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Micro and Macro Factors: Doc

   

Added on  2021-01-02

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Context of business(Project 1)
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Micro and macro factors.............................................................................................................1Importance of individual and organisations in managing responsibly, sustainably and behaveethically in social, culture and economic issues..........................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
Micro and Macro Factors: Doc_2

INTRODUCTIONBusiness refers to the group of economic activities such as regular production,distribution, etc. in order to satisfy consumers desire. In industry, these days, there are manychanges which are taking place, hence it is important to regular analyse changes which are takingplace in environment. In this report, there is discussion about micro and macro factors changedin modern business and importance of individuals and organisations in managing businessoperations in ethically and sustainable (Azadeh and et. al., 2016). MAIN BODYMicro and macro factorsMicro factors refers to the components which are directly related to business operations.There are many parties which are directly related to business such as suppliers, consumers, etc.In modern era, there is effect of these factors on business growth and development. Some microenvironment factors are discussed as under-Suppliers are the people who provide material for conducting business operations insmooth and relevant manner. In past years, there was less suppliers as compared to recentmarket. But in current market at global level, there are different suppliers who provides productand services to organisation. Hence there is more competition in market. Suppliers of modernbusiness use various techniques such as discounts, offers, credit policies to maintain their sales. Shareholders are the people who have stake in organisation in the form of shares. Incurrent market, there is requirement of more funds to expand business at international level.Hence there is more scope of raising funds through share capital in current market. As comparedto past years, shareholders are more aware and have more interest in operations. Hence in currentmarket, organisations are working in ethical manner to maintain good relations withshareholders.Employees are the core asset for organisation in order to maintain same brand image inindustry. In past years, employees works to get monetary benefits, while in current environment,they need non monetary benefits as well (Liefbroer and et. al., 2015). These days consumerswants familiar environment in organisation, implementing new and innovative approaches, etc.This makes modern environment employees different from past years. 1
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