Before creating business plans or when evaluating existing ones it is important to 'scan' the external environment. This takes the form of aSLEPT analysis, i.e. an investigation of the Social, Legal, Economic, Political, and Technological influences on a business. In addition it is also important to be aware of the actions of your competitors. These forces are continually in a state of change.
Read more: http://businesscasestudies.co.uk/business-theory/external-environment/slept-analysis.html#ixzz3Qk5RawsI
Follow us: @Thetimes100 on Twitter | thetimes100casestudies on Facebook