How Steeple Analysis Evaluates External Business Environment

STEEPLE analysis considers various external factors that can influence business performance of a company. This tool is often used to identify those factors that can influence business or organization. There are seven areas that STEEPLE analysis takes into consideration.

Thus, STEEPLE analysis deals with political, economic, social, environmental, legal, ethical and technological factors that have both positive and negative impact on the company or entire industry.

Why is use of STEEPLE analysis recommended for businesses? This is a very good way of analyze and external environment in which the company is operating. Moreover, STEEPLE analysis can also offer suggestions on how to respond to challenges and solve problems, if any.

One of the most common mistakes in use of STEEPLE analysis is separate consideration of various factors. They are all interrelated and thus have to be analyzed in complex. Besides, one should come up with suggestions and answer the question What does it mean for my company? Response and counter actions are required.

Such factors can generally present strengths and weaknesses, threats and opportunities in various external environments every company is bound to operate in. This article will offer a short overview of the seven external factors that can influence business performance as well as focus on pros and cons of STEEPLE analysis.

Social factor often includes demographics, social and labor mobility, changes in lifestyle, balance of work and life, education and fashion, health and welfare, poverty levels, work security and living conditions, as well as income distribution. In other words, this is information related to social trends.

Technological factor studies new developments and discoveries, speed of technology transfer, use of energy, the impact of IT Technologies on business, Internet progress, spread of mobile technologies, average spend on IT etc. Every company should keep up with technological progress.

Economy is all important, especially for companies operating in the international market. This factor studies monetary policy, government spending, taxation issues, inflation, exchange rate, unemployment policy, general economic situation, customer expectations and purchasing power etc.

Environmental issues are very hot these days, as people came to understand they have to take proper care of nature. This factor addresses global warming, carbon emissions, climate change, environmental regulations and legislation, green agenda etc.

Politics is inseparable part of social processes. This factor studies political situation, results of elections and possible consequences for the business, governmental decisions on regulation of business relations etc. Very often political decisions are made to normalize economic situation in the country.

Every company is operating in a certain legislative system, and thus should comply with the applicable laws. Legal departments of companies must pay a special attention to corporate governance, and international trade regulations, legislation on competition and monopoly etc.

Ethical constituent is very important as well. Client confidentiality, business ethics and reputation are very important factors to consider.

Among key advantages of STEEPLE analysis are focus on external factors that influence company performance and ability to respond to certain challenges. Some business analysts claim that STEEPLE analysis only underlines something that is already known, and this viewpoint has also its supporters.

10 Steps to Getting Paid for Your Marketing Materials

How many times have you heard the same sound bites come out of your mouth to your clients, prospects, and audiences, almost boring yourself to tears in the process? Imagine generating money directly from those sound bites, from those pearls of wisdom that effortlessly trip off your tongue. Yes, it is completely possible, and heres how to do it.

1.Capture those tidbits of information as soon as they come to mind. Jot them down in a notebook or get them into a Word document. They can be in a raw format, with just enough information to jog your thinking about what you mean. There will be time to refine them later.

2.Let a couple weeks go by, allowing most of the information to surface in your thoughts. It rarely happens by declaring two hours on a Thursday afternoon to sit at your computer to think of it all.

3.Refine and organize the tips. Divide them into categories and edit the text. Use a writing style similar to what you are reading here.

4.Be sure to include your contact details so readers can easily reach you. Add a brief section about your background so people will know your qualifications for presenting the information.

5.Hire a graphic designer to make the words look good on the page. Your completed product will be a tips booklet measuring about 3 inches by 8 inches when printed. The designer will create their part of the finished product as a PDF file.

6.Send the PDF file from your graphic designer to a printing company. Do an initial print run of 1,000 copies.

7.Think about who can benefit from using your booklet to promote their own product, service, or cause. Send them a sample of your booklet and a cover letter describing some of the ways they can increase their sales or further their cause by using your booklet as a promotional tool.

8.Consider corporations, associations, publications, and any other group that seems appropriate for the topic of your booklet. Reach out to as many of them as you can, on whatever budget of time and money you have available to you.

9.Realize that every time one of the large-quantity buyers sends out your booklet to promote their own product, service, or cause, they are also marketing your business. Your contact information in the booklet allows the reader to reach you directly.

10.Enjoy the expansion of your customer base and your checking account. You are now reaching a larger audience than you are likely to do single-handedly, thanks to the large-quantity buyers of your booklet. And you have been paid by your buyers to reach those new people.

Those sound bites you have been saying for years are now reaching far beyond your current clients, helping your buyers, their clients, and your own business. It doesnt get a lot better than getting paid for your marketing materials.

2005, Paulette Ensign

Things to Know About High Risk Driver;s Insurance

Most people, especially the youngsters, like to drive fast. But yet there are several people who are even afraid to sit behind the steering wheel and their reason for not driving is the fear of meeting with an accident. However we must realise that we cannot just sit back due to any such fear. Even if you drive the vehicle or not it is always recommended to get high risk driver insurance for your vehicle so that even in case of an accident you do not lose anything. Getting high risk driver seems relevant only for rash drivers, but having such an insurance policy will do no harm as the policy also covers the medical charges in case of an accident. So if you are hurt in an accident the insurance company will not only pay for the repairs of your car it will also cover your medical expenses.

There are many companies providing cheap auto insurance policies for vehicles. Depending upon your requirements and the budget you can select a cheap commercial policy for your car. There are many different cheap Toronto plans that can be selected depending upon your requirements be it an insurance policy for your home or your car or even a life insurance policy. Nowadays, availing a high risk driver insurance policy has become much easier since the introduction of the online procedure as it has helped to reduce the attached paper work. One need not make multiple trips to the insurance company to complete the formalities as these can be done very easily while comfortably sitting in your home.

In order to geta cheap insurance Toronto you need to have a valid driver’s license if not a driver’s license you must has received some training from a good driving school. After considering these parameters the insurance companies would offer you different policies. While looking for an policy ensures that the company you approach offers a cheap auto insurance policy that fits comfortably in your budget. Also if they provide an online option for completing the formalities along with a 24/7 customer care that can help you to clear out doubts if any.

Any reputed company offering cheap insurance Toronto would also offer insurance policies for professional offices, homes, retail stores, restaurants, commercial areas, night clubs and even personal insurance for your journey out of Canada. There are multiple policies and plans that you can have a look out and finalise the one in which you feel secure.

Nowadays, availing a High risk driver insurance policy has become much easier since the introduction of the online procedure as it has helped to reduce the attached paper work.