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Business Envirnment Ans Pestle Analysis

671 words - 3 pages

Environmental scanning
Environmental scanning is one component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. Environmental scanning refers to the macro environment.The global environment refers to the macro environment which comprises industries, markets, companies, clients and competitors. Consequently, there exist corresponding analyses on the micro-level. Suppliers, customers and competitors representing the micro environment of a company are analyzed within the industry analysis.

Definition
Environmental scanning can be defined as ‘the study and interpretation of the ...view middle of the document...

These factors indirectly affect the organization but cannot be controlled by it. One approach could be the PEST analysis. PEST stands for political, economic, social and technological. Two more factors, the environmental and legal factor, are defined within the PESTEL analysis (or).
The segmentation of the macro environment according to the six presented factors of the PESTEL analysis is the starting point of the global environmental analysis.
PESTEL analysis
The six environmental factors of the PESTEL analysis are the following:
Political factors
• Taxation Policy
• Trade regulations
• Governmental stability
• Unemployment Policy etc.
Economical factors
• Inflation rate
• Growth in spending power
• Rate of people in a pensionable age etc.
Technological factors
• Technological changes
• New or improved distribution channels
• Improved communication and knowledge transfer etc.
Environmental factors
• Laws on
• Waste disposal
• Energy consumption
• Pollution monitoring etc.
Legal factors
• Unemployment law
• Health and safety
• Product safety
• Advertising regulations
• Product labelling etc.
Ecology
• affects customer's buying habits.
• affect the firm production process.
Socio-cultural
• age distribution.
• education levels.
• income level.
• consumerism.
...

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