External Analysis: PESTEL Framework | Strategic Management

[@ashley_nguyen03]

I hadn’t heard of a PESTEL analysis till this video. I learned that pestel analysis is an acronym for Political, economic, social, technological, environmental, and legal. This educated me on each part of the PESTEL and how it affects firms. I learned that firms apply non-market strategies through lobbying, public relations, contributions, litigation and more which are part of the Political factors, which I had no idea had impact in firms until now.

[@carlosguerrero7794]

Knowing that I will be using the PESTEL Framework at work whenever there is an advancement made me very happy to learn about it. When I eventually manage or own your company, I think this will help me in my future career.

[@IsaacPenney9]

This video truly helped me to understand the importance and depth of the PESTEL Framework. Going over each section of the framework individually and allocating time based on the significance of the section advanced my understanding on the topic. The PESTEL Framework seems to be one of the foremost ways to analyze the external factors that affect a business.

[@turnerprewitt4282]

What I find interesting about this video is how it breaks down many important factors to consider when doing international business. The PESTEL framework is great guide when considering an option to do internal business for reviewing its external qualities because it segments the factors into neat groups for individual review. When analyzing a country's external qualities without PESTEL, it can become overwhelming since many of the mentioned segments are directly related, which I why I find the PESTEL framework so interesting and useful.

[@lillianspeicher]

This video was super insightful for me on how complex being a manager is and what all goes into a firm's performance. Bringing a new product into the market is one of the hardest things a business can do, and market analysis is super important to project what could happen with the product and when the right time would be to present it.

[@blakelabuda7198]

After watching this video, I had a much better understanding about the political, economic, socio-cultural, technological, environmental, and legal factors that go into the PESTEL framework of strategic management. I highly recommend this video for all who want to learn about this topic.

[@DayBreaker_365]

This video shows just how incredibly difficult and complex bringing a new product to market can really be. PESTEL framework shows just how much analysis it takes in order to be prepared to bring a new product to market. While using PESTEL Analysis can make your business more likely to succeed, it isn't a guarantee. Thank you for this in depth video.

[@kenyaflores6079]

This video gave me so much knowledge and information about the PESTEL Framework. PESTEL stands for Political, Economic, Social, Technological, Environmental, Legal. This is helpful for when starting a new business, it is helpful for a business to run this analysis at least every six months and if need to do changes do so.

[@everythingjulia1172]

I have never heard of PESTEL before this video. This video was very simplistic on explaining how the macro-environmental factors impact the markets and companies around us.

[@irielamontoya4376]

I was so glad to learn about the PESTEL Framework because I know that I will be utilizing this at work when there is an advancement. Basically, this focuses on long term changes in a company’s external environment and PESTEL stands for Political, Economic, Social, Technological, Environmental and Legal factors. All these are important for managers of a firm to conduct external analysis.

[@brianshine6151]

This video described the challenges of managing a business. Every day, the world changes, and we have to adjust. The video was fascinating and did a great job of illustrating the significance of the PESTEL framework.

[@isabellewandres6915]

This video helped me gain a better understanding of the PESTEL Framework. I believe this will help me in my future career because when I eventually become a manager, I will now have a better understanding on why it is so important to run a PESTEL analysis at least every six months in order to help keep my strategies both fluid and current.

[@landonchaney6134]

PESTEL framework is very important to understand because it is very difficult to get a new product into the market. This video does an excellent job of explaining it and breaking it down to make it easier to understand.

[@michellesaldana9500]

This video was very informative. I have never heard about PASTEL framework, but learned the importance of it. It is very important that was happening in the business internally also follows and respects what is happening outside. Specially now with technology, a business needs to make more adjustments, so they can be successful. There will always be competitors, so you need to be the best at what you do.

[@pakorasonia432]

I enjoy this video because it helps me understand the different factors you need to know before entering an international business. I learned that a firm success is inevitably influenced by its external environment. The video explains how the system works in the Business world; how customers behave according to the country's economy. I also learned that a PESTEL can be crucial in analyzing and monitoring macro-environmental factors.

