STEP analysis is a strategic method corporations use to understand four major external environmental factors of the business landscape. The information derived from this analytical report helps the specific party to organize new internal decisions. More so, it allows decision-makers to focus on four of the most important factors that will influence business decisions, … [Read more...] about STEP Analysis: What it is and how to do it
STEEPLED analysis explains how eight specific macro-environmental factors can influence a product, brand, business, or location. It’s an acronym with each letter representing a different environmental influence: SocialTechnologicalEconomicEnvironmentalPoliticalLegalEthicalDemographics This analysis is similar to two other popular analyses: PEST and PESTLE analysis. … [Read more...] about STEEPLED Analysis: What is it with Examples
Business Analysis is a set of tasks and techniques used as a connection between stakeholders. These help them to understand the firm’s structure and policies. The process can also recommend solutions which help to attain business goals. In order to apply Business Analysis effectively, analysts employ different analytical tools. I will discuss all the tools that are commonly … [Read more...] about Best Analytical Tools for Business Analysis
Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm's … [Read more...] about What is Environmental Analysis?
When you run a business, making the most of it becomes the prime purpose of life. Both big and small business owners need to conduct various analyses. There are many methods, which help to conclude about the firm’s current state before taking an informed decision. SWOT analysis is perhaps the most commonly used technique. STEEP, STEEPLE, and PEST are also used by individuals … [Read more...] about Difference between SWOT, PEST, STEEP and STEEPLE Analysis
The STEEPLE analysis of the business environment of Samsung is part of the company’s strategic analysis for the medium and long term. The goal of this study is to assess the prospects of Samsung. Samsung is a global company in the consumer appliances and gadgets market. It started as a South Korean family-owned business but has earned acceptance around the globe now. Samsung … [Read more...] about STEEPLE Analysis of Samsung
STEEPLE analysis is a strategic planning tool. It can be helpful when planning strategic positioning. A SWOT Analysis is a popular alternative. STEEPLE is more advanced as it deals with macro-environmental external factors. How do you conduct a STEEPLE analysis? STEEPLE offers an overview of various external fields. It is an acronym for Social, Technological, Economic, … [Read more...] about How STEEP and STEEPLE Analysis Help in Business