ABSTRACT
This chapter reviews the external drivers influencing its fortunes that a company must monitor. It uses the social, technological, economic, and political (STEEP) approach and gives a few illustrative examples for each category. Some social developments are on a grand scale, taking place over a lengthy period of time and becoming part of the familiar landscape of life. Many companies contribute to the onward advance of technology through developing it themselves and yet all depend on outsiders for most of the technological solutions they use. Business strategists cannot complain that they lack economic data, commentary and forecasts. Competitive intelligence (CI) analysts need to be aware of a myriad of external factors that may affect a company. Their broad scans of the total business environment make them well placed to identify potential risks and opportunities. The choice of information sources regularly scanned by them will depend upon the particular circumstances they operate under.
