Here’s our question - how do you make your decisions? I mean your big decisions. Like where to build your next factory. When to stage your next global product launch. We’re talking about the Giga decisions.
Do you use PESTLE and STEEPLE? Not the kitchen grinding tool and the church spire - the business planning tools that enable you to create a meaningful strategy in our complex, ever-changing world.
PESTLE AND STEEPLE focus on the big external factors that pose an opportunity or risk for your business. They look at the big picture - which seems to be getting bigger all the time.
In the beginning, there was PEST
Both PESTLE and STEEPLE are descendants of PEST. The original tool was relatively simple and looked at four macro-economic areas affecting every business. It encourages you to assess the opportunity and risk in each of those areas.
New names for new tools
Covid-19 will call for a reappraisal of all society tools, not least those for opportunity and risk analysis.
PESTLE and STEEPLE are more relevant to new challenges than ever before. Assessment, in every dimension, will be more essential - and in every sector. There will be bigger opportunities, but with bigger opportunities come bigger risks. It’s precisely what PEST, PESTLE and STEEPLE were built for.
Is STEEPLE enough?
One wonders if seven dimensions are enough. Should the next tool have a Global Health dimension? Should there have been one before? Will it have a WFH dimension, or a plain and simple pandemic dimension?
There will be too many letters for one neat pneumonic. Opportunity and risk have assumed new proportions. What started out as PEST then evolved into PESTLE and STEEPLE. Will it have to evolve again? If it leads to a greater depth of insight - meaningful insight that allows you to adapt and develop an ongoing, robust strategy for your business and brand - then we’re all for evolution.