This video single-handedly explained the core meaning of these two very tightly connected analysis in 4 minutes. It took 2 lessons an my UNI to explain the concept. Thank you so much for making it easier to understand.
What i undertand abt this video is about how external and internal forces give impact to an organization. It describes on strength of a long term company. The PESTEL analysis seized the opportunities in improving organization of a company
PESTEL analysis is a framework or methodology that marketers use to study and track macro-environmental (external marketing environment) aspects that affect an organisation, company, or industry. It investigates the external environment's political, economic, social, technological, environmental, and legal elements. Threats and weaknesses are identified using a PESTEL study, which is then employed in a SWOT analysis.
It's for my college work so ignore. The above video mentions swot and pestel analysis which helps in understanding internal and external environment of firm. Internal forces describes Strength and Weakness of firm. External forces pose opportunities and threat. External forces influence the buisness which can be identified by 6 elements political, economical, social, technology, environmental issue, legal elements. I.e.--p.e.s.t.e.l
PESTEL evaluation is a framework or technique that entrepreneurs use to observe and music macro-environmental (outside advertising environment) factors that have an effect on an organisation, company, or industry. It investigates the outside environment's political, economic, social, technological, environmental, and prison elements. Threats and weaknesses are diagnosed the usage of a PESTEL observe, that's then hired in a SWOT evaluation.
