Micro and macro environmental factors that changed nature of modern business in the global environment

Business academic skills
Business academic skills

Business academic skills
“Micro and macro environmental factors that changed nature of modern business in the
global environment”
In the changing business environment, it has been examined that there is a drastic change in
context to managing the activities of the company. Just because of the availability and
advancement in the technology it is easy for the companies to conduct the activities on the global
platform. In this paper, the discussion will be made on the micro and macro factors that have
changed the nature of the companies on the global platform.
There are different micro factors that changed the nature of modern business on the global
platform. One of the factors relates to human resources. It can be said that the employees are
considered as an asset of the company and they are considered as the driver the activities of the
business. Earlier, the companies have to face challenges at the time of recruiting the skilled
employees but on the other now it can be easy for the company to appoint the candidates who
have basic knowledge towards the work. The availability of motivated and qualified workers for
the business can help in attaining economic success. Employees are the one who manages the
activities in the workplace Therefore, it can be stated that one of the micro factors that changed
the nature of the business is employees as now companies operate on the global platform and
they want more skilled employees as compared to the earlier times (Bratton and Gold, 2017).
Distribution channels and suppliers can be considered as the next micro factor that changed the
nature of the business. It can be said that presently there are different sources through which the
distribution of the products and services to the customers is convenient. Earlier, there was no
wide scope of distributing the products and services but now there are online companies who are
distributing the products by giving the facility to the customers of the home delivery. This has
positively impacted the overall sales of the products and services offered by the companies in the
market. In the present situation, the companies follow proper distribution channel in which the
manufacturers rely on the suppliers and resale companies rely on the wholesalers to transport the
products in the market (Bringezu and Bleischwitz, 2017).
Technology also comes under the category of the micro factor. In comparison to the earlier
scenario, the technology used by the companies in the present scenario is more advanced. It has
changed the working pattern and also reduces production time. With the use of latest
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