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About the STEEPLE Analysis Tool

The STEEPLE analysis can be used by business to plan for a new innovation, strategising or in marketing. Analysing a business's external environment helps to manage risks.

The tool can be used for the business as a whole or a specific product/service offered by the business.

Sources of Information

Socio-cultural

  • Our social status significantly impacts our opportunities and access to resources. These aspects can include a society's/individual's: wealth, income, education, healthcare, social beliefs and lifestyle choices, buying/spending habits, leisure habits, social media consumption, engagement in cultural activities and level of global awareness/connection.

Sources of Information

  • News - access the school's subscription to Newsbank.
  • Social media accounts/influencers - TikTok, Instagram
  • Consider pop culture.
  • Does the business operate in an industry with an association?

The Australian Retail Association:  "As Australia’s peak retail body, representing more than 120,000 retail shop fronts and online stores, the ARA informs, advocates, educates, protects and unifies our independent, national and international retail community."

Meat and Livestock Australia: "MLA’s purpose is to foster the long-term prosperity of the Australian red meat and livestock industry by investing in research and marketing activities."

Australian Aviation: " Australian Aviation has been the trusted source of market intelligence and situational awareness for Australia’s aviation sector since 1977."

technological

Technology shapes the way we process information as well as impacting our consumption. Consumers now respond positively to instant responses. Businesses must be alert to new technologies, maintaining relevance and guarding against becoming obsolete. 

 

Sources of Information

economic

Consumer's spending habits and purchasing power are influenced by many factors. Economic factors such as interest rates, government fiscal policy, the unemployment rate, gross domestic product (GDP), and inflation are all examples of economic factors which can influence consumer and business confidence.

Sources of Information

Environmental

Environmental factors and sustainability practices impact businesses as well as influence consumer decision making. Businesses are judged on their care and use of natural resources and must balance these needs and expectations (sometimes these expectations are legislated) with the efficient and effective operation of their business.

Sources of Information

Specific Organisations

Political

Political parties forming government at each level in Australia (Federal, State and Local) have the capacity to enact legislation which aligns with the political ideology. At times, these principles can align and at other times they may run counter to business/consumer interests.

 

Sources of Information

Federal | State | Local Governmet/Opposition

Other Federal Political Parties

Legal

Legislation exists at every level of government. This legislation can impact the performance, success and operation of businesses as well as alter the economic environment in which consumers operate. The Legal environment of a country is closely aligned to the political parties in government.

 

Sources of Information

Ethical

Although businesses may be acting within the boundaries of the law, they may be criticised for being unethical. Ethical practices are underpinned by the belief that the practice does not disadvantage anyone or anything. Ethics include the concepts of integrity, morality, duty, and what is right and wrong.

Sources of Information

Industry Specific Ethical Issues