Ø PESTLE is an
analytical tool which considers external factors and helps you to think about
their impacts
Ø Is a useful
tool for understanding the “big picture” of the environment in which you are
operating
Ø By
understanding your environment, you can take advantage of the opportunities and
minimize the threats.
Ø This
provides the context within which more detailed planning can take place to take
full advantage of the opportunities that present themselves.
Political Factor
Political factors include
government regulations and legal issues and define both formal and informal
rules under which the firm must operate. Some examples include:
Ø tax policy
Ø employment laws
Ø environmental regulations
Ø trade restrictions and tariffs
Ø political stability
Political factors of Nokia
Legal
constraints (such as the G3 technology constraints that Nokia have to take into
consideration) must be taken into account because many businesses aim to make a
profit so they may be tempted to mislead their customers about prices, quality
of products and the availability of their products. They may also try to cut
expenditure by using lesser quality materials in their products (such as weaker
materials for Nokia cases and batteries)
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