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PESTEL stands for political, economical, social, technological, environmental, and legal factors affecting the business. The following table contains major factors within PESTEL analysis:
Political
- Political stability in the UK
- Changes in US and UK ‘special relationships’ and their impact on multinational business
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Economical
- USD:GBR exchange rate
- Inflation rate in the USA and UK
- Rate of unemployment in the UK
- Macroeconomic changes in the UK
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Social
- Demographics shifts in the UK
- Changes in traditional work patterns
- Increasing level of multiculturalism amongst consumers
- Shifts in Consumer Values
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Technological
- Advent of innovative technology in catering industry
- Patenting issues associated with technology
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Environmental
- Environmental ‘green’ groups and the level of their influence on consumers
- Global warming, the issues of sustainability
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Legal
- Changes in UK rules and regulations in relation to corporate governance
- Business policies to be introduced by the EU
- Legal implications of the current tax row
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