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External Environment： STEEPLE - Coggle Diagram
External Environment： STEEPLE
Technological
increases the speed of communication, product
development and production.
Cost
Capital cost may be substantial and redundancy costs may be
incurred by laying of existing workers. However, it may lead
to higher profit in the future.
Labour
Worker layoff will lead to lower motivation among remaining
workers for job insecurity.
Management
The use of database programs to control stock ordering
to achieve just-in-time advantages
○ Data can be analyzed quickly for managers to make
decisions
○ Faster communication between managers and staff
Economics
Economic growth / Recession
Unemployment
Inflation (cosh-push and demand-pull
Exchange Rate
Environmental
Political
Legal
Legal environment
❖ Judicial system
❖ Consumer protection
❖ Regulations / Laws
❖ Eg: employment law, copyright law,
trade unions, discrimination law,
competition law, environmental
protection law, etc.
Political
taxation
➢ Government expenditure
➢ Stability (leadership)
➢ Corruption
➢ Policies
➢ Freedom of expression
Social
Trends/fashion/lifestyle changes
Attitudes and Culture
Language
Demography / Age distribution
Education
Health and welfare