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One of first steps in determining a strategy for any player in an industry is to examine its external environment using PESTLE or PESTEL. a.

One of first steps in determining a strategy for any player in an industry is to examine its external environment using PESTLE or PESTEL.

a. Analyse the key elements in the model and support your answer with examples of the key information required for a new entrant to the market.

b. Point out reasons why companies will undertake this exercise.

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