Micro and Macro Environment Factors : Tesco
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Added on 2020-12-30
Micro and Macro Environment Factors : Tesco
Added on 2020-12-30
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PROJECT 1......................................................................................................................................1Identify and discuss micro and macro environmental factors that in your view, changed natureof modern business in the global environment............................................................................12. Reason behind the organisation to manage responsibility, sustainability and behave inrelation to manage the cultural, social, environmental as well as economic issues.....................2PROJECT 2......................................................................................................................................31. Brief summary of Tesco and Rationale for this choice............................................................32. Vision, leadership style and management practices adopted by Tesco...................................43.Analysis and Implication of such techniques in Tesco............................................................54. Recommendations and Strategies............................................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONPROJECT 1Identify and discuss micro and macro environmental factors that in your view, changed nature ofmodern business in the global environment.Micro environmental factors: Micro environmental factors are those that directly effects the business operations of thecompany (Anastassiu and et.al., 2016). These factors also have influence over the performance anddecision making function of the firm. It includes customers, competitors, suppliers, etc. The business need to change its operations as per the changes occur in these factors. Forexample, In case, the taste and preference of the consumer gets change, the firm needs tochange its business operations accordingly. As, avoidance of this change may result in losing thepotential customers of the company (Phillips-Wren and et.al., 2015). Further, being a globalorganisation, as the company have huge amount of customers, the change in the business as perthe taste of the business may result in changing the overall nature of the company.Further, a global business have competitors worldwide. Development of competitivestrategies as per the competitors may lead in changing the overall business operations of thecompany, through which the overall business structure of the firm may gets affected. Suppliers in the worldwide also have influence over the company's business. They effectthe cost of production and business operations of the firm (Lankoski, 2016). Development andImplementation of strategies as per the needs price of suppliers can affect the business operationsof the company. Macro environmental factorsThese are the factors of external environment of the business. A company is indirectlyaffected by these factors. They also influence the various business operations of the companyand its decision making functions as well (Wirtz and et.al., 2016). Many factors like politicalfactors, legal factors, technological factors, etc. can be included in the macro environmentalfactors. As business of a global company spreads worldwide, these factors have major influenceover the business operations of a company. For example, a global company needs to makefrequent research over the technological updation at worldwide level. In present time, a companyneed to update itself as per the technological changes in the market, as using outdated technology1
may reduce the efficiency of a business (The Impact Of Micro and Macro Environment Factorson Marketing, 2018). Further, frequent change in the technology of the company may also resultin the changing the way of performing overall business operations.Further, a global business majorly gets effected through the change in political factors ofat worldwide. Rules change by the political parties results in making the company in changingtheir policies and plans of performing business activates. In this regard, the political factor alsohave potential impact over the business operations of the company.In addition, the cultural factors also have impact over the business operations. Thecultural factors have impact over the consumers' taste and preference. Further, the social factorsaffects the social responsibilities of the firm (Child and et.al., 201). As a global company needs toperform its business operations as per the social and cultural difference at international level, itsbusiness gets affected through these factors as well.In this regard, it can be analysed the both macro and micro environmental factors havemajor influence over the business operations of a global company.2. Reason behind the organisation to manage responsibility, sustainability and behave in relationto manage the cultural, social, environmental as well as economic issues.In relation with managing the business responsivities in the organisation on which it isbeing required that the one would have effective control over the operational activities andmanagement of operations which would the firm in retaining the adequate marketable success(vom Brocke, Zelt and Schmiedel, 2016). There have been challenges based on determining theeconomic, enveiromental, cultural and social factors which affects the operations of firm (Souto,2015).There have been several challenges which are being faced by any organisation which isoperating on the large segmentation (Child and et.al., 2017). There have bene variations in theculture and social environment which affects the individual learning and understating theparticular job (Wirtz and et.al., 2016). The differences in the languages would have negativeimpacts on the operational performance done by the professionals at the work place.it affects thetraining and development program imposed by the organisational manage sin order to trainedand manage the staff (Lankoski, 2016). However, such differences usually based on the diversityform one location to another as well as person to person differences.2
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