PEST, PESTLE, STEEPLE?

PEST/LE Analysis

John Saint Walker talks us through additional analysis methods. The following methods combined with a SWOT analysis should equip me with all the answers to the questions people may have...

[Elements of a PESTLE Analysis]

POLITICAL

Stability of Government Potential changes to legislation Global Influences

- What does the law say?

- Who do I need to ask permissions from?

- What are the rules on working hours?

- I'm planning to use hidden cameras... what does the law say?

ECONOMIC

Economic growth

Employment Rates

Inflation rates

Monetary policy

Consumer confidence

- Who will fund this? Why?

- Are there any fines/fees involved?

- What's the impact on my budget if politicians/bureaucrats stall the project?

SOCIAL

Income distribution

Demographic influences

Lifestyle changes

- How will I get people to trust? Do I need a translator?

- Who do I need to talk to first?

- What can I do to speak to politicians/stakeholders?

- What's the ethics of using hidden cameras?

TECHNOLOGICAL

International influences

Changes in information technology

Take-up rates

- I need lightweight camera gear

- I need hidden lapel cameras

- How many cars do I need? Hire or get taxis?

LEGAL

Tax policies

Employment laws

Industry regulations

Health and safety regulations

ENVIRONMENTAL

Regulations and restrictions

Customer attitudes

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Reflection Segment

"I need to test this next week. Once I have a little bit of the creative aspects of the business to show, I would like to do a quick presentation to prompt these difficult questions. This would hopefully test aspects of the business that I currently have no idea how to respond to. Most likely, I will spend the following weekend conducting this research for NVRT. If this analysis method is anything like the previous content by Saint, I know I'll be referring to it constantly over the next few weeks (into the December pitch)."

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Citations

2022.The PESTLE business analysis technique.[image] Available at:<https://www.knowledgetrain.co.uk/business-analysis/business-analyst-course/business-analysis-technique-pestle>[Accessed 3 January 2022].

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