“A PESTEL Analysis (formerly known as PEST Analysis) is a framework or tool that is used by marketers worldwide to analyze as well as monitor the various macro-environmental or external marketing forces that have a reflective impact on any business organization.” The PESTEL analysis is a tool best advised for start-up ventures’ and when entering into a foreign market. If you are in this line of work, you might have heard about two other business analytical tools, namely the SWOT Analysis and Porter’s Five Forces. These three tools are often used in collaboration with each other to understand the internal and external forces guiding an organization. It is sometimes also called PESTEL.
