External Environment Analysis - PESTEL

Feb 3rd, 2012
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Austin Business College
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A detailed paper on explaining External Environment Analysis - PESTEL. It also include details on every point of PESTEL. You may use it as your study guide.

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External Environment AnalysisName:Institution:The External Environment Any business is largely influenced by the environment it operates in i.e. internal or external environments. While businesses have complete control over its internal environment (skills and competencies), it has no direct influence over its external environment. The external environment can be divided into the Broad and Task environments. Despite a company's inability to fully control both external environments, it has the ability to protect itself against threats and take advantage of any opportunity that presents itself. Aldai Inc. is therefore placed in a prime position to analyze its environment and come up with a strategic plan that maximizes its unique skills and competencies thus taking advantage of opportunities and limiting threats. The analysis of the external environment is essential as it not only helps with improving the business strategy but it also helps fight competition. This analysis helps an organization identify how to gain competitive advantage over its competition. A. The Broad EnvironmentThe broad environment is a part of the external environment that Aldali Inc. has no influence over despite its significant influence on the company. The Broad environment can be summarized by the PESTEL analogy i.e. Political, Economic, Social, Technological, Environmental, and Legal factors. As a herbal cosmetics producer, Aldali Inc. has a chance to analyze how each of

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