Explore the six PESTEL external factors: political, economic, sociocultural, technological, ecological, and legal.
Choose one industry (automotive, hospitality, manufacturing, high tech, etc.) and discuss the following with your peers:
Examine one of the six PESTEL factors in relation to your chosen industry. In your opinion, why do you believe this PESTEL factor is the most important to your chosen industry?
Describe one advantage and disadvantage of the PESTEL analysis for strategic planning.
If you were a manager in a global organization, how would you use the technological factor of innovation to gain a competitive advantage?
Reference
de Bruin, L. (2016, September 18). Scanning the environment: PESTEL analysis. Business-to-you. https://www.business-to-you.com/scanning-the-environment-pestel-analysis/