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Micro & Macro Environmental Factors - Essay

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Added on  2020-11-23

Micro & Macro Environmental Factors - Essay

   Added on 2020-11-23

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Micro & Macro Environmental Factors - Essay_1
Table of ContentsINTRODUCTION...........................................................................................................................1Main body........................................................................................................................................1Micro and macro environmental factors that change nature of modern business in the globalenvironment............................................................................................................................1Discussion of the importance and need..................................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
Micro & Macro Environmental Factors - Essay_2
INTRODUCTIONIn the changing world, the way of businesses carried out is also changing that is becauseof technological advancement. All the influences make easier for the organisation to operateglobally. The aim of the study is to identify micro and macro environment that influence thebusiness in global environment and will discuss the importance of behaving ethically byindividuals and organisation in relation to various issuesMain bodyMicro and macro environmental factors that change nature of modern business in the globalenvironmentMany organisations are stepping ahead or plan to expand their businesses globally thatallow them to grab a wide population and market (Cipriano, 2018). There are different levels ofenvironmental influences including internal influences and external influences.Macro environmental factors are responsible to bring change in the nature of business.Various countries have different laws and regulations that influences industries the most.Political and Legal factor in any country is the combination of three branches of the government-Judiciary, Legislature and executive. It changes the nature of operating, way of doing business aswell as cost structure of the company (Crane and et. al., 2019). For instance; Laws andregulations of different countries regarding the companies and businesses such as; company acts,employment laws, etc. decides how modern businesses will operate globally with following allthe legal aspects and political elements. The nature of the modern organisation can affect by thetax rates, inflation rates at global level. In the global environment, culture, belief, values andnorms of the local customers differ as per the country that change the nature of the organisation.For example; demand, preference, taste of consumers of different countries can differ that decidetheir product demand and change the nature of business in terms of productions and distributionof the company's product by maintaining consumer's preference and with the aim of their needsfulfilment. It plays a huge role in the functioning of the company. Change in social environmentat global level directly or indirectly effect the industry.Economic factor of the country involvethe inflation rate, unemployment rate that affect the organisation in global context. In theplanning of global expansion, organisation need to acquire the economic factor of the countrythat change the nature of the businesses.1
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