PESTEL
A framework used to monitor the macro-environmental factors that impact an organization.
What is PESTEL?
Defines beliefs and principles that guide an individual's or business's actions.
What are core values?
This behavior includes, but is not limited to, dishonesty, fraud, and theft.
What is unethical behavior?
In this type of business organization, the owner retains full control over decision-making and profits but is responsible for all business debts.
What is a sole-proprietorship?
This department innovates around new and existing goods, services, and processes to better meet customers' needs and wants.
What is research and development?
A PESTEL factor that includes regulation, law or ordinance passed by a local, state or federal government.
What is Political?
An individual's or business's capabilities, skills, and expertise that contribute to their ability to outperform rivals.
What are core competencies?
Established formal written standards of behavior imposed by the company.
What are codes of ethics/conduct?
This type of business organization offers owners the ability to retain control while protecting them from personal liability for business organizations.
What is a LLC (Limited Liability Company)?
This department secures and manages the use of funds; they use data to recommend strategies that improve business performance.
What is Finance?
A PESTEL factor that includes cultural movements, demographic shifts and changing consumer lifestyles.
What is Social?
Provides a concise description of a business's core value and aspirations.
What is a vision statement?
This issue exists when a core company value, such as fairness, transparency, or empathy conflicts with:
-other core values
-specific business goals
-established business practices
What is an ethical dilemna?
This type of business organization is owned by two or more people who share control and profits, like sole proprietors, they are personally liable for debts.
What is a partnership?
This department recruits, trains, and evaluates employees to ensure the workforce has the knowledge and skills necessary to produce and sell products.
What is Human Resources?
A PESTEL factor that includes large-scale financial and market conditions that influence costs and consumer spending.
What is Economic?
Provides a description of what a business does and how the business will acheive its long-term goals.
What is a mission statement?
Individuals or groups not directly employed by the company buy who have a vested interest in its decisions.
What are external stakeholders?
This type of business organization is a complex structure where owners cede control to shareholders and a board of directors.
What is a corporation?
This department tracks all expenditures and earning to prepare financial statements and monitor the business's financial health.
What is accounting?
A PESTEL factor that includes new innovations and digital tools that disrupt traditional business models
What is Technological?
These organizations aim to serve the public good rather than generating profit for their owners. Any surplus funds must be reivested in the organization by law. They often rely on grant funding and donations as part of their revenue.
What are non-profit organizations?
Choosing a path most consistent with the business's stated vision and long-term goals.
What is strategic alignment?
This type of corporation has a maximum 100 shareholders and suffers only single taxation (pass-through).
What is an S-Corp?
This department manages the technical process of manufacturing goods or developing services to get the business's products to customers.
What is operations?