The External Environment Understand tools STEEPLE to analyse

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The External Environment Understand tools (STEEPLE) to analyse a business’ external pressures Apply (STEEPLE)

The External Environment Understand tools (STEEPLE) to analyse a business’ external pressures Apply (STEEPLE) to a large organisation

The External Environment refers to those influences outside a business control. Business managers have

The External Environment refers to those influences outside a business control. Business managers have to be aware of changes to the external environment and adapt. Poor adaptation leads to unsustainability (the ability to maintain levels of activity) and poor decision making.

External Analytical Tools – STEEPLE ANALYSIS SOCIETAL TECHNOLOGICAL ENVIRONMENTAL ETHICAL POLITICAL LEGAL ECONOMIC

External Analytical Tools – STEEPLE ANALYSIS SOCIETAL TECHNOLOGICAL ENVIRONMENTAL ETHICAL POLITICAL LEGAL ECONOMIC

Carrying out a STEEPLE analysis Collecting and applying information Describing each external factor from

Carrying out a STEEPLE analysis Collecting and applying information Describing each external factor from the point of view of the business Describe the impact each factor has on the STRATEGIC OBJECTIVES Describing the positive or negative impact upon the business operations Identifying appropriate business responses the each external factor

Collecting Information - sources Internet Industry and employer associations / Trade Unions Govt. statistics

Collecting Information - sources Internet Industry and employer associations / Trade Unions Govt. statistics and reports News stories / articles Customer and supplier feedback Management insights, knowledge & experience

Impacts on Business Strategic Objectives – Operations Profits / sustainability Profit levels Return on

Impacts on Business Strategic Objectives – Operations Profits / sustainability Profit levels Return on investment Market Share – no. customers Cash flow – availability of cash to pay expenses Sales revenues Impacts upon the different departments Sales HR Production Marketing Finance

Recap…. . https: //www. youtube. com/watch? v=DJRx 9 Pm. B 3 VM

Recap…. . https: //www. youtube. com/watch? v=DJRx 9 Pm. B 3 VM

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