PESTLE CHECKLIST

Here are all six factors of PESTLE Analysis in brief.

Political

Mainly the government and its policies play a very important role in a
company's progress. Many countries, such as Sweden, have a lot of benefits
provided to the nation's organizations. Various policies have been
implemented in the industries for future growth. The loan facilities by the
national banks, relaxation in the taxation processes, crowdfunding, etc. help
the industry grow and flourish. The political environment of a country has a
great impact on any company's business growth, and a business cannot
enhance without the support of governmental benefits. So, this is the "P" of
PESTLE Analysis.

Economical

The economic environment your brand fits into can be assessed on a

nationwide or demographic-specific level. For example, your brand may
position itself with aesthetics that make it appeal to younger demographics,
but are your products priced appropriately with that audience’s expected level
of disposable income? These considerations can lead you to consider lowering
your prices or offering a low-cost alternative to your main product/service
(such as a ‘Basic’ or ‘Starter’ subscription plan, with other labeled ‘Premium’).

The economic conditions of a country suggest what business can be

established there. Even there can be different economic infrastructures in one
country between different states/regions. The economy of a region depends
on the following factors:

GDP

Exchange Rate

Inflation Rate

Unemployment Rate

Globalization

So, as you can see that each of these factors are inter-related or linked to each
other. To know more about one country's economic situations in detail, you
need to know about the country's historical, geographical, demographic, and
industrial existence. So, all these factors together determine the economic
health of a nation.

Social
The PESTLE Analysis is also helpful in calculating the sociocultural values of
an organization and determines what sort of products are in demand in terms
of the current industry standards. Factors that impact the socio-cultural
environment of an organization are mentioned below.

The Consumer Behavior/Likings

Age Profile

Population's Growth Rate

Religious Belief

Social Attitudes

All these are important factors that determine a company's socio-cultural

values and possibilities of success.

Technological

When the company launches a product, the marketers also must check
whether the product will have a match with the current technology, or will lag
behind the generation's needs. The product has to fulfill the current industry
standards and meet all the current technological requirements. A PESTLE
Analysis tool will accurately assess all these in detail and show the results by
seeing which issues can be found and need to be improved.

Technological changes can have a profound impact on companies. To sustain

growth in the market, a company needs to keep upgrading its technology as
well. A thorough knowledge about current technology and the market trend is
highly required for the growth of any business.

Legal

It is the most fundamental aspect that determines the success and

establishment of a business or brand. The government body tactfully controls
the legal policies such as trade license, business registration, loan eligibility,
foreign trade license, investment and funding policies, business share, and
expansion policies. All these factors are directly related to any organization's
growth and prosperity. The more a government supports them legally, the
more they flourish. Through a detailed PESTLE Analysis, all these factors can
easily be measured and taken care of.

Environmental

The sustainability of a business and the success of a company also depends

upon environmental situations. For example, the value of any product/service
is decided due to the scarcity of raw materials, pollution targets, carbon
dismission, etc. Furthermore, people are gradually aware of the potential
impacts of climate change and know more about how it will affect the
environment. So, it has influenced how companies operate and the products
they offer.