[@laurengardner9749]

It makes sense that different external factors determine how well a product will do. I wasn't familiar with PESTEL framework, but after watching the video it confirms that there are more factors than just the product itself to determine its success.

[@hayden7581]

I was unaware how much the external environment affected a new business coming into the market. The PESTEL analysis does a great job in outlining what is needed to know when entering the market.

[@dane_adams1]

This video was very insightful to the functionality of the PESTEL Framework. This analysis seems to be very integral for a corporation, and has macroeconomic and social issues within the basis of its framework. I never thought of these factors being used together when reviewing internal and external attributes of a business model.

[@isaccsaucedo7583]

what i gather and from what i see from day to day life is that everthing has a motive to its action . So when business are bulding up their product there must be able to fullfill people motive . i saw i comment stating that you cant add a product to the market because of what this video showcase but also you must fulfill a motive to have your product grabbed from the market .

[@adammckinney7029]

This video explained how difficult it can be to run a business. The world is changing every day and we must adapt. The video was great at explaining how PESTEL framework is important and was very interesting.

[@lovisahevinder3569]

This video was a very good indicator of how hard it is and how much work you need to put in for a new product. PESTL creates great guidelines for what to consider when creating a new product. It was also interesting to understand how many other factors decide if the product will be successful or not.

[@cheyennepage5349]

I didn't know anything about PESTEL until now. This is interesting because it deals with real companies.

[@colemancannon3518]

Sometimes we take for granted how difficult and how many factors go into bringing a new product into a market. I have learned a lot this semester from international business and international marketing that you cant just throw a product into a new market. These factors are fascinating and really demonstrate the complexity of what it's really like to introduce a product or service.

[@kmeyer-ds9uo]

This was the first time I have heard of PESTEL analysis, I read about it in the book but did not get a good hold on the topic. The graphics and explanations throughout the video helped me understand how it is put in action.

[@haydencollins1970]

I found this video very informative. I like how you talked about companies finding ways to make money. Your Microsoft example in India was a fantastic example of how companies will outsource to different countries to make money.

[@kristalloredo6046]

Companies have to look both inside and out when it comes to going into a new market. I new was internal factors went into their decisions but not all the external factors that also had to be considered. Social and environmental factors are both things that I forgot to consider and am glad to have been able to learn more about from this video.

[@alexonishchenko2689]

I had never heard about PESTEL analysis before. It is a great guide on what should a business consider. Also, in this video I loved the part about social cultural factors. I think it is super important to understand this statistic to build a strong business and adopt it for different territories

[@stormyshelton]

This video has been very informative, I did not know about the PESTEL analysis. I never thought about how everything that happens has a direct effect something else.

[@mindy_miller]

I enjoyed learning about the PESTEL analysis and how it has different kinds of factors that can play into the framework of it. I really did not know or understand much about the PESTEL analysis before taking this course but after watching this video and taking this course I now have a better understanding.

[@camban6675]

I believe that most people consider the PESTEL aspects whenever performing any sort of external analysis but this framework organizes it for a more detailed review. I found it insightful that technological progress brings both opportunities and threats for companies as many people hyper-fixate on one or the other instead of weighing the two sides.

[@rachellabat5856]

This video helped me to better understand the different factors of the PESTEL framework. I didn't know much about the external factors before, so I'm glad I was able to learn about that from this video.

[@ceciliagallegos1714]

The video was informative, I was able to learn more about the PESTEL framework and how companies use it to analyze and monitor the macro environmental factors that impacts a company. I was intrigued with the sociocultural and environmental factors, and seeing how companies utilize information to adapt their business to gain or keep consumers

[@marynanfincher4398]

This particular video was very informative to me regarding the PESTEL framework, specifically regarding when and why companies should run a PESTEL analysis. I found it to be interesting how often it is recommended for companies to do so (at least every six months).

