PESTEL analysis for TLE oil company in the Philippines
by
erikatan93 (student)
Environmental Scan
The success of any business operation depends on the quality of managing both internal and external environments. In managing the TLE, there is a need to focus on some of the environmental factors and the various tools that can be utilized in the analytic process. One of the tools that can be used is the PESTEL (Political Factors, Economic Factors, Technological Factors, Environmental Factors, Legal Factors, Ecology, Socio-Cultural, and Potential Supplies). An analysis of these factors is enumerated in the succeeding portion of the paper.
Political Factors
As mandated by existing laws, TLE need to comply with various legal requirements. One of these is the taxation law. Income and Value Added taxes are being remitted to the government. For this reason all legal and taxation requirements are being complied by TLE on time. In regards with trade regulations all standard procedures are being followed and placed. This is with regards with the terms and conditions presented by Total Corporation. However, the primary way that politics can affect Oil is in the regulatory sense. But nothing is alarming because oil and Gas Company in the Philippines is covered by a range of regulations that limit where, when and how extraction is done. As a result, Total Corporation surely complied with all of these laws; hence nothing damaging can affect the business with regards to political factor.
