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A PESTLE analysis is mainly involved with studying all the external factors that can directly or indirectly impact future long, medium or short term strategies. Its an acronym that stands for  POLITICAL, ECONOMICAL, SOCIAL, TECHNOLOGICAL, LEGAL AND ENVIRONMENTAL. These are all mainly external factors.

The results of a PESTLE analysis are used to inform the SWOT analysis which in turn identifies the factors which may emerge or impact the strategy.

 

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Translate into tasks for the project plan Strengths Weaknesses
Opportunities How do i use these strengths to take advantage of these opportunities? How do i overcome the weaknesses that prevent me taking advantage of these opportunities ?
Threats How do i use my strengths to reduce the likelihood and impact of these threats? How do i overcome the weaknesses that will make threats a reality?

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The below 8 steps give you an overall view of the general actions that should be followed when putting together any strategic plan. 1. Getting prepared.Decide on the team who will be involved in the ...

2012-08-21 06:07:32

What is a SWOT analysis ?

SWOT analysis is a very common and useful strategic planning tool. It is simply an acronym for Strengths, Weaknesses, Opportunities and Threats. Its an exercise often used by the team tasked with ...

2012-08-22 13:54:23

What is PESTLE analysis ?

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Assessing your mission statement

A mission statement is a statement of the company’s purpose or its fundamental reason for existing. The statement spotlights what business a company is presently in and the customer needs it’s ...

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Evaluating your organizational values

Values are enduring, passionate, and distinctive core beliefs. They’re guiding principles that never change. Values are why you do what you do and what you stand for. Values are deeply held ...

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Visioning : Forming a strategic vision

Forming a strategic vision should provide long-term direction, delineate what kind of enterprise the company is trying to become, and infuse the organization with a sense of purposeful action. Vision ...

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Strategic Planning and Thinking

What is a strategic plan?A strategic plan is the formal roadmap that describes how a company executes its long term  strategy. A plan outlines where an organization is going over the ...

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Visioning & Alignment

What is strategy? Strategy means consciously choosing to be clear about your company’s direction in relation to what’s happening in the dynamic environment. With this knowledge, you’re in a much ...

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