STEEPLE Analysis

• Definition: A strategic tool for analyzing external factors affecting businesses and organizations.

• Components of STEEPLE:

  • Society: Examines societal influences and social trends.

  • Technology: Looks at technological advancements and innovations.

  • Environment: Considers ecological and environmental impacts.

  • Economy: Assesses economic conditions and indicators.

  • Politics: Explores political stability and government policies.

  • Legal: Involves laws and regulations that impact business.

  • Ethical: Focuses on ethical considerations in business decisions.

Components Breakdown

Society

• Natural: Trends around health, lifestyle, and well-being.

• Social Mobility: Movement of individuals within the social hierarchy.

• Demographics: Statistical data relating to population characteristics.

  • Life Style: Changes in daily living and consumption habits.

  • Education: Educational attainments and access to education.

  • Fashion and Tastes: Shifts in consumer preferences.

  • Income Distribution: Analysis of income across different population sectors.

Technology

• Progress: Innovations that drive efficiency and competitive advantages.

• Transfer of New Technologies: How new technologies spread within industries.

• Infrastructure: Necessary systems and structures required for technology adoption.

• R&D Costs: Investments in research and development impacting technology advancement.

Economy

• Business Cycle: Fluctuations in economic activity over time.

  • Inflation/Deflation: Rates of price increases and decreases in the economy.

  • Unemployment: Proportion of the labor force that is jobless.

  • Interest Rates: Cost of borrowing money, expressed as a percentage.

  • Exchange Rates: Value of one currency relative to another.

  • Globalization: Integration into global markets, influenced by trade and economics.

Ethical Considerations

• Corruption: Issues of integrity and trust in business practices.

• Transparency: Importance of clear communication and openness in operations.

• Fair Trade: Sustainable and equitable trading practices.

• Codes of Business Behaviour: Ethically guided protocols for business conduct.

Political Environment

• Political Stability: Impact of stable governance on business operations.

• Trade Policies: Regulations affecting international trade.

• Lobbying: Influence of special interest groups on public policy and legislation.

Legal Framework

• Business Regulations: Laws governing the operational standards of businesses.

• Employment Law: Legal standards affecting workforce rights and compensation.

• Health and Safety Standards: Regulations ensuring workplace safety and public health.

• Anti-Monopoly Regulations: Laws preventing monopolistic practices.

• Tax System: Framework of taxation affecting businesses and economies.

Environmental Factors

• Depletion of Natural Resources: Impact of consumption on the earth's natural assets.

• Global Warming: Environmental changes due to human activities.

• Carbon Footprints: Metrics measuring carbon emissions produced by businesses.

• Organic Farming: Sustainable practices focusing on environmentally friendly agriculture.

PEST Analysis

• Definition: A framework for analyzing Political, Economic, Social, and Technological factors.

• Components:

  • Political

  • Economic

  • Social

  • Technological

• Adaptations: Transitioning into a more holistic PESTLE analysis including Legal and Ethical factors.