Role of Micro and Macro Factors in Influencing Modern Business

Individual Essay

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Micro and Macro factors.............................................................................................................1
Need for individuals and organisation........................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business environment is sum of external and internal factors which is effective and
significant for influencing business. There are two types of factors i.e. micro and macro
environment which affects business operations directly or indirectly. Micro environment are the
factors which are directly related to organisation. While macro factors are externally related to
business environment which are not in control of managers of association. In this report there is
discussion about role of micro and macro factors in influencing modern business and
responsibility of individuals and organisation in managing operations ethically to deal with
social, culture, economic issues.
MAIN BODY
Micro and Macro factors
These days business operates at international level, so it is important to consider changes
which are taking place in external environment (Ashjari and et. al., 2017). Business environment
component affects business operations in negative as well as positive manner. When managers
keep regular analysis, then it is easy to get positive outcome. International and external
environment components are discussed as under-
MICRO ENVIRONMENT:
Micro environment refers to components which are directly and internally related to
business. Hence they directly influence rate of growth at international level. Some factors are
discussed as under-
Management- Management of organisation refers to top level managers who are
planning, guiding and framing policies for growth of organisation. When they plan policies in
better and effective manner it is easy for association to work and perform activities in authentic
and relevant manner.
Employees- Employees are the workforce who works as per guidance of workers. For
instance: employees are not ready to work under new technique, then this affects efficiency of
overall organisation. Hence these days workforce plays crucial role in growth and development
of association in global market.
Machines- Machines are the source through which operations are performed. This is
medium which helps to conduct operations with more efficiency. When machines are not of
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