Question

1.) Outline and detail a PESTEL analysis. What, in your opinion, is currently the strongest component of the macro-environment? Why? How has this changed?

Your answers will be short essays and should be three full paragraphs or longer.

Answer 1

PESTEL analysis is that part of marketing that helps the organization to monitor the macro-environment factors going on in the organization. It helps to figure out the threats and weaknesses of the organization and helps the employees to know about the threats and start working on it. It helps to figure out macro factors of environment such as political, technology, social, economic, environmental, legal, etc. Every component of macro environment is important but in my opinion, technology factor is one of the strongest factors in current date as we know technology has become a part of our life and it is developing day by day and if you want to compete your competitors then you need to be on number one. Moreover, with the help of technology, you can provide great relief to the people around the world. It will make an easy life for people as technology is growing at a great pace and it will soon take over human places too in the field of work or it will make the work easy for them.