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1.5 External Environment
1.5 External Environment
STEEPLE Analysis
Business tool for understanding a business’ external environment
Guides decision making by analyzing opportunities and threats
\
1. Social Factors
Population demographic can change
Society’s attitude towards more issues
Cultural and religious beliefs
Societal pressures towards more ethical and social responsibilities
Language
\
2. Technological Factors
Innovations in technology
Information technology (social media enhances)
New working practices
Job creation
Productivity and development
\
3. Economic Factors
Controlled inflation (rise in general level of prices)
Reduced employment
Economic growth
Boom - level of economic activity rises
Recession - fall in GDP for 3 quarters
Trough (slump) - bottom of recession
Recovery - level of GDP starts to rise
Foreign relations and exchange rates
\
4. Environmental Rates
Changes in social attitudes towards environment
Weather and seasonal changes
Health scares
Waste disposal and recycling from media and pressure groups
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5. Political Factors
Laws and policies
Increase or decrease in interest rates
Political corruption
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6. Legal Factors
Consumer protection legislation
Employee protection legislaion
Competition legislation
Social and environmental protection legislation
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7. Ethical Factors
Client confidentiality
Bribery and other illegal transactions
Treatment of employees
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Consequences with Changes to the STEEPLE Analysis
ETHICAL
views and
SOCIAL
norms
Affect company’s products, activities, and marketing strategies
POLITICAL
and
LEGAL
Force businesses to operate and comply to regulations
TECHNOLOGICAL
Adaption of newer technology and efficiency increase
ENVIRONMENTAL
Forcing engagement in sustainable production processes
ECONOMIC
Affect costs of operations, spending attitudes of customers
\
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Chapter 7 - Inference for Quantitative Data: Means
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Reactions of Alcohols: Formation of esters with carboxylic acids
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Wallerstein - The Modern World System
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DANCE: Composition and Analysis
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Chapter 11: The Jury
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Biology Chapter 11 McGraw Hill Q&A
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