![]() ![]() ![]() Brainstorm factors across the PESTEL framework. The Lucidspark PESTEL template is pre-built with six containers in which all six categories of external factors are listed. How to use the Lucidspark PESTEL template If you’re contemplating a reorganization, product offering expansion, marketing strategy overhaul, or any other significant change in the business, it’s wise to undergo a PESTEL analysis. This is where the PESTEL framework comes in. While it’s likely your organization has a vision statement and a clear understanding of where it would like to be in the future, it’s less likely that your business has analyzed current external factors that may influence getting to where it would like to be. While some may think a PESTLE analysis is primarily used for new businesses or for those hoping to enter a foreign market, it’s useful for every business to undertake a PESTLE analysis to understand the full spectrum of factors that may impact the org. Benefits of a PESTLE analysis in an organization ![]() In other words: it’s a way for organizations to look at the context in which they operate. A PESTEL analysis, most commonly referred to as a PESTLE analysis, is a way for businesses to understand external factors that could affect the business. PESTEL (sometimes also called PESTLE or PEST) is an acronym that stands for political factors, economic factors, social factors, technological factors, environmental factors, and legal factors. ![]()
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