PESTLE - why it matters

This short article from the FT is worth highlighting as support for the vital need for PESTLE analysis. Jeremy Ghezis a professor of economics and international affairs at HEC Paris, a business school which was ranked 2nd in the 2016 FT rankings of European Business Schools, and writes that, in an increasingly politicised world, being a 'power player' requires the ability to understand and anticipate global political and social dynamics and the willingness to be proactive and strategic in influencing a company’s business environment. He argues that managers will need a wider range of tools and skills than before, in order to ensure that their businesses are resilient and sustainable. He is keen to see business schools teaching future executives about the need to 'tame' the unstable environment, by ensuring that they understand economics and geopolitics as well as business models.

A real understanding of the PESTLE model and lots of practice at applying it to current news stories is a great way to start on that process.