The most significant disadvantage of the model is that PESTLE analysis is only based on an assessment of the external environment. PESTEL analysis has been used as a qualitative tool to explore the macro-environment surrounding the sustainable HCWM during the COVID-19 outbreak (Song etal., 2017; Mkude and Wimmer, 2015). India is also adversely effected and right standing in the second position after USA, accounting for more than 8.4 million COVID-19 patients (Health Bulletin, WHO, 06th Nov 2020).https://indianexpress.com/article/india/coronavirus-india-live-news-updates-covid-19-cases-tracker-deaths-lockdown-latest-news-covid-19-vaccine-6522197/Consequently, the health emergencies have exerted an exceptional burden on routine activities and commercial businesses (Rothan and Byrareddy, 2020). Automation and digitalization in product manufacturing (challenge). An external environmental analysis has been conducted to examine the environment in which the company operates. Trending of fitness and yoga among millennials (opportunity). These strategic factors are opportunities or threats that impact business performance relative to competitors, such as Google , Microsoft , Amazon , Samsung, IBM , Dell, HP, Sony , Lenovo, Huawei, and LG. ETPS STEP. CFA Institute Does Not Endorse, Promote, Or Warrant The Accuracy Or Quality Of WallStreetMojo. Article Type: Practitioner viewpoint From: African Journal of Economic and Management Studies, Volume 5, Issue 1. WHO has issued some strict guidelines for WASH and COVID-19 facilities (World Health Organization, 2020): i) WASH practitioners should continuously ensure hand hygiene by using alcohol-based sanitizer or soap. Step 3. potential contextual factors is through the application of a PEST analysis (McGee etal., 2005, p. 13). Moreover, this concept is used as a tool by companies to track the environment they're operating in or are planning to launch a new project/product/service, etc. Social awareness about infectious HCW (SOC 2). Moreover, in developing countries like India, the HCWM industry is completely unorganized in rural areas compared to urban and semi-urban areas. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. Pinzone M., Guerci M., Lettieri E., Huisingh D. Effects of green training on pro-environmental behaviors and job satisfaction: evidence from the Italian healthcare sector. PPP model for handling HCW during COVID-19 outbreak (POL 2). Moreover, as businesses expand beyond their domestic boundaries, understanding the macro-environment aspects has become even more important. Economic information can be found in the Products & Market - Demand Determinants section. Wang J., Shen J., Ye D., Yan X., Zhang Y., Yang W. Disinfection technology of hospital wastes and wastewater: suggestions for disinfection strategy during coronavirus Disease 2019 (COVID-19) pandemic in China. Some of such firms further expanded their business to different industry and industry sectors and also started to use many business models to reach and cover the entire world. IKEA started its journey on July 28, 1943, when a 17 years old young entrepreneur boy Ingvar Kamprad laid its foundation. 1 0 obj
Deploying the tracking system in the bags carrying COVID-19 infected wastes, will ensure the proper records maintaining and safe handling of HCW till the final disposal. The implications for the hospitals managers and waste treatment facilities have been suggested to develop the HCWM during the COVID-19 outbreak (highlighted in 5.1). The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper. Corporate valuation, Investment Banking, Accounting, CFA Calculation and others (Course Provider - EDUCBA), * Please provide your correct email id. This step will extract the knowledge-base by asking the experts: How the one PESTEL dimension triggers/influences the other one? The opinions about the established relationships among dimensions have been collected from the experts through structured interviews (Zhao etal., 2020; Hasan etal., 2019; Jena etal., 2017). Nestle is one of the world's largest food & beverage company leaving the competitors like Pepsi, Coca . Thakur V., Ramesh A. Analyzing composition and generation rates of biomedical waste in selected hospitals of Uttarakhand, India. Two authentic PESTLE analysis books 1. Hence, the role of reverse supply chain becomes crucial to protect the society and environment from the infectious HCW (Qdais etal., 2020; Yu etal., 2020). . Townend W.K., Cheeseman C., Edgar J., Tudor T. Factors driving the development of healthcare waste management in the United Kingdom over the past 60 years. the PESTLE analysis is to recognize laws that have an impact upon the organization even though they originate from countries other than that in which the organization is based. Technological factors mean the innovations and developments in technologies.These factors impact an organization's operations. These tools are completely new and original in their approach and application. Managerial Implications: The proposed tools will force organisations to take two important steps in their strategic planning. Key words: Competitive advantage: an asset that allows an organisation to stand out positively and get ahead of its competitors in a particular sector. Competitive strategy: methodology implemented with the aim of maximising the success