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2024 STEEPLE Analysis Update

STEEPLE analysis, an extension of the traditional PEST and PESTLE analyses, assesses the external factors that can influence an organisation or industry. It stands for Social, Technological, Economic, Environmental, Political, Legal, and Ethical factors. In 2024, the landscape has evolved significantly, with emerging trends and challenges reshaping each facet. Below are the key factors relevant in 2024, organised by STEEPLE factor, along with frequently asked questions (FAQs) and their answers:

The top STEEPLE factors, with FAQs, for 2024

Top Social Factors

1. The Digital Divide

What is The Digital Divide?

The digital divide refers to the gap between those who have access to modern information and communication technologies (ICTs) and those who don’t.

How does The Digital Divide impact businesses?

Businesses must consider the varying levels of digital access among their target audience when designing products, services, and marketing strategies.

2. Health and Wellness Trends

What are the top health and wellness trends to watch in 2024?

Trends include increased interest in mental health, plant-based diets, and fitness technologies like wearables.

How can businesses make the most of health and wellness trends in 2024?

Businesses can develop products and services aligned with health-conscious consumer preferences, such as offering wellness programs or incorporating eco-friendly practices.

Top Technological Factors

1. Artificial Intelligence (AI) Integration

How is AI being integrated into industries?

AI is increasingly used for automation, predictive analytics, and personalised customer experiences across various sectors.

What are the ethical considerations with AI?

Ethical concerns include biases in AI algorithms, data privacy issues, and potential job displacement.

2. 5G Technology

What is 5G technology?

5G is the fifth generation of wireless technology, offering faster speeds, lower latency, and increased connectivity.

How does 5G impact businesses?

It enables innovations such as IoT devices, augmented reality (AR), and real-time data analytics, transforming industries like healthcare, manufacturing, and transportation.

Top Economic Factors

3. Supply Chain Disruptions

What causes supply chain disruptions?

Disruptions can result from natural disasters, geopolitical tensions, or global crises like the COVID-19 pandemic.

How can businesses mitigate supply chain risks?

Diversifying suppliers, investing in digital supply chain technologies, and adopting agile strategies can enhance resilience.

4. Rise of the Gig Economy

What is the gig economy?

The gig economy refers to a labor market characterized by short-term contracts and freelance work, often facilitated by digital platforms.

How does it impact traditional employment models?

It offers flexibility to workers but raises concerns about job security, benefits, and labor rights.

Top Environmental Factors

1. Climate Change Regulations

Why are climate change regulations important?

Regulations aim to mitigate greenhouse gas emissions, promote sustainable practices, and adapt to climate-related risks.

How do businesses comply with regulations?

Businesses can reduce emissions, adopt renewable energy sources, and implement eco-friendly policies and technologies.

2. Circular Economy Practices

What is a circular economy?

A circular economy aims to minimize waste and resource depletion by promoting reuse, recycling, and product longevity.

How can businesses move to a circular economy model?

Strategies include redesigning products for durability, implementing take-back programs, and fostering partnerships for resource sharing.

Top Political Factors

1. Trade Policies and Tariffs

How do trade policies affect businesses?

Policies like tariffs and trade agreements can impact costs, supply chains, and market access for businesses operating internationally.

How can businesses adapt to changing trade dynamics?

Businesses can diversify their markets, monitor policy changes, and advocate for favorable trade conditions.

2. Geo-political Tensions

What are examples of geopolitical tensions impacting businesses?

Tensions between nations can lead to trade restrictions, cybersecurity threats, and disruptions in supply chains.

How can businesses navigate geopolitical risks?

Businesses can conduct risk assessments, diversify operations, and establish contingency plans to mitigate the impact of geopolitical uncertainties.

Legal Factors

1. Data Privacy Regulations

Why are data privacy regulations important?

Regulations protect individuals’ personal data from misuse, ensuring transparency and accountability in data processing.

