Landscape impacts on your strategiesThe PESTLE framework has become a standard approach in analyzing the external landscape of the organization. By understanding how the political, economic, social, technology, legislation, and environmental factors all impact your strategic direction, you’ll be in a better position to meet or excel in the challenging new circumstances.
The Wizsm Landscape Impact workflow is built around analytics that work with known management approaches, such as PESTLE. Wizsm brings both a semantic and a quantitative view of external impacts on strategic direction. The workflow begins with organizing what we know about the external environment and then linking that semantically with strategic statements and typical characteristics such as impact, importance, risk level and so on.
To determine what is known about the external ecosystem of the business, PESTLE looks at 6 key areas. Briefly these PESTLE components are:
- P – Political – What are the political situations that affect your organization and what type of impacts do they have?
- E – Economic – What economic factors are you most concerned with?
- S – Social - What social trends are most important to your organization?
- T – Technology – What technologies are you most exposed to that determine the direction of your products and services?
- L - Legislative - What new laws or regulations are you concerned with?
- E – Environment – What environmental changes or concerns help or hinder your organization?
- M – What are the markets of interest to your organization?
- B – What issues do business executives think are important today?