, starting a business activity in an environment without political stability, for example in a country like Syria, may not be a logical choice. As a result, you can analyze political factors and be aware of such situations in advance and act according to the information you have.
The second factor is the economic factor. By analyzing this factor, you can get information about the country's economic development, inflation rate, loan interest rates and the average income of buyers. Based on the information you get, you can estimate whether it will be profitable to enter that market. On the other hand, you can set a price for your product taking into account the income of the population.
The social factor gives us some information about the growth rate of the population, age groups, income groups, lifestyles, and cultures. Of course, these indicate how suitable your product is for sale in that region. For example, the marketed product may be contrary to the views and culture of the local people. Or a product belonging to a lower age group can be marketed in a region where the average age is higher. In these situations, that product will fail. In order to avoid such situations, it is important to consider social factors.
Another factor is technology. This includes the level of technological innovation, automation, technology innovations, etc. In the simplest terms, by paying attention to this factor, you may have made a smart move for your business by not spending money on technological tools or the production of those tools that will soon become obsolete.

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