STEEPLE Analysis In A Nutshell

steeple-analysis

The STEEPLE analysis is a variation of the STEEP analysis. Where the step analysis comprises socio-cultural, technological, economic, environmental/ecological, and political factors as the base of the analysis. The STEEPLE analysis adds other two factors such as Legal and Ethical.

Understanding the STEEP Analysissteep-analysisThe STEEP analysis is a tool used to map the external factors that impact an organization. STEEP stands for the five key areas on which the analysis focuses: socio-cultural, technological, economic, environmental/ecological, and political. Usually, the STEEP analysis is complementary or alternative to other methods such as SWOT or PESTEL analyses.

In addition, to the five factors comprised in the STEEP Analysis, the STEEPLE analysis comprises:

L standing for Legal: What government laws will impact the way of doing business? E standing for Ethical: Based on the current context and landscape what is perceived contextually to be good and bad as a business? STEEPLE vs. SWOT vs. PESTEL

The STEEPLE analysis is a more comprehensive way to look at the current business context, compared to other frameworks such as SWOT and PESTEL.

swot-analysisA SWOT Analysis is a framework used for evaluating the business’s Strengths, Weaknesses, Opportunities, and Threats. It can aid in identifying the problematic areas of your business so that you can maximize your opportunities. It will also alert you to the challenges your organization might face in the future.pestel-analysisThe PESTEL analysis is a framework that can help marketers assess whether macro-economic factors are affecting an organization. This is a critical step that helps organizations identify potential threats and weaknesses that can be used in other frameworks such as SWOT or to gain a broader and better understanding of the overall marketing environment.

Read Next: SWOT AnalysisPersonal SWOT AnalysisTOWS MatrixPESTEL AnalysisPorter’s Five ForcesTOWS MatrixSOAR Analysis.

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Published on March 12, 2021 03:56
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