of the business through innovation and greater advantages than those of the competition. Economic situation: the overall position of an entity, determined by all of its political, economic and social elements. Here, the interpretive logic-knowledge base has been developed for all the pair-wise comparisons for which the particular comparison cell entry is yes (Zhao etal., 2020). to waste handlers should be provided (Rothan and Byrareddy, 2020; Mkude and Wimmer, 2015). World Health Organization . Applications of PESTEL and TISM-MICMAC methodologies. Accessibility International Journal of Economics, Commerce and Management, United Kingdom Licensed under Creative Common Page 957 SWOT Analysis - Internal Environment A SWOT analysis summarizes the key issues from the business environment and the strategic capability of an organization that are most likely to impact on strategy development (Johnson, The PESTEL framework resulted in a total of 17 dimensions (shown in Table1), which may affect the decision-making for handling the infectious HCW suring COVID-19 outbreak. The PESTLE analysis refers to the screening of political, economic, sociological, technological, legal, and environmental aspects of the macro environment. (1), the FDRM is converted into a stabilized fuzzy-MICMAC matrix. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. Economic factors include current and projected economic growth; inflation and interest rates; job growth and unemployment; labor costs; impact of globalization; disposable income of consumers and businesses; likely changes in the economic environment. Analyzed the barriers of implementing HCWM practices using ISM and fuzzy-MICMAC analysis. Song J., Sun Y., Jin L. PESTEL analysis of the development of the waste-to-energy incineration industry in China. Funding of higher education (see, for example, the introduction of so-called "top Enhancing sustainable innovation through collaboration (opportunity). The analysis gives an idea of macro-environmental factors that impacts the functioning of a particular business. Thakur V., Anbanandam R. Healthcare waste management: an interpretive structural modeling approach. The role of market orientation on company performance through the development of sustainable competitive advantage: the Inditex-Zara case. Received 2020 Jul 28; Revised 2020 Dec 10; Accepted 2020 Dec 13. As per the latest report on BMW Management rule, 2016 published in Gazette of India (March 2016), a total of 1,31,837 healthcare facilities in India are using the common bio-medical waste treatment facilities, while 21,870 hospitals are using on-site facilities to treat their HCW. The literature lacks studies on exploring the macro-environment surrounding the HCWM system and the interrelationships among the factors affecting the sustainable handling of infectious wastes. Public Company Websites. Begin typing PRS Group Political in the Publication box and then select PRS Group Political Risk Service that appears below the box and click Search. A PESTEL analysis is an acronym for a tool used to identify the macro (external) forces facing an organisation. Rothan H.A., Byrareddy S.N. PESTLE Analysis: Prepare the Best Strategies in Advance. PPP model will help in setting up a quick response HCWM system and infrastructure in the COVID-19 hospitals. Sustainable solid waste management in developing countries: a study of institutional strengthening for solid waste management in Johannesburg, South Africa. COVID-19 outbreak, Pandemic, Sustainability, Healthcare waste management (HCWM), PESTEL, TISM. Encyclopedia Article about SWOT Analysis containing - general explication of this research method as an analytical tool in order to visualize and evaluate the strengths, weaknesses, opportunities, and threats of a company, - background about the research outcomes of this research method and the specific use for companies, especially in the tourism industry - a detailed description of the method including typical mistakes - possible combinations of this method with other analytical tools, - and further readings. Partitioning the PESTEL dimensions of sustainable HCWM. So far, researchers around the world have focussed on optimizing the reverse supply chains for minimizing the operational costs (Yu etal., 2020; Budak and Ustundag, 2017; Shi etal., 2009). (2019), Government facilities are full of deficiencies in HCWM practices. The origin of the Haitian cholera outbreak strain. It identiSes the changes and the effects of the external macro environment on a Srm's competitive position. IKEA achieved the status of the world's largest and renowned furniture manufacturing brand in 2008. In addition to the income tax, employees must also pay solidarity tax, which is capped at 5.5% of their income tax. The escalating number of COVID-19 patients are resulting in a higher quantity of infectious wastes daily. (Photo: Public Domain) Walmart's remote environment or macro-environment involves factors that determine the company's success. Developing sustainable products (challenge). TISM is a very useful tool in handling the complex problems, by taking the experts inputs and developing an operational framework for a better understanding of the challenges and elements involved in sustainable HCWM (Sindhu etal., 2016). Sometimes it's expanded to include legal and . stream
