The PESTEL framework highlights six critical factors for management to consider when approaching the general business environment.
Globalization is the international integration of intercultural ideas, perspectives, products/services, culture, and technology.
Ethics is at the core of corporate governance, and management must reflect accountability for their actions on a global community scale.
Globalization demands a diverse workforce, and assimilating varying cultures, genders, ages, and dispositions is of high value.
Technology management is crucial in offsetting the risks of new technology while acquiring the operational benefits it provides.
Managers must understand a company's competitive advantage and build a strategy that takes into account the competitive landscape.