Pestel Analysis and the Porter's Five Forces

Abstract

Strategic model analysis is required in a continuously changing environment where businesses must respond and fulfill the Sustainable Development Goals. These models must cover all the variables that can affect the environment for doing business within an industry. For this reason, it is proposed to create a sectoral analysis model that integrates the PEST and Porter's five forces analysis. The purpose of this qualitative research is to validate the relevance of the proposed model. The research is carried out based on the perception of a sample of students from the business administration program of the Politecnico Grancolombiano University in Colombia which used the application model proposed during the period 2020-2021. The authors found that with an average rating of 4.48 out of 5, the group of respondents positively values the usefulness of the model proposed.