Which of the following is NOT a component of PESTLE analysis?

PESTLE analysis is a strategic framework used by businesses to understand the external factors that could impact their operations. The acronym PESTLE stands for Political, Economic, Social, Technological, Legal, and Environmental factors. To effectively use this framework, it's important to identify the correct components.

The option "Cultural" is not a formal element of the PESTLE framework. Instead, the Social component of PESTLE addresses cultural factors such as societal attitudes, lifestyle changes, and demographic shifts. This is where cultural dynamics are usually examined in relation to their impact on business.

In contrast, the other components—Legal, Environmental, and Technological—are all recognized parts of the PESTLE analysis. Legal examines regulations and laws that businesses must follow, Environmental includes factors related to ecological and environmental aspects, and Technological reviews the impact of technological innovation and change on an industry. Therefore, identifying "Cultural" as not being a component is accurate based on the structure of PESTLE analysis, as it falls under the broader Social category.