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Micro and Macro Environmental Factors : Essay

   

Added on  2020-10-22

6 Pages1371 Words322 Views
Leadership Management
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MICRO AND MACROENVIRONMENTALFACTORS
Micro and Macro Environmental Factors : Essay_1

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Internal an external factors that changed the nature of modern business in the globalenvironment............................................................................................................................1Importance of CSR for organisations and individuals...........................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
Micro and Macro Environmental Factors : Essay_2

INTRODUCTIONMicro environment is the operating environment of the firm and macro environment isremote environment of the firm. Micro environmental factors are interlinked with the companythan macro environmental factors. The individual essay aims to identify the micro and macroenvironmental factors that can affect the modern businesses globally. Along with it, need of CSRfor individuals and organisation will also identify to manage responsibly and sustainably andbehave ethically.MAIN BODYInternal an external factors that changed the nature of modern business in the global environmentModern businesses and traditional businesses are different in terms of operating (Crane,Matten and Spence, 2019). As traditional organisations are operates within a specific marketboundaries and modern businesses are boundary-less. Modern business is more technology basedthan traditional businesses. There are many factors and environments that affect the nature,activity, operations and functions of the modern industry. Generally; the micro environment andmacro environment.Micro environment are controllable and has direct and immediate bearing on the industry.Main objective of any modern organisations is to satisfy the needs, desire and want of its targetconsumers (Crowther and Seifi, 2018). They are the central part of any company who generaterevenue and drive sales. Currently consumers are open to choice and their switching cost is lowif they find their needs are not fulfilled by the company. Consumers affect the nature of modernorganisation that depends on their behaviour towards the organisation and their experience withthe services and product drive their loyalty and attachment. Customer's need, demand,preferences, taste, priority, price sensitivity, etc. affect the nature, functions and operation ofmodern organisation at global level.Every organisation whether it is traditional or modern have competition at global or locallevel and they are able to affect the nature and operation of the company (Grayson and Hodges,2017). Modern organisation has to keep a constant check on their competitors, strategies andensure that the products are different and unique from the competitors. Technologicaladvancement, new research and development, pricing strategy and most importantly level of1
Micro and Macro Environmental Factors : Essay_3

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