How do businesses ensure compliance with data privacy laws?

Businesses must implement robust data protection measures, obtain consent for data collection, and provide clear privacy policies.

2. Employment Laws and Regulations

What do Employment laws encompass?

Employment laws govern aspects such as minimum wage, working hours, workplace safety, and employee rights.

How can businesses stay compliant with labor regulations?

Businesses should stay informed about labor laws, prioritise employee welfare, and establish fair employment practices.

Ethical Factors

1. Corporate Social Responsibility (CSR)

What is corporate social responsibility (CSR)?

CSR refers to a company’s commitment to conducting business in an ethical and sustainable manner, considering its impact on society, the environment, and stakeholders.

Why is CSR important?

CSR enhances reputation, fosters trust with stakeholders, attracts socially conscious consumers, and contributes to long-term business sustainability.

2. Ethical Supply Chain Practices

What are ethical supply chain practices?

Ethical supply chain practices ensure fair labor conditions, environmental sustainability, and respect for human rights throughout the supply chain.

Why are ethical supply chain practices important?

They mitigate risks associated with labor violations, environmental damage, and reputational harm, while also aligning with consumer preferences for ethically sourced products.

3. Diversity and Inclusion Policies

What are diversity and inclusion policies?

These policies promote a diverse workforce and an inclusive workplace culture that values differences in gender, race, ethnicity, sexual orientation, and other characteristics.

Why are diversity and inclusion important for businesses?

Diversity and inclusion foster innovation, improve decision-making, enhance employee morale and productivity, and cater to diverse customer demographics.

4. Ethical Marketing Practices

What are ethical marketing practices?

Ethical marketing practices involve transparent and truthful communication, respect for consumer privacy, and avoidance of deceptive or manipulative tactics.

Why are ethical marketing practices important?

Ethical marketing builds trust and credibility with consumers, strengthens brand reputation, and fosters long-term customer loyalty.

5. Fair Trade and Ethical Sourcing

What is fair trade and ethical sourcing

Fair trade ensures producers in developing countries receive fair compensation and adhere to social and environmental standards, while ethical sourcing prioritizes suppliers that uphold ethical labor and environmental practices.

Why is fair trade and ethical sourcing important?

They promote social justice, support sustainable livelihoods for producers, and address concerns about exploitative labor and environmental degradation in global supply chains.

2024 STEEPLE Analysis – Summary

The above factors and FAQs are important areas in 2024. However, you should always consider the other areas that are consistent throughout the years.

Save time: use our STEEPLE Cheat Sheet powerpoint template

Use this template to provide the full list of STEEPLE factors, as well as the top factors in 2024.

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PESTLE Updated for 2022

In 2022, entrepreneurs launching new products and services must consider the new ecosystem of Political, Economic, Social, Technological, Legal, and Environmental factors.

See our updated PESTLE for 2023 post here.

PESTLE is a well-known analysis tool in the business world. It was developed in 1988 to help people assess external factors that could affect their business, and has been updated every few years since then. This blog post will show you how to use PESTLE for 2022 – new tips and techniques that are essential for success!

Some PESTLE basics

What does PESTLE mean?

P is for Political.
E is for Economic.
S is for Socioeconomic.
T is for Technological.
L is for Legal.
E is for Environmental.

How do I present a PESTLE analysis?

Prioritize the factors that you unearth in each PESTLE category. Select the factors that will:
a) have the most profound effect in steering the direction of your business.
b) require opportunity investment or risk mitigation.

How do I create a PESTLE Analysis?

There are a variety of formats: Cheat sheets, matrices, backlogs, and more. You can see a variety of PESTLE formats here.

Why does PESTLE need to change in 2022?

The world is still recovering from the effects of the pandemic. The United States has been able to regain its footing, but other countries are still struggling with food shortages and political unrest. Despite these issues, though, there are ways that businesses can take advantage of opportunities in their environment for success! This guide will update you on what’s changed since 2019 – how PESTLE analysis needs to be different now than it was then – as well as provide new tips and techniques for conducting a successful PESTLE Analysis.

