The External Environment (Unit 1 P4)
The external environment is the environment that exists outside of the business. It cannot control the factors in the external environment but should continually investigate and respond to them.
A PESTLE analysis is a method of analysing an external environment by breaking them down into political, economic, social technological, legal and environmental and ethical factors. By looking at these factors separately, a business can analyse them in more detail and gain a better understanding of their impact.
