In this introduction to PESTEL analysis, we’ll break down what a PESTEL analysis is, how and when to use it, and how it compares to another common business analysis tool-the SWOT analysis. By assessing the different external forces that can impact your business, you can better plan your business strategies, mitigate risks, and prepare for the future. So how do you get this valuable context? Enter the PESTEL analysis.Ī PESTEL analysis (or PESTLE analysis), is a way for businesses to understand the external factors that could affect the business. Without this foundational context, you’re essentially leading in the dark-and leaving your business open to risk and costly surprises. They understand the context of the market environment, and how those external factors can impact their strategic plans. Successful businesses don’t operate in a vacuum.
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