Macro and Micro Environmental Factors of Business

Added on - Feb 2021

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Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1Identifying the Macro and micro environmental factors of the business....................................1LO2..................................................................................................................................................3Examining the needs of the individual and organization in order to understand ethically andsustainablly..................................................................................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONOrganization is a comprehensive unit which consists of multiple operations and activitiesin order to achieve the main objectives of the firm.Business may be influenced by internal andexternal factors of the enterprise. Although, there are many external factors which effect businessenvironment such as intermediaries, public, customers, competitors, social, technological,political, economical and international. The study will be based on the PESTLE and SWOTanalysis that helps in determining external factors of the business. Also, the report will make aclear understanding about individual and organizational aspects that derives ethical andsustainable factors of enterprise.LO1Identifying the Macro and micro environmental factors of the businessEvery business organisation is a part of the business environment within which all theactivities are operated (Auchter, 2015). A single unit cannot be able to perform all the functionalaspects as there are many factors that may effects business environment. This global businesscan be classifies into two categories such as Micro and Macro environment.Micro business EnvironmentMicro environment of the business can be defined as all the internal environment of thebusiness which may leads to the direct influence on the business activities. This includescompetitor, supplier, market, intermediaries and customer.Suppliers: Those individuals who supply inputs like raw material, which leads to thegreat impact on the business environment. Supply shortage, delays or labour strikes mayaffects the sales and result in less profitability.Customers: it is one of the main factor as all the businesses operations are generallyperformed according to the needs of the customers. Customers are the buyers whopurchases the last manufactured commodity (Gupta, 2017). These buyers can be furthercategorised as Consumer market, business market, reseller market, government marketand international market. Consumer market generally buys goods and services forconsumption process. Meanwhile, all the other markets buys the commodity for thefurther selling which may be aimed at earning profits or social welfare (Macro and Microfactors of Business Environment, 2018).1
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