Micro & Macro Environmental Factors
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Added on 2020-10-22
Micro & Macro Environmental Factors
Added on 2020-10-22
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Table of ContentsINTRODUCTION...........................................................................................................................1Task .................................................................................................................................................11. Identify and discuss micro and macro environmental factors that in your view, changednature of modern business in the global environment. ............................................................1Business Environment, 2017...........................................................................................................22. Discuss the reasons why you think it important that individuals and organizations tomanage responsibly, sustainably and behave ethically in relation to social, cultural, economicand environmental issues............................................................................................................3Conclusion.......................................................................................................................................4From above study it has been summarized that business environment affect all activity of...........4organization like performance and decision making. It is two type of environment like micro and..........................................................................................................................................................4macro it called internal and external factors respectively. So organization evaluate environment.4time to time for protect their decision making and performance. It also covered that organizationand individual has to take care of environment and culture for future generation..........................4REFERENCES................................................................................................................................5Business Environment. 2017 [ONLINE] Available through:<https://study.com/academy/.../what-is-business-environment-definition-factors-quiz.ht.>.........5
INTRODUCTIONBusiness environment means that business is surrounded from environment and its affect toperformance and decision making of organization. It includes internal and external factors aswell as micro and macro factors that impact business in positive and negative way. It is moreimportant aspect of any business. Factors include customers, suppliers, competitors and political,technology, economic and social factor that affect orgtanization. This report will be coverenvironment of business and impact of them (Alsaaty, Zenebe and Sengupta, 2016). Task 1. Identify and discuss micro and macro environmental factors that in your view, changed natureof modern business in the global environment. Business environment is part of business because it is surrounded from many factors ofenvironment. So it has two type like micro and macro. Micro environment is direct relate to firm operation and its factors competitors,suppliers, market intermediaries and customers and all of these influence regularly.Competitors – it majorly affects to organization because if increase competitors in market withsame product and same size so customers divided with different competitors. So company makedifferent kind of product and services for promote and improve their selling. So its also affect toglobal business.Suppliers – it is also influence to organization because it provides raw material, human resourceand technology etc and every organization has only one supplier so if supplier will shut downtheir services so it affects business. So organization has to keep in touch with different suppliersand evaluate their condition time to time.Customers – it includes whole sellers, retailers and domestic customer so it very important forevery business. So organization has to evaluate market condition like customer choice, fashion,trend etc because all things frequently change so its affect to business that provide satisfaction tocustomers through fulfill their need (Clarke and Xu, 2016).Market intermediaries – it includes whole seller retailer and agents and all these mediatorsbetween manufacture to customer. It all affects to business because if one suppliers working withtwo company so it attract with that company who give more benefit. So it affect all organizationbecause they has to make stability of mediator pay more money to them.1
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