Top PESTLE Factors in 2022

What are the important PESTLE factors to watch in 2022?

1. Political: Increasing international tensions; Increased polarization on all topics.
2. Economic: The effect of de-centralized currencies (crypto); Green tech pressures.
3. Socioeconomic: Personal space issues; Transport preferences; Working preferences; Gaming
4. Technological: Remote working tech; Crypto tech;
5. Environmental: Green concerns;
6. Legal: Changing legislation around health status;
7. Ethical: Rising unrest around equality; Rising unrest around Liberty;

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Supplier Management; A change of perspective

Supplier Management is a tricky business; you often have a complex array of commodities or services being provided by an selection of different companies.

And just to make life just that little bit more difficult, it’s rare that each supplier acts in isolation. More often than not a part of what one supplier delivers (or not!) will directly impact a part of what another supplier delivers and the knock-on goes down the chain.

In a service delivery environment these impacts or difficulties can be exaggerated because any process in place won’t follow a nice linear manufacturer line but has the variable of a customer and choice to accommodate.

What works well – managing by commodity

What we have seen in a diverse service related supply chain is that Subject Matter Experts (SMEs) control the suppliers and therefore the commodity in isolation. There is a lot of sense behind this as the SME understands;

  • The market place
  • The commodity
  • What good looks like

The end result is often that each supplier or commodity is generally well managed and the three key pillars of measurement (cost, time and quality) are where they need to be or within an acceptable tolerance. The “horizontal” management which is most common place certainly has merit.

What about the vertical?
What about the vertical?

What does not work quite so well – the wider view

However, the business in which the supply chain fits is rarely run on commodity lines; there is a wider strategy, vision and set of goals which the supply chain will contribute towards.

Let’s take a theoretical example. The board of your company has received consistent feedback that whilst their offering is considered to be at a good price point, customer complaints are escalating and the service rating has never been lower. Strategic change has been required therefore to improve quality across all areas and it is accepted that this might have a small cost increase. Because the business has been slow to effect change in the past, there is now a big pressure push from the top to see action.

As Head of Supplier Management you gather your team to explain the revised focus.

  • You review the complete supply chain metrics looking specifically at the service performance
  • Each supplier has been consistently outside target, but only by a relatively small margin
  • In isolation and viewed in a silo of single supplier activity this service drift was noted but not deemed worthy of a bigger set of actions
  • As a combination though, the service failure looms a lot larger

Next actions look something like this

  • Each SME is now tasked on service over cost
  • Each will pull a set of meetings to relay this to each supplier they deal with
  • Each will tell you why something can be done but maybe not as you outlined because of “unique conditions to my commodity”
  • Some will increase prices and ask for a service improvement with very marginal improvements

And so on, and so on.

How to include a wider and future focussed perspective

So in addition to managing by commodity it is as important to view the complete supply chain output through the same measures and lens as that of the wider business.

Also it’s worth thinking more about HOW the supply chain is measured.

Performance targets and Management Information (MI) are vital barometers of how the supply chain is or was fairing; with as long as a month’s delay in receiving MI it is often a snapshot of the past. By reviewing the supply chain output as a future focussed risk assessment proactive measures or at least plans of actions can be formed at a far earlier stage.

Any templates that could do this for me?

Are there any templates that can do this for me?

This Supplier Dashboard and Log does a great job – it is tried and tested!

Supplier Risk and Performance Dashboard Template (POCCET)
Supplier Risk and Performance Dashboard Template (POCCET)
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How to look good at work (from a business rather than image perspective!)

We have been on some management courses over the last few months and having let the dust settle (thus avoiding the immediate post course evangelicalism which irks even the most tolerant mind) we have come to the conclusion that we have actually learnt a great deal and that it is relevant. And useful. And in some cases actually surprising!

