The goal of this exercise is to uncover the Political, Economic, Social, Technological, Legal, and Environmental forces surrounding your organization. So that you can keep an internal true north with your next big idea while all these external factors come to play. This is a process that your team should continually evaluate and optimize.
- Click and fill in your PESTLE factors. Brainstorm freely.
- Collaborate with your stakeholders, this is a live document.
- Reference your findings to create a SWOT analysis.
- Reference these strategic docs when defining and implementing your business model.
- Repeat.
(Delete this section whenever you're ready to share)
Politics
How does the government influence the economy or your industry in particular?
Political factors may include tax policies, tariffs, trade restrictions, corruption, funding grants, etc.
Economics
How does the economic landscape directly impact your company? What are the long-term effects?
Economic factors could include inflation rate, interest rates, economic growth patterns, labor costs, unemployment rates, etc.
Social
What's going on culturally? How is this affecting your ideal consumer?
Describe the social environment of your market. Look at cultural trends, demographics, attitudes, and beliefs, lifestyle trends, etc.
Technology
What technological advancements are affecting operations in your industry?
Technological factors refer to automation, research and development, and the amount of innovation going on in the market.
25% Factor #1
40% Factor #2
35% Factor #3
Legal
Are there certain laws that affect your organization's business environment? Any internal laws or legal policies?
Take into account both governmental and internal legal factors: consumer laws, safety standards, tax and discrimination laws, etc.
Environmental
How does your immediate environment impact your industry and operations?
Outline your geographical location, climate, your carbon footprint, environmental regulations, pollution laws, recycling policies, etc.