PESTEL is a tool that is used to identify and analyze the macro-environmental factors that may impact a business or project. It stands for Political, Economic, Sociocultural, Technological, Environmental, and Legal factors. The purpose of a PESTEL analysis is to understand the impact of these external factors on a business or project, and to develop strategies for dealing with or taking advantage of those factors.
PESTEL helps to inform strategies for dealing with or taking advantage of those factors.