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Micro and Macro Environment Factors Essay

   

Added on  2020-10-05

7 Pages1596 Words489 Views
Context of Business

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Essay...........................................................................................................................................1Micro and macro environment factors........................................................................................1Importance of individual and organisation to manage responsibly in order to carry out theoperations....................................................................................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONCarrying out the business operations will impact the overall performance of theorganisation. It also impacts the overall performance level and thus will lead the organisation andenhance its performance. This will impact the overall performance of the organisation. Thereport will cover the details about the micro and macro environmental factors that will help inimproving the sales and overall performance of the organisation. The micro environmentcontains the internal factors that can influence the performance of the organisation while themacro environmental factors include external environmental factors that will help in carrying outof assessment of factors influencing the business operations. The essay will cover the details ofmicro and macro environmental factors with management of individual and organisationoperations on social, cultural, economic and environmental issues faced by UK based retailenterprise Marks and Spencer.MAIN BODYEssayMicro and macro environment factorsInternal assessment of M&S will help in identifying its strengths and weaknesses withproper assessment of potential opportunities and threat factors. The SWOT of M&S is asfollows:Strength:High brand recognition: The brand is known to have high brand value that enables it tohave a high level of accessibility to its customers. It also supports the rise in increasing therevenue generation of the firm.Wide variety of products: M&S has a wider product portfolio as compared to itscompetitors. The products and services include food, clothing, electronics, groceries and toys,helping it to cater wider consumer base (Shi, Li and Bigdeli, 2016).Larger number of outlets: M&S has a larger number of outlets, facilitating highernumber of sales and revenue generation for the organisation.Weaknesses:Non trendy store: The outlets of M&S have not updates as per the changing currenttrends that will impact the sales of the organisation. The young generation or consumers arereluctant to visit its stores due to this reason.1

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