These are systematic factors that are beyond ones control and businesses need to chart out strategies keeping the results in view to peacefully coexist and keep on gaining revenues despite the concurrent situation. government site. As per Kleme etal. Here, the macro-environment surrounding the sustainable HCWM during the COVID-19 pandemic, has been explored under six main dimensions: political, economic, social, technological, environmental, and legal. Achemical cocktail during the COVID-19 outbreak in Beijing, China: insights from six-year aerosol particle composition measurements during the Chinese New Year holiday. Phase 1: PESTEL analysis: Identifying the factors to sustainable HCWM during coronavirus pandemic. Calma J. Lakshmi Priyadarsini S., Suresh M. Factors influencing the epidemiological characteristics of pandemic COVID 19: a TISM approach. Out of which, the automotive company's net profit was 3.965 billion US dollars, and it has declined by 8.17%. iv) mixing of the general wastes with the infectious HCW and open burning of the HCWs releasing harmful gases in the environment (Aung etal., 2019; Thakur and Ramesh, 2016; Gupta etal., 2009). Reverse logistics optimisation for waste collection and disposal in health institutions: the case of Turkey. Autonomous group: Dimensions falling under this group will be having very low driving and dependence power. Thirdly, the hierarchical as well as non-hierarchical relationships among the identified PESTEL factors of sustainable HCWM during the COVID-19 outbreak, can be explored using the TISM methodology, which will facilitate the hospitals management for real-life decisions (Thakur and Ramesh, 2016). Technological factors affect marketing in (1) new ways of producing goods and services; (2) new ways of distributing goods and services; (3) new ways of communicating with target markets. Careers, School of Management, National Institute of Technology Rourkela, Odisha, Rourkela, Odisha, India. <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
Reverse logistics network design for effective management of medical waste in epidemic outbreaks: insights from the coronavirus disease 2019 (COVID-19) outbreak in Wuhan (China). BMW PESTLE Analysis examines the various external factors like political, economic, social, technological (PEST) which impacts its business along with legal & environmental factors. Fuzzy-MICMAC analysis divides all the 17 PESTEL dimensions of sustainable HCWM into four categories depending upon their driving and dependence powers in the overall system: autonomous group, dependent group, linkage group and independent group. Hence, separate legal policies need to be defined in order to handle and treat the infectious wastes more effectively (Wang etal., 2020; Yu etal., 2020). For recording the contextual relationships among various PESTEL dimensions of sustainable HCWM, it is necessary to include the doyens from the related domain expertise (Zhao etal., 2020). Then, the BDRM matrix has been converted into FDRM by replacing all the binary relationships by the fuzzy values as defined by the experts. PEST analysis is used in conjunction with SWOT (internal strengths and weaknesses, external opportunities and threats) and Porter's Sve forces model (encompassing the external effect of suppliers, consumer demand, new entrants, substitute product, and competitive rivalry). Prepare reachability matrix and conduct the transitivity checks, For preparing the reachability matrix, the Y in the pair-wise comparison matrix is replaced by 1 and N is replaced by 0. Such expansion strategy transformed them into multinational business firms having a number of subsidiaries or branches and through their huge structure, market share, and capability, and hence they became a prominent player in their industry/industry sector. Radke E.G., Gregory C.J., Kintziger K.W., Sauber-Schatz E.K., Hunsperger E.A., Gallagher G.R. (2020) and Thakur and Anbanandam (2017). Names: PESTLE analysis, PESTEL analysis, PESTLE framework. PESTLE Analysis Analysis of Political, Economic, Social, Technological, Legal, and Environmental factors, which the company cannot control but have an impact on business. PESTLE stands for Political, Economic, Social, Technological, Legal, and Environmental. And if this infectious HCW is not collected and treated properly, then it will poss significant risks to both medical workers as well as the patients (Saeidi-Mobarakeh etal., 2020; Yu etal., 2020). The continuous pollution emissions from the waste treatment facilities, should be compensated with some CSR activities for the local community. Efficient management of international manufacturing network under circular economy using SWOT-PESTEL-ISM-MICMAC framework. As the COVID-19 virus stays longer on plastic and stainless steel materials, hence the healthcare wastes (HCW), coming out of the treatment of COVID-19 infected patients can be one of the potential route for transmission of infection. (2020), the traditional incineration technology coupled with waste heat energy recovery, can minimize the environmental impacts of the waste emissions. The present study includes the following steps of TISM methodology: Step 1. 