Organizational Fundamentals

SWOT is both one of the most simple and one of the most useful tools taught in Business. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and Weaknesses describe characteristics of the organisation itself, or internal characteristics, while Opportunities and Threats are present in the external environment. By understanding its own strengths and weaknesses and then evaluating external opportunities and threats, managers can clarify the existing situation and begin to t...

STEEPLE is a framework that is useful in examining a firm’s external environment. Building on SWOT analysis studied in the previous section, STEEPLE is used to better recognise and understand the opportunities and threats facing a business. STEEPLE is an acronym designed to prevent analysts from leaving out important factors when evaluating the external environment.