Micro and Macro Environment Factors Assignment
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Added on 2020-12-09
Micro and Macro Environment Factors Assignment
Added on 2020-12-09
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ASSESMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. The dynamic and changing nature of business and the consideration of future of theorganisation within the global business environment................................................................12. The needs for individuals and organisations to manage responsibly and sustainably andbehave ethically in relation to social, cultural, economic and environmental issues..................2TASK 2............................................................................................................................................31. History of the business selected............................................................................................. .32. Leadership styles, management practices and various strategies for developing people........43. Strategies and policies which have implemented or achieved stakeholders interests.............64. Recommendations for improvement.......................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONGlobal business environment is termed as the environment in distinct countries whichincludes the opportunities as well as threats for the business entity to perform its operations(Ayanso, Cho and Lertwachara, 2014). This assessment addresses various micro and macroenvironmental factors which changes the nature of business within the global businessenvironment. It also includes the reasons and needs for individual and organisation to managesits issues in different circumstances. TASK 11. The dynamic and changing nature of business and the consideration of future of theorganisation within the global business environmentGlobal business environment includes various micro and macro factors which influencesdecision making and action of an organisation. A business performs its operations outside theboundaries of a nation which are dependent on various factors to take rationale decisions relatedto the optimum usage of resources. Various factors are as described:Micro factors: These are those factors which affects the working, performance of anorganisation but can be controlled by adopting various strategies it includes competitors,market intermediaries, suppliers, customers, public and employees as well as theirunions. Competitors are the individuals or business entities who are rivals or perform thefunctions against other entities (Derudder and Witlox, 2016). All the organisations facesvarious competitions to sustain a position in the global business environment. Marketintermediaries are the individual or organisations who provides services from thebusiness entity to the end consumers. They acts as the middlemen who conveys the needsof consumers to business owners and at the same time provides products to consumers.Suppliers are the organisations as well as persons who supply or provides raw materialsto the business manufactures to produce the finished products to provide them in theglobal business environment.Public are the individual person who demands the goodsand services in the in international market and has actual potential interest inorganisational products or services and impacts the ability to achieve firms objectives inthe global business environment. 1
Macro Factors: These are the external uncontrollable factors which influence decisionmaking also affects the performances as well as strategies of the organisation to greatextent. These are the general factors which affects the productivity and implementation ofthe organisational strategies. It includes political, economic, technological, social andlegal factors. Political factors are those factors which have great impact in the working ofany organization. It includes trade policies, trade restrictions, environmental laws, foreigngovernment policies and others. Technological forces affects the business at great extent.It includes all the technological related aspects like technological incentives, research anddevelopment activities, rate of technological changes (Edwards and Gaventa, 2014).Legal factors are those rules and regulations that are enforced by the government of anycountry and mandatory to follow by all business units. The entities of different nationshave to follow all the laws as implemented by the government of the country in whichthey are working.All the micro as well as macro factors directly or indirectly affects the performance of anyorganisation. These changes the dynamic nature of the business and considers various plans tomake the future of the organisation within the global business environment.2. The needs for individuals and organisations to manage responsibly and sustainably and behaveethically in relation to social, cultural, economic and environmental issuesIt is very important for any individual as well as organisation to coordinate variousactivities for the purpose of managing responsibly and sustainably and behave ethically inrelation to various external factors to perform certain tasks to operate the business activitieseffectively to sustain in competitive market and facing the issues efficiently. Various factorsincludes:Social factors: These includes the situations, experiences, shared beliefs, ideas as well asfacts which affects the business and individual behaviour. These comprises population growthrate, age distribution, career attitudes, health consciousness, cultural beliefs of any firm to focuson the different social perceptions to increase its market share and manage its sustainability tobehave ethically towards various issues (Fussler, Cramer and Vander, 2017). Cultural factors: These factors are important to shape the attitude as well as behaviourof different people in distinct countries. Various entities works to follow the cultural norms, rulesto respond towards distinct situations. Different countries follow different cultural norms, beliefs,2
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