Final answer:
PESTEL analysis is a framework used to analyze external macro-environmental factors that can impact a business. The factor that is NOT relevant in a PESTEL analysis is Ethical.
Step-by-step explanation:
The answer is D. Ethical.
A PESTEL analysis is a framework used to analyze the external macro-environmental factors that can impact a business or organization. The acronym PESTEL stands for Political, Economic, Social, Technological, Environmental, and Legal. These factors help identify the external forces that can influence a business's operations, decision-making, and overall success. While all the options listed in the question are relevant factors in conducting a PESTEL analysis, the factor that is NOT relevant is D. Ethical. Ethical considerations are not typically included in a PESTEL analysis as they are more focused on internal factors and the organization's values and principles.