An Analysis Of The STEEP Model On Business

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STEEP Model Introduction : STEEP Model is a structure to reflect , describing and analyzing in the external environment and evaluate external factors that its impact the business , it’s important to any organization to consider and study those factors before they take any decision . STEEP model stand for : Social , Technological , Economic , Environmental and Political . Body : Social factors are social developments that affect business in term of demographic changes and includes : gender role , populations , lifestyle trends, ethnic/religious factors , demographics , law changes affecting social factors, publicity and advertising, consumer opinions and attitudes, the major events and influences, the way the population and culture change over…show more content…
Technological factors are highly focused on technological advancements , it includes : communication , innovation , development , research , energy and patent regulations , it’s also the technological shifts will affect quality , costs and lead to innovation . Technical and technological system in Bahrain is very sophisticated, nowadays , everyone in all countries use the internet and they feel that the technology is the most important thing in their life , it`s useful in many areas like for example in the provision of jobs , payment online and read the latest news , also the internet helps people , especially students in research and do the reports and activities , so Arab Open University has benefited from this factor in their interest , its depend on technology in the development of its business and its activities like its applied online register , exams and paid so their student can easily register the material and paid whatever they want , also Arab Open university establishes websites called LMS and SIS , so students can see the schedule of midterm and final exams , study and print the slides that its help…show more content…
The condition of the economy is highly associated with the buying poison of customers , in the economic , factors such as international trade , saving , entrepreneurship , interest rate , taxes , availability of jobs , inflation and subsidies are considered . As the average income of the individuals in Bahrain is few and the economic level of Bahrain is not very high , So Arab Open University is a non-profit university , its development project and it made it easier for individuals with limited income owner registration at the university due to the low process of materials compared to other private university . Also by virtue of that the university has many other branches in many countries , this thing proves its economy and served it as the financing is possible to get it out of the branch of Bahrain
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