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Question: Reflect upon how the PESTEL tool could be used within an organization. What benefit could you see for its use within an organization? How would it affect strategic planning? What world events might impact the PESTEL?
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The paper determined the utilization of PESTEL tool within an organization, where it has been evaluated that the tool is used by business organizations to analyze the external factors which may create an impact on the business operations. Furthermore, it has been observed that the tool proves to be helpful for an organization in enhancing the development of strategic and external thinking. It also helps in identifying future business threats and taking appropriate actions to overcome such threats. Moreover, the paper demonstrated that some of the world events such as globalization, importing, government regulations, competition as well as cost may create a huge impact on PESTEL.
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