Understanding Slept Analysis with Example
The SLEPT analysis is the business environment analytical tool. It is mainly based on another macro-environment analytical tool PEST with the extra dimension which is the Social dimension. In SLEPT analysis, the social, legal, economic, political, and technological factors are discussed. It is nowadays achieved great popularity among business organizations for its power to assess the micro and macro environmental situation of competitors. The SLEPT analysis is highly required for global organizations that are in a state of change. During change management, it is highly crucial to take pro-active challenges and provide some extra benefits than the competitors.
Slept Analysis Example
Social factors are highly emphasized in this SLEPT analysis. Through these social factor’s organizations can measures the social behavior, lifestyle pattern, purchasing trends, and trends of consumers. As a result, it is very important to consider the age structure, consumer behavior measurements, and style management process of a population.
Laws of consumer protections, environmental safety, employment law, non-discrimination related laws along with other business activities are measured in this analytical tool.
Economical aspects are going through the boom period as well as recessions. In this COVID-affected world, it is very tough to assess the proper situation. Here it can be best to assess the employees' turnover rate and productivity rate for achieving the best result.
Around one-year, Political changes become very predominant due to COVID along with other reasons. Political activities are changed due to detachments of the European Union and others.
Technological aspects are reflecting its umbra the most in the field of communication. Nowadays, all the global business organizations are providing their best effort in enhancing the communication-based advantages.
SLEPT analysis in E-Commerce:
The SLEPT analysis is now a business essential tool when it comes to e-commerce-based business. Here global E-commerce platforms like Amazon and others are required to focus on the social needs of a population group, their social behavior, taste, and others. When SLEPT analysis will be performed then it will be easy to assess the economical, legal a technological framework measurement. For further development, it is very crucial to assess communication skills. For an e-commerce system, most crucial thing is to maintain communication with consumers and make them aware of products, services, and offers. It is the best way to develop the sphere of popularity in e-commerce platform with SLEPT analysis.
SLEPT Analysis of Coca-Cola:
Coca-Cola has a social sphere in Asia, Europe, Australia, and other countries. Here social behavior is rich, and peoples can buy products. Legal rules follow the employment acts, protective activities, non-discrimination, and others. Economical aspects are medium to low whereas, Coca-Cola has designed different sized packs as the solution to economic issues. The political parts are stable. Technological facets are high to medium for Coca-Cola. From all of these aspects, it is observed that SLEPT analysis is sufficient to continue their business with profitability.
SLEPT analysis of McDonald's:
McDonald's has maintained their business in Eastern as well as western countries. Here the social environment is protective and having relationships with the western environment. The legal field is comprised of maternity leave acts and multilingual activities. The political scenario is stable. The economic situation is fluctuating. There is the threat of competitors for McDonald's' due to the presence of KFC, Burger King, and others. The technological aspect is stable for providing a sufficient supply of materials.
SLEPT analysis of IKEA:
IKEA, the furniture-making giant has developed its field of business across the world. Through SLEPT analysis, it is found to be present that the social situation is high to moderate. Here the population is aging that's why online platform-based technology has provided a great milage. The political scenario is stable for monarchy or parliament-based administration. The economic situation of IKEA business countries is stable. All of these facilities have provided the best support to the business organization IKEA.
Conclusion
SLEPT analysis can provide an outline of macro and micro-business environments. Proper analysis is helpful for the socio-economic growth and development of global business organizations.