[@ashlynross8102]

I had no idea what a PESTEL Framework was before watching this video. The Socio-Cultural factors seem the easiest to understand. It would not be likely that the culture of a country would change within the course of one year too much. However, political and economic factors are changing every day.

[@josiahmurray1409]

This video was very informative and helped me gain a better grasp on the PESTEL framework. Outsourcing is definitely a key way for companies to make money.

[@aliciaparedes3974]

I was familiar with these factors individually, but didn't think to put them together and therefore was unaware with the PESTEL framework. It's interesting to learn how a company can apply these external environmental factors and to do it regularly to adapt to the world's changes.

[@marshahenderson4480]

I love acronyms. Very helpful. This video helped line out nicely the macro-view of what goes into strategic management of a firm. I found the information on Pyrolysis as an environment and economic solution for firms dealing in plastics. I pray that this is made use of world-wide quickly.

[@02assasin]

🎯 Key Takeaways for quick navigation: 00:00 🌍 *External Analysis Overview* - Understanding PESTLE analysis: an assessment tool for external environmental factors impacting an organization. - Political factors: Government actions influencing firms, seen in trade wars and policy changes. - Economic factors: Growth rates, employment levels, interest rates, price stability, and currency exchange impacting business strategies. - Socio-cultural factors: Shifting societal norms and demographics affecting consumer behavior. - Technological factors: Innovations in processes, products, and services offering opportunities and threats. - Environmental factors: The interconnectedness of businesses and the natural environment, posing challenges and opportunities. - Legal factors: Outcomes of political processes reflected in laws, regulations, and court decisions influencing firm performance. 07:30 🤝 *Socio-Cultural Factors* - Socio-cultural trends and their impact on businesses: Health consciousness driving consumer preferences. - Demographic shifts: Hispanic population growth influencing marketing strategies and global population projections by 2050. - Societal changes affecting consumer behavior and market dynamics. 09:24 🚀 *Technological Factors* - Technological innovations: Impact of advancements on industries and products. - Examples of technological disruptions: From smartphones to nanotechnology, emphasizing opportunities and threats. - Relentless technological progress as a catalyst for both advantageous and challenging transformations in business. 10:38 🌱 *Environmental Factors* - Interdependent relationship between organizations and the natural environment. - Examples of negative environmental impact by businesses contrasted with opportunities for sustainability. - Circular business models and innovations like pyrolysis as solutions to environmental challenges, offering economic and environmental benefits. 12:40 ⚖️ *Legal Factors* - Legal outcomes impacting firm profitability: Laws, regulations, and court decisions. - Global political and legal pressures on tech companies: European policies influencing taxation and industry regulations. - Political and legal environments directly shaping a company's performance and strategy. Made with HARPA AI

[@karmaelwell]

Often, we underestimate the challenges and myriad elements involved in launching a new product in a market. My knowledge has significantly expanded this term through studying international business and marketing, which has highlighted that introducing a product to a fresh market isn't a simple task. These elements are intriguing and effectively showcase the intricate nature of what truly entails when debuting a product or service.

[@billvo8259]

I enjoyed this video and how in the beginning it separated PESTAL and went into detail about what each letter stood for.

[@jmanic5180]

I recently started a business with a friend of mine, so I can relate to how hard it is to get a new product into the market. The process is extremely hard and time-consuming, you have to do research on the market and your product. This semester I have learned quite a bit I didn't know and it has helped me to understand a lot more about markets and international markets.

[@annglatt6850]

This video provides a great framework for an external analysis for a firm. It was interesting to learn about the different factors that go into the framework that I didn't know about before.

[@josebarron5691]

Thank you for sharing this video. This video puts a clear picture on how one can measure how external factors affect business operations. before taking this class, I had little knowledge about these external factors, but thanks to this informative video, I am able to understand more in depth the challenges a firm faces.

[@cadehollingsworth5021]

This video was very informative I didn't know there was so many economic factors that affected business so much.

