According to Business Directory, they are “the major external and uncontrollable factors that influence an organization's decision-making process and influence its performance and strategies. These factors include economic factors; demographic data; legal, political and social conditions; technological changes; and natural forces." A macro-environmental analysis is usually the first step of a strategic analysis and is sometimes called a PESTLE analysis. According to (Barrows and Neely, 2011, p. 151) “PESTEL analysis allows managers to collect, synthesize and publish information relating to each macro-environmental factor that influences their organization”. It is important to note that not all factors affect organizations in the same way