Technology’s Impact on Small Business: STEEP Analysis – Part II
Technology’s Impact on Small Business: STEEP Analysis – Part II

Technology’s Impact on Small Business: STEEP Analysis – Part II

We reviewed the social portion of STEEP analysis and learned that social cultural informs us of people. Their social cultural trends tell us who our clients are, what their changing needs are and what opportunities and threats we should be aware of. The social culture creates insight into your target market. The second portion is technology. It is data about scientific and technological developments. It is no secret that this new informational age has sped up our world in ways we never imagined possible. The speed technology has taken is so rapid it can be overwhelming. Technology is outdated by the time it reaches the public. Technology has a direct impact on the way we live, work and learn. Everything is run through technology and those who chose not to participate in learning new technology are no less affected by it than those to do.

It has become impossible to steer away from technology, it is everywhere; from what you use to create your products or offer your services to what you use once everything is finalized and sold, technology is a part of it all. Changes in technology influence every area of STEEP – social, economical, environmental and the political arena. Technology is are the core of all current change; it is cutting edge, it is innovative and creative. Technology is responsible for innovation, energy, communication, transportation and research and development.

Technology is responsible for all current changes and behind everything that moves. Gone are the days of keeping your books in a ledger, mailing a letter or posting your ad in the yellow pages for new customers. These and more have been replaced by intelligent software, email (responsible for the downsizing of USPS) and online advertising. Technology is even responsible for dating and marriage. Technology has gathered your audience online and if you position yourself appropriately they can be at your fingertips.

It is evident that technology is here to stay and sooner than later nothing will run without technology. Any breakthroughs in will be centered on technology. Therefore, it is imperative to familiarize yourself with this new technology quickly. Learn the latest software, learn how to navigate the internet, stay on top of your technological game. This will reduce the risk of problems while improving the quality and rapidness of your results. Stay sharp with technology for your businesses sake.

To Your Success


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