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Micro and Macro Environmental Factors

   

Added on  2020-10-05

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Micro and Macro Environmental Factors_1
Table of ContentsINTRODUCTION...........................................................................................................................1Identify and discuss micro and macro environmental factors that changed nature of modernbusiness in the global environment.............................................................................................1Important of individuals and organisations towards managing responsibly, sustainably andbehave ethically in relation to social, cultural, economic and environmental issues..................2CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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INTRODUCTIONMicro and macro factors analyse the market environment for business. With the help ofthese factors individuals and organisations can identify the strength and weakness of its business(Hamilton and Webster, 2018). This study will be based on report of business environment. Thisreport will examine the micro and macro environmental factors. It will discuss important ofindividuals and organisations towards managing responsibly, sustainably and behave ethical.Identify and discuss micro and macro environmental factors that changed nature of modernbusiness in the global environment.In global environment there are micro and macro factors such as strength, weakness,opportunity and threats that impact on business.SWOT: SWOT analysis describe the micro factors of business. It incudes strength, weakness,opportunity and threats of weakness.Strengths: It is internal and positive factor of any business. It describes the excels anddiffer from the competition by loyal customers base, a strong brand names, unique technology, astrong balance sheets. It is capabilities and resources for any business that can be sued in order togain competitive advantage. Strength includes cost advantage of proprietary, strong brand name.For example Vodafone has huge brand mane with strong customers base. Weaknesses: This factor help company to prevent business by identify the weaknesses. Itcan prevent the positive output within projects are weakness. It has factors that like abundance ofrivalry within department, lack of funding, a weak intercommunication system. Weaknessesderail the business before its start (He, 2018). Other weaknesses that can have in business arepoor reputation, weak brand name, ineffective and high cost structure. Opportunities: opportunities are helpful in order to achieve business objectives. Thesefactor have vendors who want to work with company to gain objectives, market condition whichcan make the task desirable for segment of markets, the positive perception of the business.Apart from this additional opportunities are taking business courses, arrival of new technology,unfulfilled customers demand.Threats: These are external factors of business that affect the success of business orbusiness venture. It includes the negative public image, lack of vendors that are no available to1
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