PESTLEC analysis framework

PESTLEC analysis framework

PESTLEC analysis framework . According to Hay and Castilla (2011), PESTLEC analysis is a simple and flexible analysis framework which includes effective expertise and cross-functional skills. PESTLEC analysis has the capability to contribute in the reduction of possible impacts of the potential threats on the organizational business performance. PESTLEC also stimulates the development of strategic thinking which can improve the business performance (Hay and Castilla, 2011). As argued by Houben et al . (2011), this tool is very useful in allowing firms to exploit well the viable opportunities through providing the right mechanism which can help firms to engage in new markets.  According to Mkude and Wimmer (2015), PESTLEC analysis includes some critical disadvantages. In fact, the data provided by PESTLEC analysis can be generalized by the clients and thus impacts in a negative the firms image. In addition, the PESTLEC analysis as a tool in order to be effective requires to be performed more than one time and this can be costly for the firm (Mkude and Wimmer, 2015). According to Srdjevic et al . (2012), Once performed by limited and selected number of participants, the tool can become ineffective and unreliable as the decisions are rather subjective. 

Answer preview for PESTLEC analysis framework

Access the full answer containing 725 words by clicking the below purchase button