STEEPLE analysis

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STEEPLE analysis
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STEEPLE analysis is one variant of the very popular and simple strategic management method for analysis of external environment of the organization. It is based on PEST analysis method, with addition of additional Environmental, Ethical and Legal factors. It has other variants, which only have different order of factors: SLEPT analysis, PESTLE analysis and PESTEL analysis. In PESTLED analysis additional Demographic factor is added.

Main factors of STEEPLE analysis[edit]

Five external factors influencing organization is considered:

  • Socio-cultural - social forces influence our attitudes, interests, opinions, moreover create our behavior and ultimately what we purchase. Trends’ changes have correspondingly direct impact on enterprises. These factors contain: structure of population, falling rates, competition, increase of global population, traditions, level of education, cultural diversity and standards. More examples of Social and cultural factors affecting business.
  • Techonological - technological advances have greatly changed the manner in which businesses operate. Nowadays technological progress created a society which expects instant results. Here we can mention: new technologies, absorptive capacity for innovation, globalization. New technologies shorten Product life cycle and increase demand for new products. This revolution has increased the rate at which information is exchanged between stakeholders. A faster exchange of information can benefit companies as they are able to react quickly to changes. More examples of Technological factors affecting business.

Fig. 1. Place of STEEPLE analysis in strategic management process

Above mentioned external environment factors, can have both positive influence (then they are called opportunities) or negative influence (and then they are called threats).

References[edit]

  • Bowman, C. (1998). Strategy in practice (p. 201). Prentice Hall Europe.
  • Pearce, J. A., Robinson, R. B., & Subramanian, R. (2000). Strategic management: Formulation, implementation, and control. Columbus, OH: Irwin/McGraw-Hill.

Author: Krzysztof Wozniak