The company that I have chosen for this purpose is Apple.
The company is an American multinational which is known to be selling consumer electronics, computer software other online services.
Individual Assignment: PESTLE Analysis
In order to be successful in a business environment, you must acquire tools that can help you analyse various environmental factors and situations. One useful tool to analyse external environmental factors is the Political, Economic, Social, Technological, Legal, and Environmental (PESTLE) analysis. The PESTLE analysis is used to view the external environment from many angles, in order to make strategic decisions. The political component analyses the extent to which the government regulates the industry.
For example, the hardware industry may have little or no government regulation, while the firearms industry has intense government regulation. The economic component analyses how the economy can affect an organisation or industry. For example, a weak economy may see an increase in budget-friendly stores like Tesco where more upscale stores like Harrods could see a decline in sales. The social component analyses factors such as trends and demographics; the technological component addresses the impact of innovations in technology; the legal component analyses the legal factors that can affect how an organisation operates or the demand for its products; and the environmental component looks at natural resources and other elements of the natural environment. By using the complete PESTLE analysis, you can enhance strategic decision-making and recognise factors you may have not otherwise considered.
This Individual Assignment will allow you to practise applying two analytical tools, the PESTLE analysis and one additional analysis method of your choosing, and continue working toward your Final Project.
To prepare for this Individual Assignment:
- Review the organisational issue you selected for your Final Project.
- Review this unit's Learning Resources about PESTLE and other external environmental analysis tools and methods; use these as a basis to identify one to two additional scholarly sources on external environmental analysis.
- Select one external analysis tool or method other than PESTLE to use in this assignment.
To complete this Individual Assignment:
- Apply a PESTLE analysis to the organisation you selected.
- Apply the second external environmental analysis tool or method you selected to the organisation.
- Compare the results of each analysis and critically evaluate the strengths and limitations of each analytical method. Justify your answer; provide support for your arguments with citations from the literature.
- Explain whether PESTLE and other external analysis tools are useful in understanding the organisational issue you identified in Unit 1, and if so, how.
- Provide two to four questions you might need to ask key stakeholders in the organisation in order to obtain additional information that would help in refining your analysis.