Life[ edit ] Petel was born in Weilheim, Bavaria, about forty kilometres south-west of Munichthe son of Clement Petle or Betle -alternative spellingsa cabinetmaker. He grew up an orphan as both his parents died when he was a small child. Petel learned ivory carving in the court cabinet-making studio of Christoph Angermair in Munich.
The tool allows the assessing of the current environment and potential changes. The idea is, if the project is better placed than its competitors, it would be able to respond to changes more effectively. The PESTLE Analysis tool can be used for business planningstrategic planning, marketing planningproduct development, and organizational planning.
These factors are better explained in the next section. Every project has both internal politics and external politics. The internal politics like team Petel anylysis, cohesive projects, and personal interests occur in all projects and must be considered and managed by stakeholders. The external Petel anylysis refer to those which the stakeholders do not control.
These events include all political events like employment laws, tax policies, trade restrictions, trade reforms, environmental regulations, political stability, tariffs, etc.
This factor takes into consideration all events that affect the internal and external economic environment. The internal or micro-economic events relate to the project viability and internal soundness of the project.
Financial models and accounting techniques need to be used during the evaluation phase to ensue viability of the project. The external or macro-economic events include interstate taxes, embargoes, interest rates, economic growth, recession, inflation rate, exchange rate, minimum wage, wage rates, unemployment, cost of living, working hours, credit availability, financing availability, etc.
The sociological factor takes into consideration all events that affect the market and community socially. Thus, the advantages and disadvantages to the people of the area in which the project is taking place also need to be considered.
These events include cultural expectations, norms, population dynamics, healthy consciousness, career altitudes, global warming, etc. This factor takes into consideration all events that affect technology. Since technology often becomes outdated within a few months after it is launched, it is important to consider this.
This factor could also take into consideration all barriers to entry in certain markets and changes to financial decisions. This factor takes into consideration all legal aspects like employment, quotas, taxation, resources, imports and exports, etc.
This factor takes into consideration ecological and environmental aspects that could be either economic or social in nature. These include temperature, monsoons, natural calamities, access by rail, air, and road, ground conditions, ground contamination, nearby water sources, and so forth.
The tool is simple and easy to understand and use. The tool helps understand the business environment better. The tool encourages the development of strategic thinking. The tool helps reduce the effect of future business threats.
The tool enables projects to spot new opportunities and exploit them effectively. The tool allows users to over-simplify the data that is used. It is easily possible to miss important data. The tool needs to be updated regularly to be effective.
The tool is most effective when users come from different perspectives and departments. The tool requires users to have access to data sources which could be time consuming and expensive. Much of the data used by the tool is on an assumption basis.
The business environment is changing drastically. Thus, it is becoming increasingly difficult for projects to anticipate developments. Identify the implications of each event noted in the analysis for the project. It is important to assess their impact over time, by type, and by dynamics.
All events need to be classified by their importance or criticality. For example, a project manager could classify them under very very important, very important, important, significant, and insignificant.Chad Boeninger -- "The purpose of this guide is to list resources to use when performing a P.E.S.T.
Analysis. Many of the resources will be listed several times for each section of the P.E.S.T. Analysis. PEST Analysis is a simple and widely used tool that helps you analyze the Political, Economic, Socio-Cultural, and Technological changes in your business environment. This helps you understand the "big picture" forces of change that you're exposed to, and, from this, take advantage of the opportunities that they present.
PEST analysis is an analysis of the political, economic, social and technological factors in the external environment of an organization, which can .
Definition of PESTLE Analysis. The PESTLE (or PESTEL) Analysis is a tool that is used to identify and analyze the key drivers of change in the strategic or business environment. The abbreviation stands for Political, Economic, Social, Technological, Legal, and Environmental factors.
The tool allows the assessing of the current environment and potential changes. A PESTLE analysis is a framework to analyse the key factors influencing an organisation from the outside.
HR practitioners and senior managers can use the results of this analysis . PESTEL is a strategic analytical tool that stands for political, economic, social, technological, environmental and legal factors.
Hilton Hotels PESTEL analysis involves the analysis of potential effect of these factors on Hilton’s revenues and its long-term growth prospects. The following is a.