Micro And Macro Environmental Factors - Assignment

Added on - Oct 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 3 of 6 pages
Context OfBusiness
Table Of ContentsINTRODUCTION...........................................................................................................................1Micro And Macro Environmental Factors..................................................................................1Reasons of why individuals and organizations should behave ethically in regard of social,culture, economic and environment issues..................................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONToday's international and aggressive business environment continuously asks for innovation,present understanding base is getting obsolete, continuously thriving for evolution in processdevelopment (Kwon, and Cho.2017). Further, Globalization and commencing up of markets hasnot only elevated competition but also has allowed businesses to operate in markets which wereconsidered prohibited. Thus, this report will highlight the micro environment factors likecustomers, suppliers, competitors and employees etc. and macro factors which are evaluated onthe basis of PESTLE analysis. Eventually, the project will frame the reasons in which theorganization and individuals need to behave ethically and sustainability regarding the social,cultural, economic and environmental factors.Micro And Macro Environmental FactorsMicro environmental factors:Customers: The customers are the crucial a part of any commercial enterprise as theygenerally tend to draw and maintain maximum of the clients to generate sales. Thus, with thechanging business nature in global environment organizations should undertake an advertisingapproach that attracts the customers and keeps the existing clients with the aid of contemplatingthe wants and desires of customers.Competitors: With the changing business nature in global context the competitors of acould have a right away impact on business strategies. Thus, the organization should realize away to do an aggressive analysis of competitors and have a competitive advantage (Najam,Runnalls, and Halle. 2016). An organization should understand, what services their competitor isoffering or the unique strategies their competitors are following and what benefits anorganization should offer to its customers which make them competitive.Employees: With the increasing dynamic global business environment skilled personnelcan assist a corporation to gain organizational goals and objectives. Thus, the company shouldconduct hiring procedure of skilled and intellectual employees and maintains regular and timelyeducation and development classes so that they can achieve the objective of organization inchanging global environment(Micro Environment of Business.2018).Suppliers:With the changing business nature in global environment suppliers activitiesaffects the business approach, as they offer the materials for production. Thus, the organizationshould produce improvement inside the supplier’s surroundings has an enormous effect on the1
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access