1. Niche is good, no matter what your niche is. So long as there is a market.

Progressive Corp is an insurance company which focusses on all the types of people the other firms avoid like the plague.

So, know your market. REALLY know your market and show that you know it through market analysis tools. Such as Porters Five Forces or PEST.

2.  Synergies are not always actually a good idea. Most companies have traditionally thought they are, but the world has changed.

It is more demanding and quite simply it is a tough market out there; focus on what you are good at, world class at, and do it.

This means that backwards or reverse integration is not the answer. Outsourcing is. Unless you are world class at it. (You get the gist). Japanese car manufacturers realised very early on that they were not as good as the electronic companies at making stereos, so they did not try and complete, they just struck up a deal. Get good at finding who in the market can deliver what you need for you, via procurement channels. Or have a look here.

3. IGNORE your customer.  Yep, you read that right. Ignore them. Not on everything, of course, answer the phone, respond to e-mail and help them.

But think what would have happened if Steve Jobs had asked the mobile phone using public what they wanted from a phone and then given it to them? It would not have been anywhere near the i-phone by a long, long way. He didn’t ask, he gave them something they hadn’t even dreamed of yet.

4. Customise your output in what ever you do. Make it fit the needs of what you are doing not the other way around.

These are the highlights, there was a lot more!

If anything has struck you, contact us. If point 4 has struck a chord and you want to talk about how our content could be modified to fit your needs, PLEASE contact us. We shan’t follow our own advice concerning point 3!

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SWOT Analyse – Simple Idiots Guide: Templates, Examples & Help

The SWOT Action Plan Process

We can help you SWOT Analyse your project or your idea. Here are some simple templates and guides to help you with SWOT, with examples.

SWOT Matrix template: Strengths, Weaknesses, Opportunities, Threats
The SWOT Analyse Template Pack

SWOT is part of Management Jargon, but is pretty useful for fast assessment of lots of ideas.

What EXACTLY Does SWOT Analyse Mean?

S.W.O.T. stands for:

  1. Strengths – What things are GOOD?
  2. Weaknesses – …and what things are BAD?
  3. Opportunities – Does it open up areas which are GOOD?
  4. Threats – Are there things that MESS IT UP?

SWOT Cheat Sheet

Here are some prompts for your SWOT, so that you can make it complete:


  • Patents?
  • Strong brand name?
  • Good reputation among customers?
  • Many product lines?
  • Broad market coverage?
  • Manufacturing competence?
  • Good marketing skills?
  • Good materials management systems?
  • R&D skills and leadership?
  • Information system competencies
  • .. more available from our SWOT analysis template discount bundle


  • Obsolete, narrow product lines?
  • Rising manufacturing costs?
  • Decline in R&D innovations?
  • Poor marketing skills?
  • Old content management systems?
  • Poor reputation?
  • High cost structure?
  • Loss of customer good will?
  • Bad information systems?
  • Inadequate human resources?
  • Lack of access to distribution channels?
  • .. more available from our SWOT analysis template discount bundle


  • Expand core business(es)?
  • Exploit new market segments?
  • Arrival of new technologies?
  • Removal of international trade barriers?
  • Exploit unfulfilled customer need?
  • Widen new market segments?
  • Extend cost or differentiation advantage?
  • Diversify into new growth businesses?
  • … more available from our SWOT analysis template discount bundle


  • Attacks on your core business(es)?
  • Increases in domestic competition?
  • Shift in consumer tastes?
  • Emergence of substitute products?
  • New regulations?
  • Increased trade barriers?
  • Increases in foreign competition?
  • Change in consumer taste?
  • Fall in barriers to entry?
  • Rise in new or substitute products?
  • … more available in our SWOT analysis template discount bundle

Get a bundle of templates to help

SWOT Template Discount Bundle
SWOT Analyse Template Discount Bundle