Pestel Flashcards
What are the 6 sections of pestel
Political
Economic
Social
Technological
Ecological
Legal
What are political factors
It is how the state effects business
Macro-micro dimension = macro refers to political risks associated with whole countries micro refers to risk of Particular organisations or sectors
Internal - external dimensions = internal are factors occurring within the country , external refers to the knock on effect of events occurring outside particular countries boundaries
Example of political factors ?
Police’s to reduce unemployment
Business tax’s
Minimum wage
Education and training
What are example of social factors
Demographics = ageing population in many western society’s which creates opportunities and threats for public and private sectors increasing supply for services for the elderly but decreasing supplies of young labour
Distribution = changes in Wealth distribution influences the relative size of markets.
Geography = industries and markets may be concentrated in particular locations
Culture = changing culture, attitudes towards work etc matters
Economic factors and examples
Economic factors can be
Currency rates
Inflation
Disposable income
Total gdp per head
Energy costs
Technological factors
Research and development budgets
Citation analysis
New product announcements
Media coverage
Ecological factors
Types of challenges
Direct pollution obligations
Sustainable development
Legal factors
Health and safety - health and saftey at work act 1974
Employment protection
Sex discrimination act 1975
