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Analyzing External Market Forces

As a company looks to leverage its capabilities and expand, knowing what external market forces (political, environmental, social, technological, economical, and legal) they will encounter is key to successful scaling.

Generally done in conjunction with the S.W.O.T. Analysis the PESTEL tool helps to identify all of the various external factors that might affect a business. The goal is to figure out just how the different factors influence business performance.

While a SWOT analysis focuses on a company’s internal strengths and weaknesses, a PESTLE analysis concentrates on the external factors. Using both methods together produces a comprehensive evaluation of a project.

This course will guide you step-by-step through the PESTEL model for your small business.

Why MarketAtomy?

As a social entrepreneur, whether you’re an emerging business or nonprofit, you need the right information, and you need it now! That’s why Nonprofit.Courses brings you MarketAtomy Academy premium content. This course, like their others, takes a deep dive into its subject so you can get to why you started your enterprise in the first place – to impact people!

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