What is environmental analysis in simple words? Learn about its different types and get an idea of how you can conduct this type of business analysis.
STEP analysis is a strategic method corporations use to understand four major external environmental factors of the business landscape.
STEEPLED analysis explains how eight specific macro-environmental factors can influence a product, brand, business, or location.
Best analytical tools for Business Analysis include SWOT, PEST, MOST, Heptalysis, de Bono’s Six Thinking Hats, CATWOE, Five Whys, MoSCoW, SCRS and VPEC-T.
Beginning by performing a SWOT analysis, business owners can learn more about the firm’s external factors by doing PEST, STEEP and STEEPLE analysis.
The STEEPLE analysis of Samsung focuses on five factors: Social, Technological, Economic, Environmental, Political, Legal, and Ethical.
Explore how STEEPLE analysis is different from STEEP analysis. In the end, you will have to find answers to two more questions during the business analysis.