[@taylordowd2746]

I have never heard of the PESTEL framework before but it was very interesting to see the factors of the framework.

[@tristanthigpen8356]

It was interesting to go in depth as to what the PESTAL framework is and the specific factors that go into each part of it. I now understand how the framework could be used to analyze macro economic factors. I appreciated the use of specific company examples that way I can remember different examples of the PESTAL framework in the future.

[@MorrisFilmPhoto]

Thanks 4 a Great Video explaining, in more details, the PESTEL framework.

[@jakerhodes6517]

Great video, I had no clue what the PESTEL framework was before this video and it did a very good job explaining it easily.

[@danielrigsby3216]

The PESTEL frameworks was new to me, but breaking down the factors made me see the value of it. When doing business internationally, especially in the information age, managing each factor, both internally and externally is vital to success.

[@violettakhisamova1066]

When doing international business it is important to consider different factors, and now knowing about the PESTEL system it makes it a little easier for me. This system makes it easier to apply external environmental factors to your business and to track world tendencies and changes.

[@farrahanderson9295]

This external analysis, Pestel Framework, is very helpful in determining a firm's operations. I am a business major and would like to head up an operations department in the future. This framework of political, economic, social, technological, environmental, and legal factors is important to determine correct avenues of action for an operations department.

[@michaelmumba8364]

This is something I have never heard of and I found the video very interesting. PESTEL, I found the political factors to be the most familiar thing I’ve heard of and I also had an idea about that.

[@amandawhittington1015]

This video was very informative to me! I had never heard of this so it was very interesting to learn about!

[@jenniferbosco4843]

PESTEL is a great tool to analyze the different factors affecting a business. Political factors, legal factors, environmental factors, etc. I can appreciate how difficult it must be to have a successful product in today's market.

[@breannamcgowan7780]

This video was awesome as always. It's packed full of all the information I need to know about External Analysis and all the components that make it up.

[@emilycarter8922]

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[@ghostgoblin1428]

sir your chNNEL is really helpful please keep up with the good work we truly acknowledge both you and your channel.

[@BusinessSchool101]

Thank you, I will:)

[@jamessawyer2133]

Learning about the Pestel Framework is a subject that is completely new to me. However, I do see the importance of the framework and how it can help managers execute an effective external analysis.

[@lynnettesilvrants4607]

A PESTEL analysis is something new to me, but I learned quite a bit about what it looks like and all the considerations that need to happen as you consider expanding into new markets. Many details and factors need to be investigated when doing an external analysis to expand into new markets and business opportunities.

[@thisdailydude]

Great video, talked about many informative topics. I think many people would like to have things made here in the USA, but the reality of things is that people want to save as much money as possible. So many will send to china because it is cheaper. Money is a necessity and many will do what they need to do to save money.

[@snehuspatel]

PESTEL analysis’ six factors help any organization or firm to see which factor is affecting their business and what economic action they need to run their business. It has six different factors or can say categories to identify any changes to the external environment. Very first factor is Political which is result from any changes done by government in any policy that affect the firm business decision and behavior. I work at manufacturing company where some raw materials come from foreign countries and 2016 Trump Tariff cause the cost of product increase around 30% due to increase import taxes. It’s perfect example where end user ends up paying more in US due to Trump Tariff. That also force many companies to buy domestic raw material as well. In other words, political decision affect on one group negative way where they must pay taxes and paying high price but on the other hand domestic factories can bring more revenue by increasing the production due to increase of domestic product demand.

[@FaceYogaTheLifestyle]

Good stuff

[@giuliachiariello4415]

very useful! thanks

[@pastormaparura4228]

thank you good video

[@lindseycarter6141]

Great video! The PESTEL framework is neat, but I wonder if it can fully represent everything, and or there can be a new framework to be created?

[@BusinessSchool101]

I believe it covered major perspectives about firm’s external environment.

[@moscatiello]

MBA de Marketing Digital da FAAP com a Empiricus não tem igual.