Micro and Macro Environmental Factors Essay

Added on - Dec 2020

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Essay
Table of ContentsINTRODUCTION...........................................................................................................................1Main Body.......................................................................................................................................1Macro and Micro factors that change the nature of modern business in the internationalenvironment.................................................................................................................................1Importance of Corporate social responsibilities..........................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONBusinesses are changing the way of operating from traditional structure to modernstructure that makes the process of doing business globally. The study will evaluate the microand macro environmental factors that can affect the operations, nature of the modernorganisation. Along with it, it will also analyse the importance of the modern businesses tobehaving ethically and importance of corporate social responsibilities.Main BodyMacro and Micro factors that change the nature of modern business in the internationalenvironmentModern business is different from the traditional businesses as traditional organisationrepresents the hierarchical organisational structure, vertical and upward power flow andemployees are departmentalized but on the other hand modern business is refers to boundary lessorganisation that are networking together and collaborating globally more than ever before (Bigaand et. al., 2016). As the modern business can operate globally there are some macro and microenvironmental factors that can affect the nature of business in global environment.Micro environmental factor are directly in relation with the company and can affect theorganisation on daily basis in their day to day activities. Micro environmental factors include;consumers; suppliers, shareholders, competitors, etc. Supplier can control the success of modernbusiness. Companies are dependent on the supplier for the further process as they provide rawmaterial and inputs to the organisations and they are an integrated part of day to day operationsand they can change the nature of the modern business at global level (Crane and et. al., 2019).As well as it is essential whether the business is modern or traditional to provide a qualityproducts and maintain their image in the market so they should select the supplier carefully andpoor supplier strategy can affect the daily flow of production of the company. Success of anorganisation in local or global level is dependent on strong consumer base that are able to affectthe nature of businesses in positive way or in negative way. Modern businesses are targetingconsumers by various marketing strategy including online and offline promotion to grab theinterest of the customer. At global level, the online buying behaviour, preference, different taste,etc. of the clients can affect the nature of business (McWilliams, 2015). It is essential for thecompanies to be consumer-oriented rather than sale-oriented to attain their trust and implement1
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