Impact of Micro and Macro Environments on Business

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MGT501 Part A: Initial Statement of Intent
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Introduction:
The assessment is based on the development of the initial intent statement that has the aim to
presents the understanding of the conceptual element of the practices which related in the
business and their related context. This provides the critical evaluation of the point of
stakeholders which is based on the environment of the particular business. This also provides
the learning of self-reflection in the context of business which based on the economic
principle and environment of business dramatically. The assessment is self-reflection which
explain the main aim which demonstrates the significance of business and their environment
which is helpful to develop the new course.
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Self-reflection:
I have chosen this course which provides the learning there is business environment learning
which explains the best choice which is helpful to explain the various elements that
effectively affect the business. This assessment is helpful to identify the environmental
analysis which prevailing the environment of business and competitive market (Kelly &
Ashwin, 2013). This course is helpful to provide the learning of globalisation, digitalisation
and factors of economics which is helpful to process the business efficiently (Li, et. al.,
2015). This course is helpful in my academic career which builds the understanding of factors
that affect the business through the various strategies in an eventual manner. The
development of the business is based on the various elements that are helpful in effectively
making money and process the business through effective business learning. The micro and
macro business environment consist of the areas which carried out the activities of the
business in the proper manner (Tokuoka, et. al., 2012). On the other hand, the micro-business
environment gives an impact on the daily basis operations of the business. The macro
business environment gives an impact on the whole group of the business in an effective way.
On the other hand, I have chosen this course so that identifies the link between the business
environment and various activities of the business to carried out the various groups of the
business in the eventual manner (Whitfield & McNett, 2014). The globalisation and
digitalisation are briefly explained in this course which provides the learning that the
economic factor is helpful to play a significant role in the business context and make the
innovative changes in the business choice. I also choose this course so that identify the Micro
and Marco environment explanation which is related to the business activities in an eventual
manner (Valentine, et. al., 2014). I have interested in the business environment which explain
that the business and their environmental process in the effective way which also builds the
good knowledge of the business working process (Li, et. al., 2015). This explains the
business activities which get affected by the various business environment and also explain
the various elements in an eventual way.
I have chosen this course so that analyse the business factors in an eventual way and sustain
the knowledge which provides the learning that the activities of the business need the proper
management in the effective way (Kelly & Ashwin, 2013). The customers, media, suppliers,
employees, shareholders and competitors are the main elements which plays an essential role
in the activities of the business which need to operates the business in the effective way and
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also identify the positive and negative perspective of the business in the proper way (Li, et.
al., 2015). This is also explained in this report that the new and effective plans play an
important role company which is helpful to manage the activities of the business properly and
reduce the impact of various elements like micro and macro environmental effect.
I choose the PESTLE analysis in the identification of the macro environment and this is also
helpful to make the influence on the business which needs to resolve on time efficiently. This
also explains that the business environment needs to evaluate properly so that it also increases
my professional and practical knowledge as well (Whitfield & McNett, 2014). The certain
principle of the economic and business environment is effectively explained in the report
which is related to the understanding of the business. This course not only supports my career
but also elaborate the knowledge to success the business in the proper way. This is also
explained that I make the long-term goal in my career so that this is also helpful in my
professional career as well and build the ability to occur the opportunities properly. I also
chose the short-term goal in my career to set the small targets which is helpful to promote the
efficiency in the eventual way (Kelly & Ashwin, 2013). The concept of the business is
helpful to widen my knowledge and also explain the factors of the business in an effective
way to manage each activity efficiently. This is also helpful to build the knowledge that I
should make the steps in the initial level so that each task accomplishes effectively.
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Conclusion:
It is concluded from the report that this is the self-reflection which explain to the learner that
the business environment has needed the proper understanding which also elaborates on the
significance of the business environment in an effective way. The certain principle of the
economic and business environment is effectively explained in the report which is related to
the understanding of the business. This also elaborates the main aim of the reflection which is
the best learner outcome so that this is helpful to produce an effective course for business
learning. The assessment is self-reflection which explain the main aim which demonstrates
the significance of business and their environment which is helpful to develop the new
course. This assessment is helpful to include the path of the career which based on learner
and this is helpful to increase the knowledge as well.
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References:
 Kelly, P., & Ashwin, A. (2013). The business environment. Andover: Cengage Learning.
 Li, M., Wei, J., & McKiernan, P. (Eds.). (2015). Chinese management studies :
Innovation: Business environment, government policy and firm strategy(Business
environment, government policy and firm strategy: volume 9, issue 1). Bradford,
England: Emerald. (2015). Retrieved August 12, 2019, from INSERT-MISSING-
DATABASE-NAME.
 Tokuoka, K., & International Monetary Fund. Asia and Pacific Department. (2012). Does
the business environment affect corporate investment in India?(Imf working paper,
wp/12/70). Washington, D.C.: International Monetary Fund. (2012). Retrieved August 12,
2019, from INSERT-MISSING-DATABASE-NAME.
 Valentine, S. (Ed.). (2014). Organizational ethics and stakeholder well-being in the
business environment(Ethics in practice). Charlotte, North Carolina: Information Age
Publishing. (2014). Retrieved August 12, 2019, from INSERT-MISSING-DATABASE-
NAME.
 Whitfield, R., & McNett, J. (2014). A primer on sustainability : In the business
environment(First ed., Environmental and social sustainability for business advantage
collection) [First edition.]. New York, New York (222 East 46th Street, New York, NY
10017): Business Expert Press. (2014). Retrieved August 12, 2019, from INSERT-
MISSING-DATABASE-NAME.
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