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To commence with, PESTEL analysis is a crucial topic for MBA students. So, it is important for them to understand what are the internal and external environmental factors related to a particular organization. It is also essential for the learner to understand the different structure of the organization.
Also, the student must be familiar with the organizational terms and related internal factors including culture, employees, employer, shareholders.
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PESTEL stands for- P – Political; E – Economic; S – Social; T – Technological; E – Environmental; & L – Legal Factors.
All the factors that comprise of pastel analysis are important to be taken into consideration because they directly influence the organization. All the above-mentioned details regarding pastel analysis state that it is a vast topic and someone who is not having full-fledged knowledge of all the factors cannot make a proper assignment on it.
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