Micro and Macro Environmental Factors that Changed Nature of Modern Business

This report discusses the micro and macro environmental factors that have changed the nature of modern business in the global environment. It also explores the need for individuals and organizations to manage responsibly, sustainably, and behave ethically in relation to social, cultural, economic, and environmental issues.

Essay (Project 1)

INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
Micro and macro environmental factors that, changed nature of modern business in the global
environment.......................................................................................................................................3
Individuals and organisations to manage responsibly, sustainably and behave ethically in relation to
social, cultural, economic and environmental issues..........................................................................4
CONCLUSION.....................................................................................................................................5
REFRENCES........................................................................................................................................6

INTRODUCTION
In the modern era, technique of carrying out business has been changed due to
availability as well as advancement in technology (Li and et.al., 2018). All these simply
change the style of doing business and have positive as well as negative impact on the
working of organisation. This report is based on, Tesco plc. Which is retail sector
organisation founded in 1919 and serving in United Kingdom, Ireland, India, Malaysia,
Thailand, Hungary, Poland and so on. Products offering by them are supermarket,
hypermarket, superstore and convenience shop. Report will going to cover, micro as well as
macro environmental factors which change nature of modern business within global
environment. Apart from this, it will identify the need for individual and organisation to
manage responsibly, sustainably in relation to social, cultural, economic and environmental
issues.
MAIN BODY
Micro and macro environmental factors that, changed nature of modern business in the global
environment.
Business environment are divided in two factors i.e., micro and macro which have
wide impact on the operation of organisation at global level. Micro environment is explained
as a nearby environment under that organisation operates. Whereas, macro environment
refers to the general environment which have impact on the working of business (Tong and
et.al., 2016). These both factors have wide impact on Tesco at global environment
explanation of these are as follows:-
Impact of micro environment on Tesco Plc-
 Competitors – As Tesco Plc is doing business at global level result in increasing level
of competition for them. Because there are several others retail sector organisation
also which act as a competitor for same company.
 Suppliers – While doing business at global level suppliers give wide impact on Tesco
Plc because price of raw material get modify from one nation to another and it may
increase as well as decrease production cost of products and services offering by
respective company.

Impact of macro environment on Tesco Plc
 Technological factors – Emerging technology have positive impact on Tesco Plc
because with the assistance of this it became easy to produce uniform product as well
as satisfy customers need and wants on required duration (Stanley, Ogbonna and Abu,
2017 ).
 Economic Factors – Several countries economy is not stable which give negative
impact on the operation of Tesco. Whereas, some economy is developed which have
positive impact and result in increasing sale as well as business growth in that
particular nation.
Thus, micro and macro environmental factors give wide impact on Tesco Plc in doing
their business at global level.
Individuals and organisations to manage responsibly, sustainably and behave ethically in
relation to social, cultural, economic and environmental issues.
It is essential for an organisation as well as individual person to manage their duty or
responsibilities, sustainability as well as have to behave ethically in terms of environmental,
social, cultural and economic issues. Explanation of these are as follows :- Individual and organisation responsibility, sustainability and ethically behaviour in
terms of social issues – An particular person as well as organisation has an duty or
responsibility towards social issues. They have to do such activities that will be
beneficial for society at wide level. Tesco Plc have to do corporate social
responsibility because its outcome will help in welfare of the society by offering
education to children, food as well as shelter to people who are in need (Visser and
Tolhurst, 2017). Apart from this, a personal duty towards social issues is explained as
the behaviour of individual and how it will give impact on the community. Individual and organisation responsibility, sustainability and ethically behaviour in
terms of cultural issues – Each and Every person is different in term of culture from
others that sometimes create issue while working in an association at that time it is
duty of Tesco plc manager to behave in ethical way. As well as give priority to every
type of cultural and conduct some program that will assist in developing good and
friendly environment within the respective association. Apart from this, it is

responsibility of both firm and individual to fulfil their responsibility towards cultural
issues in better manner. Individual as well as organisation responsibility, sustainability and ethically
behaviour in terms of economic issues – Business is also an economic activity and
running with the motive of generating revenue. In this it is requirement of
understanding customers need as well as wants. That can be related to quality of
product or its price. Along with this organisation help in development of economy by
providing job opportunities to people in need as well as also assist in increasing their
living standard. Individual and organisation responsibility, sustainability and ethically behaviour in
terms of environmental issues – It is the one of major issue because everyone wants
clean as well as fresh surrounding nearby them. Thus, it is responsibility of a
company as well as specific person to fulfil their responsibility, behave ethically as
well as sustainability towards environmental issues. So, individual have to take care
that activities conduct by them on daily basis will not pollute surroundings (Tran,
2019). Along with this, they have to plant trees because it will help in producing fresh
air. Whereas, Tesco plc should have to do something in relation to the environment
like should not pollute water by dumping wastage and have to take care of air
pollution also. They have to do such activities that it will not harm environment.
Thus, after going through the above discussion it has been analysed that both individual as
well as organisation have equal sharing of responsibilities towards culture, society, environment
and economy.
CONCLUSION
From the above discussion it has been concluded that, emerging technology result in
doing business within effective manner. Macro and micro factors are business environmental
factors which have wide impact on modifying nature of modern business. Apart from this,
Tesco Plc and individual both have to manage their responsibility as well as sustainability in
relation to economic, social, cultural and environmental issues.

REFRENCES
Books and Journals
Li, H. and et.al., 2018. Micro-damage evolution and macro-mechanical property degradation
of limestone due to chemical effects. International Journal of Rock Mechanics and
Mining Sciences, 110, pp.257-265.
Tong, T. and et.al., 2016. Investigation of the effects of graphene and graphene oxide
nanoplatelets on the micro-and macro-properties of cementitious
materials. Construction and Building Materials, 106, pp.102-114.
Stanley, H. O., Ogbonna, C. B. and Abu, G. O., 2017. Dynamics of Micro/Macro Elements
and Heavy Metals during Anaerobic Treatment of Organic Fraction of Municipal
Solid Waste (OFMSW). Asian Journal of Biotechnology and Bioresource
Technology, pp.1-17.
Visser, W. and Tolhurst, N., 2017. The world guide to CSR: A country-by-country analysis of
corporate sustainability and responsibility. Routledge.
Tran, B., 2019. Corporate social responsibility. In Advanced Methodologies and
Technologies in Business Operations and Management (pp. 270-281). IGI Global.