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PESTEL Analysis of External Environment as a Success Factor of Startup Business

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  • Ivana Marinovic Matovic

    (Addiko Bank AD, Belgrade, Serbia)

Abstract

The objective of this paper is to present the purpose of PESTEL analysis as a critical factor for startup success. It proposes the use of PESTEL analysis as a tool to evaluate the business environment for startup organizations, with emphasis on the most common challenges faced by startups in conducting a PESTEL assessment. The main goal of the paper is to provide an overview of the situation, identify areas of importance for improvement, and define guidelines for startup business, with the aim of increasing competitiveness. Contribution of the paper is theoretical and empirical, in the specific context of PESTEL analysis for startup business.

Suggested Citation

  • Ivana Marinovic Matovic, 2020. "PESTEL Analysis of External Environment as a Success Factor of Startup Business," ConScienS Conference Proceedings 015im, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:conswp:015im
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    References listed on IDEAS

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    1. Athanasios Kolios & George Read, 2013. "A Political, Economic, Social, Technology, Legal and Environmental (PESTLE) Approach for Risk Identification of the Tidal Industry in the United Kingdom," Energies, MDPI, vol. 6(10), pages 1-23, September.
    2. Anastasia Christodoulou & Kevin Cullinane, 2019. "Identifying the Main Opportunities and Challenges from the Implementation of a Port Energy Management System: A SWOT/PESTLE Analysis," Sustainability, MDPI, vol. 11(21), pages 1-15, October.
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    More about this item

    Keywords

    PESTEL analysis; business environment; start-up; organisation; entrepreneurship;
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