How is PESTLE analysis used as a strategic tool?
Strategic management is about formulating and implementing decisions which allow an organisation to achieve its long term objectives. This can be done ad-hoc, regularly or continuously scanning. Whether the scanning is of TESCO as an entire organisation or individual store, a PESTLE analysis should be undertaken. Strategies are formulated by Chief Executive Officers, approved by the Board of Directors and implemented by Senior Management. The PESTLE analysis is part of the environmental scanning branch of strategic management.
