Practice Flashcards
STEEPLE helps anticipate ___ in the external environment
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All Flashcards in Topic 6.3
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6.3.125 cards
STEEPLE helps anticipate ___ in the external environment
Changes — both opportunities and threats before they become problems.
Changes
University STEEPLE: Social = ___
Changing student demographics (more mature students, international demand).
Student demographics
STEEPLE = seven ___ factors
External — Social, Technological, Economic, Environmental, Political, Legal, Ethical.
External
S = Social means ___
Changing demographics, lifestyles, attitudes, health trends, ageing populations.
Demographics + lifestyles
What does STEEPLE stand for?
Social, Technological, Economic, Environmental, Political, Legal, Ethical — seven external factors.
S-T-E-E-P-L-E
Car manufacturer STEEPLE: Technological = ___
Electric vehicles, autonomous driving — must adapt or lose competitiveness.
EVs + autonomous
STEEPLE supports ___ planning
Strategic — preparing for opportunities and threats over the long term.
Strategic
Links to ___ and ___ in SWOT
Opportunities and Threats.
O + T
T = Technological means ___
New tech, automation, AI, e-commerce, social media, digital disruption.
Tech + AI + digital
All STEEPLE factors are ___
External — things the business cannot control but must respond to.
External + uncontrollable
Fast food STEEPLE: Social = ___
Health-conscious consumers — demand for healthier menu options.
Health trends
STEEPLE helps businesses ___
Identify external factors that affect decisions — scan the environment for opportunities and threats.
Scan environment
E = Economic means ___
Interest rates, inflation, recession, exchange rates, unemployment, growth.
Rates, inflation, recession
STEEPLE factors feed into SWOT's ___ and ___
Opportunities and Threats — use them together for stronger answers.
O + T
Always apply to the ___
Specific business — don't just list generic factors.
Specific business
Don't just list factors — always explain ___
HOW each factor affects the specific business in the case study.
How it affects THIS business
STEEPLE links to which part of SWOT?
Opportunities and Threats — STEEPLE factors feed into the O and T of SWOT.
O + T of SWOT
STEEPLE identifies ___ before they become problems
Risks — early warning system for external changes.
Risks
Quick: Economic factors include ___
Interest rates, inflation, recession, exchange rates, unemployment.
Rates, inflation, recession
E = Environmental means ___
Climate change, pollution, sustainability pressure, natural disasters, resource scarcity.
Climate + sustainability
Use STEEPLE and SWOT ___ for stronger answers
Together — STEEPLE feeds into SWOT's external factors.
Together
P = Political, L = Legal, E = Ethical?
Political: gov stability, trade, tax. Legal: employment law, data protection. Ethical: fair trade, CSR, working conditions.
Gov + law + ethics
Generic STEEPLE answers score ___
Low — always apply to the specific business.
Low
Quick mnemonic for STEEPLE?
'Seven Tricky External Elements Pushing Limits Everywhere'
STEEPLE mnemonic
Quick: Legal factors include ___
Employment law, health/safety, consumer protection, data protection.
Laws + regulations
6.3.220 cards
STEEPLE + SWOT: factors feed into ___
Opportunities and Threats in SWOT.
O + T
Formula for a strong STEEPLE answer?
Name the factor → Describe the specific issue → Explain impact on THIS business.
Name → Describe → Impact
You don't need all seven — pick the most ___
Relevant factors to the business in the case study.
Relevant
Name → describe → explain ___ on THIS business
Impact — the three-step formula for STEEPLE answers.
Impact
Example: 'Economic' → 'rising inflation' → ___
'Increases cost of materials, squeezing profit margins for this manufacturer.'
Impact on margins
Choose most relevant factors, not all ___
Seven — depth matters more than breadth.
Seven
Two well-explained factors beat ___
Seven vaguely mentioned ones — depth over breadth.
Seven vague ones
STEEPLE + Ansoff: external factors affect which ___ is feasible
Growth strategy — e.g. political instability may rule out market development abroad.
Growth strategy
STEEPLE + marketing mix: external changes may force ___
Changes to the 7 Ps — e.g. new technology changes promotion methods.
Changes to Ps
Expansion abroad → think about ___ and ___ factors
Political and legal — government policies, regulations, trade barriers.
Political + legal
Generic answers score low because ___
They don't show understanding of how the factor affects the specific business.
No specific connection
Combine STEEPLE with SWOT, Ansoff, ___
Marketing mix and financial data for stronger answers.
Marketing mix
Cost pressures → think about ___ factors
Economic — inflation, interest rates, exchange rates.
Economic
Two well-explained > ___ vague ones
Seven.
Seven
When asked to 'outline two STEEPLE factors', you must ___
Name, describe and explain impact — not just list the letters.
Name + describe + impact
STEEPLE is rarely used alone — combine with ___
Other tools for the strongest exam answers.
Other tools
STEEPLE + location: ___ and ___ factors affect where to locate
Political and economic — tax, regulations, labour costs.
Political + economic
Reputation issues → think about ___ factors
Ethical — fair trade, CSR, environmental responsibility.
Ethical
Connect theory to the ___
Case study — always refer to the specific business scenario.
Case study
Quick: Use case study to guide your choice of ___
STEEPLE factors — which external issues are mentioned or implied?
Factors
Topic 6.3 study notes
Full notes & explanations for STEEPLE analysis
BM exam skills
Paper structures, command terms & tips
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