Pestle Swot Analysis

Strategic Planning Concepts SWOT/PESTLE There are many strategic planning concepts available to businesses and organizations. Businesses and organizations must identify which concept or combination of concepts that meet their needs. The type of business or organization and their objectives may impact the strategic planning concept chosen. This paper discusses SWOT and PESTLE strategic planning concepts and their usefulness for organizations. SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis provides a format for identifying and exploring both internal and external factors associated or impactful to an organization. “This method was created in the 1960’s by Edmund P. Learned, C. Roland Christensen, Kenneth …show more content…
PESTLE stand for Political, Economic, Social, Technological, Legal and Environmental. “The earliest known reference to the tools and techniques for ‘Scanning the Business Environment’ appears to be by Francis J. Aguilar (1967) who discusses ‘ETPS – a mnemonic for the four sectors of his taxonomy of the environment: Economic, Technical, Political, and Social” (Morison, 2012). Political is legislation, laws, and regulations that affect an organization. Economic is monies, interest rates, fees and other financial factors. Social is media, customer trends and public factors affecting the organization. Technological is technology resources, innovations and other research ideas. Legal is a narrow look at possible legislation coming forward, along with already passed legislation that can affect the organization. Environmental issues are factors relating to the political or social climate. “Unlike SWOT this strategy is more directly aimed at the external macro environmental factors that might be affecting the position of your business, the reason behind growth or decline in the market and also identify new directions for the business as a whole” (SWOT analysis vs PEST analysis and when to use them,