What is a pestle in university of hertfordshire Essay

What is a pestle in university of hertfordshire - Essay Example Some of these factors include interest rates, change in taxation, economic growth, inflation and even exchange rates. When these factors are not considered when making critical decisions in the organization, they may impact negatively to the organization. The level of competition also has an impact on the overall decision to be made by an organization. Third factor is sociological factors. Cultural factor may negatively impact on the success of a product in the market. Other social factors such as the religion may also have a negative impact on the organization. Fourth macro-factor that may affect the organization is technology. New technologies create new products and create a demand of specific services. Technology also poses a threat to the organization through increasing the level of competition. In addition, it creates new opportunities. Climatic factors such as weather and climate change may have a negative impact on the organization. Some of the organizations that are likely to be affected by this sector include farming, tourism and also insurance. Lastly, Legal factors also affect the organizations existence and performance. Legal changes might bring about changes in the consumption behavior of the people. Passing of new laws may therefore create new opportunity or eliminate the product from the