Ethical Behaviour In Business : Assignment
Added on 2020-10-05
6 Pages1297 Words438 Views
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ESSAY
Table of ContentsINTRODUCTION...........................................................................................................................1Micro and macro environmental factors which resulted in change of modern business............1Importance of ethical behaviour for individuals and business organisations.............................2CONCLUSION................................................................................................................................3REFERENCES ...............................................................................................................................4
INTRODUCTIONGlobal business environment is the combination of various micro and macro whichdirectly or indirectly affects and influence the working of the organisations. It has beenwitnessed that rapid changes have taken place in the internal and external environment of thebusiness. So to overcome this situation the market conditions can be analysed using varioustechniques and methods in the systematic manner(Craig and Campbell, 2012). This essay willcover the micro and macro environmental factors which are affecting the international anddomestic market. The essay will also include the major reasons behind the ethical behaviour ofthe individual and organisations. Micro and macro environmental factors which resulted in change of modern business.Business environment comprises of various factors which changes the pre decided plansand strategies of the organisation. It has been noticed that rapid changes takes place in themodern business environment. The changes generally takes place in technological, social andeconomical environment. To manage these changes it is the duty of the various organisations toanalyse the market by conducting research. As these research will help in knowing the pros andcons of the recent market trends. Market research can be done for knowing the needs andpreferences of the customer's, competitors strategy and market trends. As after knowing theresults plans can be made to gain competitive advantage in the market(Henriksen, Stambulovaand Roessler, 2010). The management of the organisation must gather relevant informationregarding the micro and macro environment. As by doing this long and short term plans can bemade and sustainability will be easily achieved. Micro environmental factors include suppliers, customer's, competitors, etc. These factorsdirectly affect the working and management of the various companies. Customer's are the mostimportant part of the micro environmental factors. So the main focus of the organisations mustbe on satisfying their need and demands. As they will directly lead to increase in sale andprofitability of the organisation. Many business organisations in the modern environment havealready made necessary changes in its plans and strategies for satisfying its customer's andincreasing the profit. Companies can also conduct competitor analysis for knowing thecompetitors strategies and action plan for the future. This analysis is generally conducted afterregular intervals because it gives better and accurate outcome.1
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