STEEPLE Analysis

The following are all social factors within the STEEPLE analysis except:

• lifestyle trends

• global communications

• demographic changes, such as aging populations

• changes in ethical perspectives and issues

The impact of changes in interest rates is a ........ factor in the STEEPLE analysis

• Social

• Ethical

• Technological

• Economic

When businesses consider the domestic and international legislation, such as employment rights, health and safety regulations and consumer protection laws of their workers, this is considered as a ..... factor.

• Political

• Legal

• Social

• Economic

Sourcing (supply chain management) from a responsible supplier is an example of ..... factor in STEEPLE.

• Economic

• Social

• Technological

• Ethical

All of the following are examples of environmental factors except .....

• adverse or favourable weather conditions

• ecological issues, such as climate change, global warming and environmental degradation

• sustainability issues, such as single-use plastics.

• environmental protection legislation

True or False? STEEPLE analysis can be used by a business to identify the opportunities and threats for the internal environment within the business.

• True

• False

Inflation is an economic factor in STEEPLE. The current high rate of inflation around the world is a(n) ..... for the business as it .....

• threat .... reduces business cost of production rapidly

• opportunity ... reduces business cost of production rapidly

• threat .... increases business cost of production rapidly

• opportunity ... increases business cost of production rapidly

Economic growth, which is an economic factor in the STEEPLE analysis, increases when .....

• Consumer expenditure decreased

• Consumer borrowing increased

• Consumer borrowing decreased

• Consumer expenditure increased

Balance of trade (BOT) is an economic factor in STEEPLE, as it measures the import vs. export of a country. When the country imports more than it exports, a business is affected because ....

• The currency will gain value, causing export prices of raw materials to increasethei

• The currency will gain value, causing export prices to increase. Exports become uncompetitivT

• The currency will lose value, causing import prices of raw materials to increase

• The currency will lose value, causing import prices to increase. Imports become competitive

When the government imposes a tax on a good that is sold by the business, this is an example of ..... factor that affects the business activity.

• Political

• Economic

• Legal

• Environmental