Question

PESTLE analysis is a useful tool for understanding the _______ of the environment in which an entrepreneur is planning to operate.

• A. Small
• B. Big picture
• C. Both (A) and (B)
• D. Neither (A) nor (B)

Answer 1

The correct option is B Big picture

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business.

PESTLE analysis is a type of environment scanning where PESTLE stands for political, economic, sociological, technological, legal and environmental sectors of the business where these different sectors of the business are analysed in order to update the business with the current environment.