What is SLEPT Analysis?
SLEPT is an acronym that stands for Social, Legal, Economic, Political, and Technological. It is a method that is used to analyze the external environment in which a business or organization operates, and to identify potential opportunities and threats.
The SLEPT Analysis method is based on the idea that a business or organization operates within a complex and dynamic external environment, and that this environment can have a significant impact on the success of the organization. By analyzing the key factors that shape the external environment, organizations can better understand the challenges and opportunities they are likely to face, and they can develop strategies to respond to those challenges and take advantage of those opportunities.
The elements of the SLEPT Analysis method are as follows:
Social: This includes factors such as demographics, cultural values, and social trends.
Legal: This includes factors such as laws, regulations, and legal frameworks that impact the organization.
Economic: This includes factors such as economic conditions, inflation, and exchange rates.
Political: This includes factors such as government policies, political stability, and political trends.
Technological: This includes factors such as technological advances, trends in technology adoption, and the impact of technology on the organization.
The SLEPT Analysis method is a useful tool for helping organizations to understand and analyze the external environment in which they operate, and to develop strategies to respond to the challenges and opportunities that this environment presents.