All industries are influenced by SLEPTEC factors. For example, some of the SLEPTEC factors affecting the airline industry in recent years include:
Social: increased popularity of foreign travel leading to a boom in demand for air travel. However, this has been adversely affected by international terrorism.
Legal: there are increasingly tight rules about the materials that need to go into aircraft construction in order to make them safer and more resistant to fire hazards. This has had the impact of raising costs.
Economic: lower interest rates have meant that people have more disposable income to spend on luxuries like long distance air travel.
Political: the development of freedom of movement and trade in the European Union has led to greater levels of competition on European routes coupled with increased movement of people.
Technological: modern aircraft are safer and more economic to run than in the past making possible cheap air travel.
Ecological: Currently, many organisations are becoming more ecologically aware for the better of the planet. However, as airlines use fossil fuels that contribute to the damaging of the ozone layer, sources such as the media have criticized airline industries hence, damaging image/brand recognition.
Ethical: The above ecological influence can also be seen as an ethical one as, global organizations, including airlines have a commitment to being ethical and socially responsible, usually outlined in a corporate value statement.
Environmental: Again, aeroplanes use fossil fuels such as oil, which produce carbon dioxide thus adding to the greenhouse effect, damaging the ozone layer. / Business activity is also constrained by the environment in which the business operates, for example, by the actions of competitors and legal requirements.
Competitive: The airline market is a very competitive one. Not all airlines share the same strengths and weaknesses. Therefore, one...