STEEPLE Analysis

External environment of business

Social environment

• demographics
• culture and tradition
• different social strata

Technological

• scientific temparament
• companies using technology
• use of technology by the population

Ethical

• absence/presence of corruption
• trust in business relations
• socially responsible businesses
• prevalance of social audit
• fair trade

Environmental

• high/low compliance costs
• weather conditions
• business attitude towards environment protection- circular economies
• environmental protection policies and law

Economical

• unemployment in the economy
• inflation
• GDP
• exchange rate

political

• political stability
• government approach to market
• Ease of doing business
• taxation & government expenditure
• interest rates
• political corruption

Legal

• application of laws
• time taken to settle disputes
• legislation concerning consumer protection, competition , employee protection etc.
• ease of doing business

news headlines

• The Cabinet chaired by Prime Minister approved the increase in Minimum support price (MSP) ranging from 6 per cent to 10 per cent for farmers
• Under the European model, for instance, the regulatory framework has sought to classify artificial intelligence systems according to the risk they pose.
• Indian Space Research Organisation (ISRO) is set to launch its spacecraft to study the Sun.

news headlines

• Since October last year, the government has been organising these fairs to fill up the 10 lakh existing vacancies in all types of government jobs
• Assam flood worsens as over 300,000 people affected in 21 districts
• President Droupadi Murmu greets citizens on eve of Raksha Bandhan
• Subsidised meal initiative at Jammu's GMC hospital garners huge response

news headlines

• Sri Lanka to import 92 mn eggs from India to stabilise local market prices
• Air pollution remains greatest global threat to human health: Study
• Union minister launches Toyota Innova MPV, world's first ethanol-fueled car

Homework

Quiz