Discover the STEEPLE Analysis Template, a comprehensive strategy for scrutinizing various business factors, formulating strategies, and evaluating their effectiveness.
1
Identify the Scope and Objectives of the Analysis
2
Gather Internal Data Relevant to the Analysis
3
Research External Information Relevant to the Analysis
4
Compile Sociocultural Data
5
Gather Technological Factors Data
6
Compile Economic Data
7
Gather Information on Environmental Factors
8
Understand Political Factors Influencing the Business
9
Identify Ethical Factors Impacting the Business
10
Understand Legal Factors Influencing the Business
11
Compile and Analyze Collected Data
12
Identify Strengths and Opportunities of the Business
13
Identify Threats and Weaknesses of the Business
14
Formulate Strategic Plan Based on the Analysis Results
15
Formulate Contingency Plans
16
Approval: Strategic Plan and Contingency Plans
17
Implement Strategic Plan
18
Monitor and Adjust Strategic Plan as Necessary
19
Evaluate the Effectiveness of the Implemented Plan
20
Prepare and Deliver Detailed Report
Identify the Scope and Objectives of the Analysis
In this task, you will determine the scope and objectives of the STEEPLE analysis. Define the boundaries and areas of focus for the analysis. Specify the goals and expected outcomes. Consider the impact of the analysis on the overall strategic planning process and decision-making.
Gather Internal Data Relevant to the Analysis
In this task, you will collect internal data that is relevant to the STEEPLE analysis. Identify the necessary information sources within the organization. Determine the data collection methods and tools. Consider potential challenges and how to overcome them.
1
Financial statements
2
Employee surveys
3
Sales data
1
Interviews
2
Surveys
3
Observation
Research External Information Relevant to the Analysis
In this task, you will gather external information that is relevant to the STEEPLE analysis. Identify the external sources of data and information. Decide on the research methods to be used. Consider the availability and reliability of the data.
1
Industry reports
2
Market research studies
3
Government publications
1
Desk research
2
Field research
3
Data analysis
Compile Sociocultural Data
In this task, you will compile sociocultural data for the STEEPLE analysis. Gather information about social and cultural factors that may impact the organization. Analyze demographic, lifestyle, and cultural trends. Consider the implications of these factors for the business.
1
Demographics
2
Social values
3
Cultural norms
Gather Technological Factors Data
In this task, you will collect technological factors data for the STEEPLE analysis. Identify the relevant technological trends and developments. Assess the impact of technology on the business operations and industry. Consider potential risks and opportunities.
1
Innovation
2
Digitalization
3
Automation
Compile Economic Data
In this task, you will compile economic data for the STEEPLE analysis. Gather information about economic indicators, such as GDP, inflation, and interest rates. Assess the current and future economic conditions. Analyze the potential effects on the organization's financial performance.
1
GDP
2
Inflation rate
3
Unemployment rate
Gather Information on Environmental Factors
In this task, you will gather information on environmental factors for the STEEPLE analysis. Identify and analyze the environmental trends and regulations relevant to the business. Consider the impact of environmental factors on the organization's operations and reputation.
1
Climate change
2
Sustainability practices
3
Environmental laws
Understand Political Factors Influencing the Business
In this task, you will understand the political factors influencing the business for the STEEPLE analysis. Research and analyze the political environment, including government policies, regulations, and stability. Assess the potential impact of political factors on the organization's operations and decision-making.
1
Government policies
2
Political stability
3
Regulatory environment
Identify Ethical Factors Impacting the Business
In this task, you will identify ethical factors impacting the business for the STEEPLE analysis. Analyze the ethical implications of the organization's actions and decisions. Consider the ethical standards and values relevant to the industry and stakeholders. Assess the potential consequences of ethical lapses.
1
Corporate social responsibility
2
Ethical decision-making
3
Stakeholder engagement
Understand Legal Factors Influencing the Business
In this task, you will understand the legal factors influencing the business for the STEEPLE analysis. Research and analyze the relevant laws, regulations, and legal frameworks. Assess the legal risks and compliance requirements. Consider the potential legal implications for the organization.
1
Contract laws
2
Employment laws
3
Intellectual property laws
Compile and Analyze Collected Data
In this task, you will compile and analyze the data collected for the STEEPLE analysis. Consolidate the data from various sources. Apply appropriate data analysis methods and techniques. Interpret and draw insights from the data.
1
Internal data
2
External data
3
Secondary research
1
SWOT analysis
2
Statistical analysis
3
Content analysis
Identify Strengths and Opportunities of the Business
In this task, you will identify the strengths and opportunities of the business based on the STEEPLE analysis. Evaluate the internal and external factors that contribute to the organization's success. Identify potential areas of growth and competitive advantages.
1
Strong brand reputation
2
Skilled workforce
3
Innovative product portfolio
1
Market expansion
2
New product development
3
Strategic partnerships
Identify Threats and Weaknesses of the Business
In this task, you will identify the threats and weaknesses of the business based on the STEEPLE analysis. Assess the internal and external factors that pose risks and challenges to the organization. Identify areas of improvement and vulnerabilities.
1
Outdated technology infrastructure
2
Limited market presence
3
Weak supply chain
1
Intense competition
2
Changing consumer preferences
3
Regulatory changes
Formulate Strategic Plan Based on the Analysis Results
In this task, you will formulate a strategic plan based on the analysis results. Define the strategic goals and objectives. Develop strategies to leverage strengths, capitalize on opportunities, address weaknesses, and mitigate threats. Align the strategic plan with the organization's mission and vision.
1
Market penetration
2
Product differentiation
3
Cost leadership
Formulate Contingency Plans
In this task, you will formulate contingency plans for potential risks and uncertainties identified in the STEEPLE analysis. Identify alternative courses of action in response to potential threats. Develop strategies to mitigate risks and ensure business continuity.
1
Natural disasters
2
Supply chain disruptions
3
Financial crises
Approval: Strategic Plan and Contingency Plans
Will be submitted for approval:
Formulate Strategic Plan Based on the Analysis Results
Will be submitted
Formulate Contingency Plans
Will be submitted
Implement Strategic Plan
In this task, you will implement the strategic plan developed based on the STEEPLE analysis. Assign responsibilities and tasks to relevant teams and individuals. Develop a timeline and action plan. Monitor and track progress towards the strategic goals.
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Marketing team
2
Operations team
3
Finance team
Monitor and Adjust Strategic Plan as Necessary
In this task, you will monitor and adjust the strategic plan as necessary. Establish performance metrics and indicators. Regularly review and evaluate progress towards the strategic goals. Identify areas for improvement and make necessary adjustments to the plan.
1
Sales revenue
2
Customer satisfaction
3
Employee productivity
Evaluate the Effectiveness of the Implemented Plan
In this task, you will evaluate the effectiveness of the implemented strategic plan. Assess the outcomes and results achieved. Compare them against the initial objectives. Identify strengths and weaknesses of the plan. Gather feedback from stakeholders.
Prepare and Deliver Detailed Report
In this task, you will prepare and deliver a detailed report summarizing the STEEPLE analysis and its findings. Document the key findings, insights, and recommendations. Structure the report in a logical and coherent manner. Present the report to relevant stakeholders.