The SLEPT / STEEP / STEEPLE framework is a comprehensive tool used to assess the external factors that could impact an organization's performance. It stands for Social, Legal, Economic, Political, Technological, Environmental, and Ethical factors. Businesses use this framework to identify potential opportunities and threats in their external environment, enabling them to strategize effectively and mitigate risks. The inclusion of environmental and ethical factors in STEEPLE makes it particularly relevant in today's sustainability-focused business landscape.
Identify the relevant factors: Social, Legal, Economic, Political, Technological, Environmental, and Ethical. | Analyze how each factor currently affects the organization and how it might do so in the future. | Evaluate the impact of these factors on the organization's strategic decisions and operations. | Develop strategies to leverage opportunities and mitigate threats identified during the analysis.
Regularly update the analysis to reflect changes in the external environment. | Combine with internal analysis tools like SWOT for a balanced strategic view. | Engage stakeholders from various departments for a holistic analysis.
Provides a comprehensive overview of the external environment. | Helps in proactive risk management and strategic planning. | Enhances understanding of potential impacts from various external factors.
Can be time-consuming to gather accurate data for all factors. | May lead to analysis paralysis if too much information is considered. | External focus might overlook internal capabilities and resources.
When entering a new market or launching a new product. | During the strategic planning process.
When the organization requires immediate, tactical decisions. | In highly stable environments with little external change.