Essay on Steeple Tobacco and Balance Scorecard - 1449 Words

STEEPLE and Balance Scorecard Kevin Jackson MKT 598 April 27, 2014 Anthony Bretti, Instructor When a firm uses an external consultant to solve a problem or evaluate an opportunity the consultant can use STEEPLE (social, technological, economic, environmental, legal, and ethical), which is a preliminary analysis technique to answer why the business organization or systems exist (Wickham, Wickham, 2008, p. 128). This analysis the consultant preforms helps to determine how the firm business fits in its external environment. The consultant can also use the balances scorecard to measure the financial and non-financial performance of the firm. The consultant will use the STEEPLE and Balance†¦show more content†¦The technological factor, Phillip-Morris has does not have the knowledge of producing e-cigarettes. The firm will have to rely on a third party to produce the product. With the company not having the technology or the technical know how to produce e-cigarettes the price of the product can be very expensive. This has a negative affect on the economical factor, because many consumers may not be able to afford the product. In addition, by the firm using a third party to produce the product the firm does not assume the risk of borrowing the necessary funds. The firm will not have any negative environmental factors of producing the product, because the third party will assume the risk. However, Phillip-Morris does impact the environment with its current production of making cigarettes. In the political and legal issues the firm can face is very limited. Phillip-Morris will have to comply with federal, state, and local laws governing the legal age requirement for purchasing the product. The firm will have ethical issues if the packaging, design, and marketing is promoting the alternative way of smoking as â€Å"cool.† This can entice young society members to purchase and use the product. However, if its marketing, packaging, and design is to provide adults an alternative and health way of smoking. This will show society that the firm cares about the health of its customers and those who are affected by second