PEST analysis describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. In marketing, before any kind of strategy or tactical plan can be implemented, it is fundamental to conduct a situational analysis. Furthermore, the PESTEL forms part of that and should be repeated at regular stages (6 monthly minimum) to identify changes in the macro-environment. When performing PESTLE analysis, pinpoint your reason first, whether to flesh out a business idea or to understand your target audience more thoroughly. Without reason, PESTLE analysis may provide underwhelming results. Use EdrawMax Online to create a PESTLE Analysis diagram for your organization. This free PESTLE maker offers over 26,000 symbols that let you have a better team collaboration.
