Micro and Macro Environment Factors
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Added on 2020-10-22
Micro and Macro Environment Factors
Added on 2020-10-22
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Table of ContentsINTRODUCTION...........................................................................................................................1Task .................................................................................................................................................11. Identify and discuss micro and macro environmental factors that in your view, changednature of modern business in the global environment................................................................12. Discuss the reasons why you think it important that individuals and organisations tomanage responsibly, sustainably and behave ethically in relation to social, cultural, economicand environmental issues............................................................................................................2Conclusion ......................................................................................................................................3REFERENCES................................................................................................................................4Business Environment. 2017.[ONLINE] Available through:<https://www.toppr.com/guides/business-environment/>..............................................................4
INTRODUCTIONBusiness environment is a atmosphere surrounded to business and it direct affect to performanceof business and it also affects to productivity as well as profitability. Environment is of two typeone is internal and second is external. Internal environment direct and closely related to businessactivities and it includes different factors like customers, suppliers, competitors etc and externalenvironment is a non control able factors that create barriers in achieve organizational goal. Itincludes different factors like political, economic, and social and technological factors. Thisreport will be cover that environment and its impact on business (Bocken, Rana and Short,2015).Task 1. Identify and discuss micro and macro environmental factors that in your view, changed natureof modern business in the global environment.Business environment is of two type like micro and macro:-Micro environment – it means that internal factors that direct affect to performance andit is control able like competitors, suppliers, intermediaries and customers. It also affects inregular basis. Competitors – it is a major factor of micro environment and its majorly affect tobusiness because if competitors in market present with same product and same size so its effecton sales and customers divided. So its direct put effect on productivity and profitability ofbusiness.Suppliers – this factors also direct affected to business because suppliers provide rawmaterial and resources that helpful in production. So every organization keep only limitedsupplier and if it shut down their business so it direct affected to business (Calabrese, 2018).Customers – organization has many types of customers like individuals so if competitorsorganization give more reasonable rates to customers so its direct affect to performance oforganization because customer attract with lower rates and organization has to also evaluatemarket condition like customer choice, fashion and trend.Intermediaries – it is also a internal factor that affect closely to performance oforganization because mediator is a person that make breach between manufacturer and customerand it includes like whole seller and retailer. It affects when competitor organization give more1
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