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A STEEP analysis is a tool to evaluate various external factors impacting a business or organization. STEEP is an acronym for Social, Technological, Economic, Environmental, Political.

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16y ago

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What does the verb steep mean?

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That was a very steep hill!


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How does STEEP analysis aid in the development of the strategy in a company?

STEEP analysis, which examines Social, Technological, Economic, Environmental, and Political factors, helps companies identify external influences that can impact their strategy. By systematically analyzing these dimensions, organizations can anticipate market trends, assess risks, and uncover opportunities for innovation. This comprehensive understanding enables informed decision-making, aligning the company's strategic goals with the dynamic external environment. Ultimately, it supports the formulation of robust strategies that enhance competitiveness and resilience.