Large companies might have strategies. Small companies can’t afford them.
This is what happens when people get hold of graphics tools they’re not ready for. This is why PowerPoint is the devil.
Look at this diagram for the PESTEL framework.
Now, my Strategy lecturer taught this framework, so naturally I love it. But I don’t remember there being two “Economic” factors in the framework, and I definitely don’t remember “Social” leading to “Technology” leading to “Economic”. The factors are unordered, and this representation is mis-leading.