1.5 external environment

Question 1

What are the 7 factors of STEEPLE analysis?

Answer 1

Social
Technological
Economic
Ethical
Political
Legal
Ecological

Question 2

What are the aspects of social influences?

Answer 2

Lifestyle
Social mobility
Demographics
Education
Tastes

Question 3

What are the aspects of technological influences?

Answer 3

Infrastructure
Information and communication technologies
R&D costs
Speed of technology transfer

Question 4

What are the 6 most important aspects of economic influences?

Answer 4

Stage of economic cycle
Rate of economic growth
Rate of inflation
Rate of unemployment
Exchange rate
Interest rate

Question 5

What are the aspects of ethical influences?

Answer 5

Corruption culture in the country
Codes of conduct of/for businesses or employees
Fair trade

Question 6

What are the aspects of political influences?

Answer 6

Political stability
Regional policies
Governmental support, dialogue with businesses
Existing lobbying

Question 7

What are the aspects of legal influences?

Answer 7

Specific laws and regulations such as:
Competition law
Consumer protection
Employment law
Tax law
Health and safety regulation

Question 8

What are the aspects of ecological influences?

Answer 8

Possibility of less footprint
Availability of renewable resources
Overall state and vulnerability of the environment on the ground

Question 9

What are the limitations of STEEPLE analysis?

Answer 9

1. Subjective approaches and biases of a researcher
2. Low quality data
3. Oversimplified data
4. Too much data causing ‘paralysis of analysis