STEEP stands for which set of factors?

STEEP stands for which set of factors?

• A. Social, Technological, Economically, Environmental, and Political
• B. Social, Technological, Economical, Environmental, and Political
• C. Social, Technology, Economical, Environmental, and Political
• D. Social, Technological, Economical, Environmental, and Political

Answer: (D)

The question tests your knowledge of the exact terms in the STEEP framework used for external environment analysis. The standard wording includes five domains: Social, Technological, Economic, Environmental, and Political. Each term is an adjective describing a broad area: social trends, technological developments, the economy, environmental factors, and political context. Why this set is correct: Economic is the proper noun here, referring to overall economic conditions, not “economical” which means cost-saving or efficient. Technological is the correct form, describing technology-related factors, whereas Technology would refer to the field or a system rather than the domain as a dimension. Social, Environmental, and Political are already correctly phrased as adjectives. In short, the recognized version uses Economic and Technological along with the other three domains, yielding Social, Technological, Economic, Environmental, and Political.

The question tests your knowledge of the exact terms in the STEEP framework used for external environment analysis. The standard wording includes five domains: Social, Technological, Economic, Environmental, and Political. Each term is an adjective describing a broad area: social trends, technological developments, the economy, environmental factors, and political context.

Why this set is correct: Economic is the proper noun here, referring to overall economic conditions, not “economical” which means cost-saving or efficient. Technological is the correct form, describing technology-related factors, whereas Technology would refer to the field or a system rather than the domain as a dimension. Social, Environmental, and Political are already correctly phrased as adjectives.

In short, the recognized version uses Economic and Technological along with the other three domains, yielding Social, Technological, Economic, Environmental, and Political.