1.5 External environment

1.5 External environment

Top tip!

It is quite common for students to use a PEST analysis framework as a simplified version of STEEPLE analysis, where PEST stands for:

  • Political factors - which include legal factors
  • Economic factors
  • Social factors - which include environmental and ethical factors
  • Technological factors

Whilst there is no real issue with students using a PEST analysis framework (which is more simple than a STEEPLE analysis), given the PEST analysis is not explicitly stated anywhere in the IB Business Management syllabus, make sure you are familiar with using a STEEPLE analysis framework for assessment purposes.

InThinking resources

Click the hyperlinks below to access the InThinking resources for this particular section of the IB Business Management syllabus.

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