- This topic has 1 reply, 2 voices, and was last updated 1 year ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
I want to ask about minimum wage of a country in a given scenario is under political or economical heading in PESTEL model?
It doesn’t matter which heading. It could even be under legal.
I would probably classify it as economic.
The importance of PESTEL is to get you to go through a checklist that will help you to identify potentially relevant environmental factors. Once you have identified minimum wages you can then look at the potential effects on the company such as:
1 Increased costs in the country
2 Stronger competition from firms in countries without minimum wage laws
3 Fines and penalties if the minimum rate had not been paid.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.