After our group presentation about Airlines PESTLE/PESTEL analysis, other groups presented their PESTLE/PESTEL analysis in the field of Music, Telecom and Healthcare. There were parts on which each group fails to discuss other elements. We provide ideas which are broader than to be specific with the current issues.
So we had given an exercise about our lesson learned on “What went wrong?”, “What went right”, “What not to practice?” and “What to practice?” in doing this kind of PESTLE/PESTEL analysis. You may view our group answers on this link,
We plan to revise our group created but since this will take another time to discuss, we just answer the exercise given to us. Each different industries being tackled in class gave me an idea what are the happenings and new issues occurred on our local sectors. Doing this kind of PESTLE/PESTEL analysis will also help you create opportunities might be in business and research studies. Also you will learn and know the threats that may occur and help you aware with the situation happen in the environment.
I learned that the reasons why organization are using this kind of strategy (PESTLE/PESTEL) is because this tool offers broad and effective analysis of key areas of a strategic plan. Businesses can better compete by using this tool to assess opportunities and threats might be from starting a business, reassessment, sustainable advantages and avoid major mistakes.