PESTEL Analysis• PESTEL is an acronym that stands for Political, Economical, Social, Technological, Environmental and Legal.• It is used to describe an analysis that is used for determining the opportunities and risks of global expansion.• A strong framework used by global and multinational corporations to set the stage to develop specific tactics to mitigate the risks involved in executing their vision in unfamiliar environments.
Greece• Capital: Athens• Official Language: Greek• Independence : Ottoman and Roman Empire• Area :131,990 km (96th)• Population:11,305,118 (74th)• Currency: Drachma(2,650 yr old) and replaced with the Euro in 2002.• Official name : The Hellenic Republic(Ellas or Ellada).
Political Environment• President : Karolos Papoulias (Party: Pasok) Since 12- Mar-2005.• Prime Minister : Lucas Papademos (Independent) Since 11-Nov-2011.• Finance Minister : Evangelos Venizelo (Party: Panhellenic Socialist Movement) Since 17 June 2011• 1977 – 2011 Greece was ruled alternatively by New Democracy and PASOK being the two major political parties.
Economical Environment• GDP• (Total): $318.082 billion (37th)• (Per capita):$27,624 (29th)• HDI: 0.861 (2011, 29th)• GDP Composition (2009)6. Agriculture: 3.4%7. Industry: 20.7%8. Services: 76%• EXPORTS (22.45 b€ ) : goods, fruit, vegetables, olive oil, textiles, steel, aluminium, cement, and clothing, refined petroleum and petroleum-based products.• Main export partners: Germany, Italy, United Kingdom, and United States.• IMPORTS (43.5 b€ ) : Iindustrial and capital goods, foodstuffs, and petroleum.• Main import partners are European Union members (Germany, Italy, France, Netherlands, UK), Russia and China.
Social Environment• Ethnic Groups : Greek (94%),Albanian(4%) & Others (2%).• Official Languages : Major Greek.• Foreign languages learned : English, French, Spanish, Italian and German.• Orthodox Church of Greece (97%).
Technological EnvironmentThessaloniki Science Centre and TechnologyMuseum • R&D 456.37 million Euros. • PC Sales (electronics retailers Saturn, Electro World, FNAC, and Media Market, 2009). • European Space Agency(ESA) since 2005. • Telecommunication.
Environment• Climate : Mediterranean (Mild, wet winters and hot, dry summers).• Pindus Mountain range strongly affects the climate of the country, as areas to the west of the range are considerably wetter on average (due to greater exposure to south-westerly systems bringing in moisture) than the areas lying to the east of the range (due to a rain shadow effect).• Snowfalls : Mountainous areas of NW Greece (parts of Epirus, Central Greece, Thessaly, Western Macedonia etc).
Legal Environment• Constitution : 11-June-1975 (Third Hellenic Republic).• Legal System : European laws and influenced by German and French law.• Areios Pagos :Supreme Civil and Criminal Court.• European Law• Civil Law• Business and Partnership Laws.