STEEP Analysis

STE form of STEEP analysis, often called PEST or PESTEL, is a strategic tool used to evaluate the external environment affecting an organization. It considers six key areas: Social (societal trends and demographics), Technological (tech innovations), Economic (economic conditions), Environmental (environmental issues), Political (government policies), and Legal (laws and regulations). By analyzing these factors, businesses can identify opportunities and risks in the external landscape, helping them make informed decisions and develop strategies that are responsive to future changes.