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WAVE 3 : 1.5 EXTERNAL ENVIRONMENT - Coggle Diagram
WAVE 3 : 1.5 EXTERNAL ENVIRONMENT
EXTERNAL ENVIRONMENT
deals with stakeholders and factors that exist outside of the companies walls
can determine in which context a firm is situated
what factors can affect its performance and which stakeholders it should maintain
STEEPLE ANALYSIS
allows to view external environment critically and analytically
affects firms performance in the short, medium and long term
SOCIAL
Factors that directly reflect on the quality of life, culture and structure of society
Aging population and shifts in demographics
Cultural shifts and changes in lifestyle choices
Job security and labor pool
Imigration and emigration levels
Changes in employment types
Diversity and equality missions around the world
TECHNOLOGICAL
Tools, machines and scientific factors that can affect your business and change the way that things are done
more technology can result in
more efficiency
cost reduction
new ways of doing thing
Scientific breakthroughs that can change how the market works
shifts the competitive landscape
ECONOMICAL
Factors that affect capital, its value and availability throughout the market
Economical and sectorial booms
Fiscal policies
Inflation
Purchasing power and spending habits
Recessions and economic downturns
Valuation of local and international currencies
ENVIRONMENTAL
Factors that affect access to land, natural resources and market infrastructure
Changes in the natural environment and/or availability of natural resources
Structural changes and renovations
Environmental threats
State sustainability
POLITICAL
Policy-makers, politicians and other public figures that can affect market performance
Government stability
Political structure
Private public relationships
Trade policies and international relationships
LEGAL
Laws, rules and legislations that can affect market performance
Employment laws
Consumer laws
Business competition and protection laws
Data privacy
Tax policies
ETHICAL
Mix between legal and social
Factors that define what is considered ethical and what is not, based on laws and culture
Age of adulthood
Corruption and power
Advertising
Data mining and privacy
Labor laws and job health