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External environment, : - Coggle Diagram
External environment
STEEPLE analysis
Social
Attitudes to foreign products and services
Language
Consumer leisure time
Roles of men and women
Demographics
Living standards
Education standards
Technological
Technology improvements
Internet access
Computer usage
Infrastructure
R&D costs
Economic
Interest rates
Exchange rates
Rate of inflation
Employment levels
GDP
Consumer spending power
Trade tariffs
Ethical
Ethnic and religion issues
Corruption
Transparency
Codes of business behavior
Fair trade
Political
Tax policies
Trading agreements
Government stability
Product labeling requirements
Legal
Regulations
Employment laws
Health and safety legislation
Competition laws
Ecological
Environmental regulations
Depletion of renewable resources
Global warming
Organic farming
Carbon footprint
Evolution of the analysis
PEST: Political, Economic, Social and Technological
PESTLE: Political, Economic, Social, Technological, Legal and Ecological
STEEPLE: Social, Technological, Economic, Ecological, Political, Legal and Ethical
Refers to various conditions external to the business
Identify changing situations in the external environment
Gain market share from them
Can plan ahead, get one step ahead of competitors
React to possible threats and seizing opportunities as they arise.
It is inside on opportunities and threats in the SWOT analysis
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