11. Macroenvironmental (STEEP/PEST) Analysis
Description and Purpose
This chapter focuses on the social, technological, economic, ecological, and political/legal (STEEP) aspects of the environment that can affect the competitiveness of industries and companies. STEEP has long been a focal point of environmental scanning and monitoring activity in most organizations. These factors generally are considered to be beyond the direct influence of an individual company.
This method is also sometimes called political, economic, social, and technological (PEST) analysis. For the purposes of this chapter, and for ease of understanding, we will call this technique STEEP, although you can simplify the technique to PEST factors.
Although many organizations ...