A PESTEL analysis (earlier known as PEST analysis) is a structure or tool used to examine and screen the macro-environmental factors that may profoundly affect the performance of an association. This tool is particularly valuable when starting a new business or entering a global market.
It is frequently utilized in a joint effort with other systematic business tools, for example, the SWOT analysis and Porter's Five Forces to provide a clear understanding of a circumstance and related factors. PESTEL is an abbreviation that represents Political, Social, Economic, Technological, Legal -and Environmental components.
In any case, during the time individuals have extended the system with components, for example, Intercultural, Demographics, Ethical and Ecological bringing about variations, for example, DESTEP, STEEPLED, and SLEPIT.