Pestle Analysis Is A Management Tool - 1890 Words

P2E2STLE ANALYSIS: According to the Cambridge Dictionaries, PESTLE analysis is a management tool that analyzes the effects of any challenges as well as strategies for the business but deals with outside factors. This tools only used by the macro environment of which it doesn’t have any full control but rather influences the challenges. Another definition for PESTLE according to the Business Studies Grade 12: a PESTLE analysis is a tool used to evaluate the macro environment to see potential threats to the business or opportunities to strengthen the competitive advantage. Each letter of the P2E2STLE stands for: Political, Physical, Ethical, Economic, Social, Technology, Legislation and Environmental. POLITICAL FACTORS: Political factors are the external constrain on businesses (these influences are from the outside organisation in control) some political factors are from the government activities. (pestlranalysis.com) CHALLANGES: ïÆ'Ëœ According to Mr Price fashion blog â€Å"In the Loop’ Mr Price has over 100 000 customers purchase their items daily both online and visiting the various Mr Price clothing branches. This indicates that they have more and more consumers that purchase from them regularly because of their affordable prices and always up to date with the latest fashion trends. It is well known that this clothing store imports all stock and merchandise from China (south Africa-china textile quotas: recent developments and trade prospects) and they are still supportedShow MoreRelatedSwot and Pestle1359 Words   |  6 PagesSWOT PESTLE Analysis SWOT and Pestle analysis is a strategic analysis tool that feeds important information into the business strategy formulation process. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. SWOT is used to determine the current position of an organization. The first two components pertain to internal factors and the latter two concern external issues. Pestle (or PEST) is an acronym for Political, Economic, Social, Technical, Legal and Environmental analysis. PestleRead MoreThe Modern Day Industry : The Changing Nature Of Consumerism1742 Words   |  7 PagesIn order for HR to present relevant data they must have a clear understanding of the organisational plan and senior management must provide some insight as to what information they need. The CIPD suggest that there are 7 stages to developing strategy, including: †¢ Defining business strategy – working with the business to formulate strategy †¢ Analyse context – PESTLE/SWOT analysis †¢ Identify business needs Within our organisation HR is currently working towards to becoming more strategic and areRead MoreBusiness Success For A Business1204 Words   |  5 Pagessuccess, they must prepare for the future challenges. Problem solving and decision-making are essential to this success as well. Using tools such as business analysis can be quite beneficial in identifying the business needs, identifying possible weaknesses and providing the basis for solving problems and making the right decisions. In addition, analytical tools are helpful in providing the basis for a competitive advantage of a given organization. However, as stated earlier, today’s economy is aRead MoreStrategic Modules Used For The Case Study1524 Words   |  7 Pagespart of their strategic direction involved beating their direct competitors to the market, by reducing production to release time. Most of the case study s approach to strategy included a Green initiative, customer-oriented design, supply chain management, minimal advertising and accelerated growth. Related Diversification was identified during the research as a strategic model used in the previous five years that ensured success. 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All Rights Reserved ISBN 978-1-62620-998-5 The material contained within this electronic publication is protected under International and Federal Copyright Laws and treaties, and as such any unauthorized reprint or use of this material is strictly prohibited. You may not copy, forward, or transfer this publication or any part of itRead MoreMicro And Macro Environment Of The Company1590 Words   |  7 PagesProject Management Introduction There are many different types of analysis a company should look at when considering a new project, the more you look into the business environment for your company the better equipped you will be to bring forward a project that will be successful, in this section we’ll be looking at the micro and macro environment of the company through pestle and porters five forces. 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