Senior Business STEEPLE ANALYSIS This is about analysing the big picture. A framework for analysis of Social, Technological, Economic, Environmental, Political, Legal, and Ethical factors affecting an organisation or industry. Why bother?It helps the business identify opportunities and threats, anticipate changes, and make informed decisions. SOCIAL Analyses societal trends, demographics, lifestyles, and cultural factors that impact business operations and opportunities. Population growth and age distribution Education and income levels Cultural and lifestyle preferences Work-life balance trends TECHNOLOGICAL Analyses current and emerging technologies, innovations, and infrastructure that impact business operations and opportunities. Adoption of new technologies (e.g., AI, IoT) Industry-specific innovation (e.g., electric vehicles) Infrastructure development (e.g., 5G networks) Digital transformation and cybersecurity ECONOMIC Analyses market trends, trade policies, and financial markets to gauge financial opportunities and risks. Growth and inflation rates Employment and consumer spending trends International trade environment Market competitiveness and barriers to entry ENVIRONMENTAL Analyses ecological concerns such as climate change, sustainability, and resource availability that impact business operations and opportunities. Climate change impacts and responses Resource management (e.g., energy, water, materials) Waste management Compliance with environmental regulations POLITICAL Analyses government policies including international relations that impact business operations and opportunities. Stability and political climate in operating regions Government policies affecting the industry International relations and risks Government partnerships and collaborations LEGAL Analyses legislation, regulations, and legal frameworks that govern business activities to ensure compliance. Workplace legislation including safety regulations Intellectual property protection – trademarks and patents Privacy and consumer protection legislation Industry-specific regulations and standards ETHICAL Analyses ethical considerations such as corporate responsibility, social impact of industry, how reputation is being managed. Corporate social responsibility initiatives Supply chain transparency Ethical sourcing of materials Diversity and inclusion practices Community engagement Scotty’s STEEPLE Analysis for Australian tech start-up TIP: Remember to include references in your analytical tools. It’s important to know the source of the information.