Compare and contrast the difference between SWOT and STEEP analyses as means of conducting a needs assessment. What factors do administrators/managers consider when deciding which programs to implement? Lastly, describe the role of a needs assessment in laying the foundation for program design and development.
The Social Technological Economic Ecological Political (and legislative) analysis better known as STEEP represents an analytic method that companies employ to ascertain the feasibility of opening new markets for their products based upon macro-economics. The factors such as social, technological, economical, and political factors have very important external influences on a company's marketing strategy. Companies have no influence over these particular factors typically but must adapt to these factors and attempt to take advantage of these factors to suit their company's market. Companies usually have no influence on these factors, so they have to accept them and somehow try to adapt them ...
SWOT and STEEP analysis are examined.