Evaluate Your Business Environment

The PESTEL tool allows you to evaluate the environment in which your business is evolving. By examining each of the factors indicated by the tool, you can identify current as well as future opportunities and threats in the global environment in which the business is rooted. PESTEL is an acronym in which each letter stands for a specific factor in the overall context that you should consider closely (see the schema below). You should note, however, that depending on the business, the factors may not all have the same importance.