2103 Words9 Pages. Conducting regional specific studies may add some more dimensions to the existing list. The following technological dimensions have been considered for sustainable HCWM during COVID-19 outbreak: i) Latest incineration technology to treat infectious HCW; ii) Tracking based supply chain (collection, storage and transportation) of HCW; iii) Regular sanitization of the contact points. An overview of PEST analysis PEST analysis examines four categories of external environmental factors, namely: Political factors (P): these cover various forms of government interventions and political lobbying activities in an economy. This essay will be looking into the company 's and country 's background, PESTLE analysis and Porter's five forces. Till now, many studies have been targeted on generation rates of HCW, treatment of infectious wastes, collection and transportation of HCW, optimization of treatment costs, etc. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. (2019) surveyed 260 healthcare professionals and concluded that the training and awareness programs on greening activities motivate them towards pro-environmental behaviors. The letters stand for Political, Economic, Social, Technological, Environmental and Legal. Preparing a fuzzy direct relationship matrix (FDRM). As the HCWs coming from corona positive patients will keep on mounting with an increasing number of infected patients, the handling and disposal will continue to pose considerable challenges to healthcare facilities. One of the models of this kind is the so-called PESTEL (or PESTLE) analysis. Later, two more factors were added to it (Legal and Environmental), making it PESTLE. So, if you've received a challenging PESTLE task at college, don't rush to . To explore the interrelationships among the various factors under PESTEL dimensions of sustainable HCWM by using total interpretive structural modeling (TISM). In the case of Unilever, these external factors vary significantly, considering the international scope of the business. A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry. It operates business all over the world with a group of multicultural experienced employees. The policy framework developed for these three levels: political, legal and environmental will have the highest impact on managing the HCW during the COVID-19 outbreak situation (Kleme etal., 2020; Windfeld and Brooks, 2015). Firstly, the study highlights the various dimensions targeting six main areas (political, economic, social, technological, environmental and legal) for implementing the sustainable HCWM during the COVID-19 outbreak, but the detailed action plan on every dimension for strategic planning has not been highlighted. What to Consider for PESTEL/PEST Analysis. Defining elements of sustainable HCWM during the COVID-19 outbreak, Step 2. The PEST analysis is the most common approach for considering the external business environment. Ferronato N., Torretta V. Waste mismanagement in developing countries: a review of global issues. Technology and regulatory information can be found in the Operating Conditions section. A case study based management research and teaching pedagogy are adopted by many business schools with the belief that it is a most powerful way to study and learn new lessons required to identify, understand, and solve the problems in the process of managing and leading the organizations. PEST is an acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational unit. Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends. National Environment Policy, 2006 has set up various measures for handling infectious wastes coming out from the healthcare facilities. To answer the above research questions, the present study has targeted the following objectives: Hence, the present study seeks the application of PESTEL analysis (Song etal., 2017) to identify the dimensions of sustainable HCWM during COVID-19 breakout. In the present study, the following PESTEL dimensions of sustainable HCWM have been in the autonomous group: community displacements and disturbances during COVID-19 outbreak (SOC 1); and compensation for the local community (SOC 3). The Governments willingness and support are crucial for ensuring sustainable practices in any industry, especially when it is related to the handling of byproducts produced (Thakur and Mangla, 2019; Townend etal., 2009). It looks like you're using Internet Explorer 11 or older. This poorly managed HCW may lead to the generation of so many other diseases along with COVID-19, like: gastroenteric infection, respiratory infection, ocular infection, genital infection, skin infection, anthrax, meningitis, AIDS, haemorrhagic fevers, septicaemia, bacteraemia, candidaemia, viral hepatitis A, B and C, avian influenza etc. The process involved in exploring a Srm's external macro environment involves Sve main stages: identifying PEST factors, analyzing possible effects on the Srm, categorizing into opportunities and threats, prioritizing factors, and developing corrective or preemptive strategic action. PEST is an acronym for four sources of change: political, economic, social, and technological. The purpose of this paper is to understand SWOT analysis, one of the most popular tools in strategic planning and suggest adaptations to match the emerging business landscape. