Abstract
“The environment is what gives organizations their means of survival. It creates opportunities and it presents threats. The future can never be predicted perfectly, it is clearly important that entrepreneur and manager try to analyze their environments as carefully as they can in order to anticipate and – if possible – influence environmental change.”
The PESTEL framework categorizes environmental influences into six main types: Political, economic, social, technological, environmental and legal. Thus PESTEL provides a comprehensive list of influences on the possible success or failure of particular strategies. The purpose of this tool is the analysis of the key drivers for change; they are the environmental factors which have a high impact on the success of failure of strategy.
