Some risks are extremely difficult to assess, especially if they are external to a company, or if there are “macro” type influences on your company (such as environmental, economic, geopolitical, societal, etc.). One way to help define these risks is to consider using the PESTLE analysis method. The PESTLE analysis has many uses and helps a company to determine its strategy. It considers all various influential (and often local) factors that can affect a company’s products—regulatory, child labor, acts of nature, and other unique types, which certainly are not within the control of a company and its leadership. It is broadly used by many companies such as those shown in Figure 11.1.
There are six categories of ...
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