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Which statement about the purpose of PESTEL is correct? A. It helps managers understand how a firm's external environment affects the firm. B. It helps managers understand how a firm's internal strength may help it take advantage of an external opportunity C. It helps managers understand the relationship between the firm's industry and its buyers and suppliers D. It helps managers understand the firm's internal environment, such as its employees' union.

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Answer:

A. It helps managers understand how a firm's external environment affects the firm.

Explanation:

PESTEL is an acronym that stands for Political, Economic, Socio-cultural, and technological. It analyses the environment in which a business operates.

In marketing it has found an application in forecasting market decline and growth, market direction, and potential.

The analysis is an external one that identifies strengths and weaknesses in macro-environmental factors. This knowledge can now be used in SWOT analysis by the business.

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