Pestel analysis of information technology industry

PESTEL analysis is usually performed by Busines Analysts, System Analysts, or Functional Analysts.

Planning how to handle the risks posed by the dynamic external factors.

Strategizing how to exploit the current and future external factors to use it to maximum advantage.

Identify the significant external factors that may affect the organization in the future.

Determine the ‘current’ major external factors that are impacting an organization.

To aid understanding, take note of the high-level objectives to conduct PESTEL analysis:

P for Political, E for Economic, S for Social, T for Technological, E for Environmental, and L for Legal. ‘PESTEL’ in PESTEL analysis stands for ‘six external factors’ that play a significant role in defining/changing the dynamics for a specific market: PESTEL analysis (or PEST analysis) is a framework that helps organizations/businesses to analyze the impact of ‘external’ factors on their resources, capabilities, and core competencies. Right off the bat, let’s take a look at the PESTEL analysis definition: This article helps you understand what PESTEL analysis is and why it is essential when to use PESTEL analysis, along with taking a closer look at PESTEL analysis examples and best practices. By carefully analyzing the PESTEL factors, organizations can alter their market strategies accordingly and enhance their chances of success while entering a new market or releasing a new product. PESTEL analysis provides organizations with the hawk’s eye view of the stimulus and scenarios surrounding their business trade and operations. Every market, business, and organization is impacted (positively and negatively) by multiple factors, and to study the impacts of such factors, PESTEL Analysis (or PEST analysis) is used.

Pestel analysis of information technology industry