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. The investments done during the COVID-19 outbreak in any nation, will help in fighting the health outbreaks in the future also. Zorpas A. Here, PESTEL analysis will explore the various political, economic, social, technological, environmental, and legal dimensions which will affect the implementation of sustainable HCWM system within the hospitals and at the waste treatment facilities (Song etal., 2017; Mkude and Wimmer, 2015). Classifying PESTEL dimensions of sustainable HCWM. All the direct and transitive links in the TISM hierarchy have been interpreted by adding a brief explanation on the directed link itself. Hence, the worldwide governments needs to come up with the policies on the collection and segregation of the infectious wastes coming from the COVID-19 patients and channelize separately from the regular wastes to the disposal centers. Preparing binary direct relationship matrix (BDRM). Zika virus outbreak on Yap Island, Federated States OF Micronesia. (Saeidi-Mobarakeh etal., 2020; Yu etal., 2020; Budak and Ustundag, 2017; Shi etal., 2009) but, focussing on developing the sustainable HCWM during COVID-19 outbreak is the unique contribution of the present study. 2 Here, the FDRM is multiplied repeatedly until the driving and dependence powers of the dimensions are stabilized. Strategists seek to understand external factors and evaluate how business models will have to evolve to adapt to their environment. The structured brainstorming sessions through google meet online digital platform were conducted with all the experts. Effects of regulatory and legislative changes (threat). FOIA European Centre for Disease Prevention and Control, Stockholm; Stockholm: 2020. Morsing, M. &. endobj
The PESTEL model is the name given to the six categories used in PESTEL . Regular sanitization of the contact points (TEC 3). Conduct a SWOT analysis for planning further courses of action. COVID-19 outbreak has forced many people to leave their working place due to shut down and come back to their villages, which has lead to the spread of coronavirus in rural areas also. Evaluate the impact of these factors on the company.3. For the first time, the Ministry of Environment & Forest (MoEF) introduced the biomedical waste rules in July 1998, which were further revised from time to time in the subsequent years: 2000, 2003, 2011 and 2016 (Datta etal., 2018). The same reachability matrix is observed for any transitivity conditions. Fuzzy-MICMAC analysis classified all 17 PESTEL dimensions into four groups depending upon their driving and dependence powers. PESTLE Analysis is useful for four main reasons: International Research Journal of Engineering and Technology (IRJET) e-ISSN: 2395-0056 Volume: 03 Issue: 01 | Jan-2016 www.irjet.net p-ISSN: 2395-0072 The results support the recent study conducted by Serge Kubanza and Simatele (2020), where they mentioned that institutional failure for developing strict rules and regulations is a significant threat to waste management. Although, the existing legislations have the provisions for handling the infectious wastes, but, sudden COVID-19 outbreak has posed many threats in terms of extra infectious wastes coming out from the infected people. Meeting the environmental obligations while fighting against the COVID-19 outbreak will ensure the sustainable HCWM system. A framework to assess political, economic, social, technological, environmental, and legal factors Written by Kyle Peterdy Updated October 27, 2022 What is a PESTEL Analysis? For the present study, the following structure for defining the contextual relationships among various PESTEL dimensions of sustainable HCWM has been considered: Whether one PESTEL dimension triggers/influences the other one? (Zhao etal., 2020; Hasan etal., 2019). It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Let us now go through the PESTLE analysis of the German multinational sports goods company, Adidas (June 2022): In addition to risk management, PESTLE analysis is applied for strategic management. CIPD members can use our online journals to find articles from over 300 journal titles relevant to HR. Application of multi-criteria-decision approach for the analysis of medical waste management systems in Myanmar. PPP model for handling HCW during COVID-19 outbreak (POL 2) and financial subsidies to HCW handlers (POL 3) dimensions have been placed in the middle of the TISM model and also fuzzy-MICMAC analysis has identified these two dimensions as the most important by placing them in the linkage group (Malek and Desai, 2019). Mishra etal. The lack of awareness among the people about handling the infected disposable items and poor education about handling the infectious wastes are the main hurdle for sustainable HCWM (World Health Organization, 2020; Windfeld and Brooks, 2015; Botelho, 2012). But, Sun etal. The various environmental protection agencies (like: WHO, Environment and Pollution Control Boards, Central Pollution Control Board etc.) DHL is based in more than 220 countries including Singapore, which will be the chosen country to be focused on in this essay. The experts inputs on the strength of relationships among various PESTEL dimensions, are defined on the fuzzy scale ranging from 0 to 1 (0 - no, 0.1 - negligible, 0.3 low, 0.5 - medium, 0.7 high, 0.9 - very high, 1 - full). Research Limitations: The new tools suggested are propositional in nature.
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