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The Impact Of Micro and Macro Environment Factors on Modern Business

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Added on  2020-10-22

The Impact Of Micro and Macro Environment Factors on Modern Business

   Added on 2020-10-22

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Context of Business
The Impact Of Micro and Macro Environment Factors on Modern Business_1
TABLE OF CONTENTSMAIN BODY...................................................................................................................................3Impact of macro and micro environmental factors on modern business....................................3Importance of individuals and organizations to behave properly...............................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
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MAIN BODYBusiness can be termed as an activity that is effectively based on the environmentalfactors that impacts the performance of a firm. The micro and macro environmental factors arethe key influencer that moulds the execution of business activities to a greater extent. This report will lay an emphasis on the macro and micro environmental factors that arebeen taken in consideration by a modern business and thus impacts the sales and overallproductivity of a business enterprise.Impact of macro and micro environmental factors on modern businessPESTLE analysisPolitical: A modern business enterprise is effectively requires considering the politicalfactors that are been placed within the enterprise.Any new policy or act can be placedthat can impact overall operations of a modern business(Gao and et.al., 2017). Forexample, exit of Britain from EU that is Brexit has influenced business, strategies,direction shaping of modern organization.Economic: Financial factors are required to be placed in consideration by the firm thatwill impact the execution of business operations. Businesses are required to look after theproper planning of the financial strategies and operations in order to look aftersustainability of productivity and revenue generation of the firm. Brexit and globalizationwill help modern businesses to flourish in most effective and significant manner.Social: With the passage of time, Modern business enterprises have emerged theirunderstanding towards society. To deal with global buyersbuyers’ modern organizationsare focused on implying to corporate social responsibility which is one of the majorinfluencing factors that impacts the nature of modern businesses on a global level. Technological: With the advancement and digitization of business, latest and innovativebusiness activities can be followed. Besides this, the usage of the latest technology willhelp the organisationorganization in multi fold manner (Schaltegger and Burritt, 2017). Itwill not only help in saving time and efforts that are implied within theorganisationorganization. Besides this, it helps modern organizations will help in gettinga clear insight of the ongoing market trends.
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