STEEPLE Analysis

A STEEPLE analysis is a way of evaluating external and internal factors which may influence the success of a business.

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The factors are: social, technological, economic, ethical, political, legal and environment.

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If any of the factors change a business may need to adapt its strategy.

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Business that are flexible and can adapt to change will be more successful than a business that are inflexible and do not adapt.

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Being an early adaptor and having a first mover advantage is not that useful for business, you have more probabilities to fail.

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Social factors include population size, but not the data about age groups and education levels.

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Technological factors include the state of the technological advancement and introduction to new technologies.

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Economic factors should not inclde the GDP growth rate, inflation rate, interest rates and exchange rates.

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Environmental factors are the less important as it includes weather and climate, the flora and fauna of the region, environmental pressure group activity.

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Factors such as the type of government that exists and its ideology is important to take into account.

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