Explain to using PESTLE framework to explain oil industy that: -Identify external trends that may have an impact on the chosen industry-Assess whether the identified impact will be positive or negative-Determine the time frame that the impact will be relevant (short term, medium term or long term)

PESTLE(PESTEL) External Factors (No Direct Control) Political Environment/Government - How does current I future government policy affect the industry Economics 0 Exchange rates, economic growth/stability/inflation/unemployment/labor availability in your market Social - Demographics, Psychographics, Culture, Sociological Technology 0 stability/dynamism of core/peripheral technology Environment - How does the natural environment affect the industry or your business Legal - Regulatory/Legal