Report on Business Environment: Micro, Macro Factors, Ethics

This report provides an in-depth analysis of the micro and macro environmental factors that significantly influence modern business operations. It explores the impact of customers, employees, political, legal, social, and technological factors on business strategies and global presence. The report further emphasizes the critical importance of ethical considerations and sustainability in business practices, highlighting social, cultural, economic, and ethical sustainability. It underscores the necessity of corporate social responsibility for building customer loyalty and trust. The report concludes that both micro and macro factors have a profound effect on businesses, driving changes in the nature of modern business within the global environment.

Context of business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Micro and macro environmental factors which are changed modern business...........................1
Importance of individual and organisation to manage and behave ethically..............................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
A business is defined as an organisation where goods and services are exchanged for earn
money for improve their effective and valuable changes (Hogan, Norton and Reynolds, 2018).
The report will show the dynamic changes and nature of the company about the global issues. It
operates the worldwide and provides services to their customers. It also the external and internal
factors that are affected to the company's process and activities.
MAIN BODY
Micro and macro environmental factors which are changed modern business.
Micro factor
This factor is affect to the business in negative way as well as the positive because of the
company is operating, capacity and financial resources. These factors are mentioned below:
customers
They are effective and important part of the organisation and business. They are play an
important role to achieve the goal of company. For example: Burberry is use and adopt the best
strategies which help to keep attracting the customers towards the company and its services. Like
management use the pricing and technology use for the making attractive packaging of products.
By these customers are attracted towards that and its help to increased the sales of company.
Packaging of product and some changes in existing products help for changed modern business
and its activities. Nowadays peoples are more modern and want effective and modern products.
This help to make effective global presence of the product at their local and international level. It
is effective and best for company for make global environment (Ropes and van Kleef, 2019).
Employees
Employees are best and important part of the organisation they are give their hard
contribution to achieve work goal and effective image of the company. Their skill and goods
behaviour are help to training and development process at hire level. This will helpful and
provide the best opportunities to an organisation or business for sustain it in the market and also
at global presences. For example; tesco is use the online sources for their recruitment and
selection process for hire the best and eligible candidates for work and vacant place at
organisation. Management is also provided the on the job training to their employees for best
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workforce. On the job training method is help to provide practical and theoretical knowledge of
work and roles of job.
Macro factor
The organisation is operates their layout at the global level then macro factor is also
impact to company and its operations. By making some changes in macro environmental factors.
Political factor
The political factor are affected to the business and its operations in negative and positive
way. It also changes the nature of business in the global context. This includes the governments
taxes and rates. For example: government is increased the rate of tax on the plant and machinery
uses. This give affect to modern business because of machinery uses (Srivastava and et.al.,
2016.). Machinery is the part of the every business and it helps to done work fast and in effective
manner. This impact to organisation by paying extra and changes nature of modern business.
Legal factor
These includes the rule and regulations of government which are affected to the business
and its work. For example: Stable governments laws are help to smooth functioning of a
business. This help to change the nature of business by adversing new policies and rules. In this
ways company have to use these policies and make rules according to that.
Social factor
This factor is affect to the business and its operation. This includes the taste and lifestyle.
Some changes the customers tastes and lifestyle then they are easily moved towards other needs.
This affect the business at global level and this also changes the nature of modern business at
global level.
Technological factor
Technological is constantly made exchanges in the business and its operation. Company
is use the effective and new technologies for their work and its effectiveness. This help to
reduced the gap between the employees of local and international level (Van Wormer and
Besthorn, 2017). Like phone and video conferencing is help for attend meeting with the
international clients and employees.
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Importance of individual and organisation to manage and behave ethically.
This refers to meeting of today's needs without compromising the needs of tomorrow. It
is necessary and important for an individual and organisation to behave ethically with relations to
the society, cultural, economic and environmental issues.
Social sustainability
This focus on maintaining and improving quality of the society by meeting then needs of
the current members. In an organisation, social sustainability is a critical part. It affects the
quality of business relations with the society and other stakeholder (Will and Mueller, 2019).
Cultural sustainability
It is deified as set of beliefs, morals, methods and collections of the human knowledge
and information. This is a transformation of characteristics for the future and younger
generations. Other hand organisation to not hamper the culture of the society. The organisation is
not produced harms the culture values of the society.
Economic sustainability
Economic sustainability is aims improve welfare of human by protection of natural
resources that is land, air, water, minerals etc. other hand the business should take care of the
environment because it gets all the resources from the environment only so the business has to
pay back also to the environment.
Ethical sustainability
Ethics are important and moral principles and values which are governed the behaviour
of employees in respect. It is important for the individuals because they are talk to the customers
and meet with them (Hogan, 2018). Other had organisation focus the integrity and authenticity of
the employees working. This help to build customers loyalty and trust at the organisation.
Sustainability is important for the individuals for recognised and understand the harms
and effects of their actions, other hand organisation keeping the business going and ability to
meet the needs of present customers while taking.
CONCLUSION
From the above study it had been concluded that the macro and micro environmental
factor has affect to business in both negative and in positive way. It has improved the changes in
the nature of modern business at global environmental. It had been also highlighted corporate
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social responsibilities has necessary for the individual and organisation to build loyalty and trust
of customers at organisation.
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REFERENCES
Book and journals
Hogan, M. C., Norton, J. N. and Reynolds, R. P., 2018. Environmental Factors:
Macroenvironment versus Microenvironment. In Management of Animal Care and Use
Programs in Research, Education, and Testing. 2nd edition. CRC Press/Taylor &
Francis.
Ropes, D. and van Kleef, H., 2019. Macro-Change in a Micro-Firm. In Evidence-Based
Initiatives for Organizational Change and Development (pp. 669-675). IGI Global.
Srivastava and et.al., 2016. Macro and Micro Dynamics for Empowering Trade, Industry and
Society. Macro and Micro Dynamics for Empowering Trade, Industry and Society,(Eds.
Van Wormer, K. and Besthorn, F., 2017. Human behavior and the social environment, macro
level: Groups, communities, and organizations. Oxford University Press.
Will, M. G. and Mueller, J., 2019. Change Management: The Organization as a Micro–Macro
System. In Management for Scientists (pp. 99-111). Emerald Publishing Limited.
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