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Fundamental Analysis

Macro Environment: What It Means in Economics, and Key Factors

Pete Rathburn is a copy editor and fact-checker with expertise in economics and personal finance and over twenty years of experience in the classroom.

What Is a Macro Environment?

A macro environment refers to the set of conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. The macro-environment is closely linked to the general business cycle as opposed to the performance of an individual business sector.

Key Takeaways

The macro-environment refers to the broader condition of an economy as opposed to specific markets.
The macro-environment can be affected by GDP, fiscal policy, monetary policy, inflation, employment rates, and consumer spending.
The state of the macro environment affects business decisions on things such as spending, borrowing, and investing.

Investopedia / Paige McLaughlin

Understanding the Macro Environment

The macro-environment refers to how the macroeconomic conditions in which a company or sector operates influence its performance. Macroeconomics deals with aggregate production, spending, and the price level in an economy as opposed to individual industries and markets.

The amount of the macro environment's influence depends on how much of a company's business is dependent on the health of the overall economy. Cyclical industries are heavily influenced by the macro environment, while basic staple industries are less influenced. Industries that are highly dependent on credit to finance purchases and business investments are strongly influenced by changes in interest rates and global financial markets.

The macro-environment can also directly affect consumers’ ability and willingness to spend. Luxury goods industries and big-ticket consumer goods can be highly impacted by fluctuations in consumer spending. Consumers’ reactions to the broad macro-environment are closely monitored by businesses and economists as a gauge for an economy’s health.

Factors of the Macro Environment

Analyzing the macro environment is an important part of strategic management. Business analysts often conduct a PEST (political, economic, socio-cultural, and technological) analysis to identify macro-economic factors that currently affect or in the future may affect business. Some of the key factors composing the macro environment include the following:

Gross Domestic Product

Gross Domestic Product (GDP) is a measure of a country’s output and production of goods and services. The Bureau of Economic Analysis releases a quarterly report on GDP growth that provides a broad overview of the output of goods and services across all sectors. An especially influential aspect of GDP is corporate profits for the economy, which is another measure of an economy’s comprehensive productivity.

Inflation is a key factor watched by economists, investors, and consumers. It affects the purchasing power of the US dollar and is closely watched by the Federal Reserve. The target rate for annual inflation from the Federal Reserve is 2%. Inflation higher than 2% significantly diminishes the purchasing power of the dollar, making each unit less valuable as inflation rises.

Employment levels in the United States are measured by the Bureau of Labor Statistics, which releases a monthly report on business payrolls and the status of the unemployment rate. The Federal Reserve also seeks to regulate employment levels through monetary policy stimulus and credit measures. These policies can ease borrowing rates for businesses to help improve capital spending and business growth, resulting in employment growth.

Consumer Spending

Consumer spending made up 54% of the U.S. GDP in the second quarter of 2021 and is widely considered to be an important indicator of macroeconomic performance. Slow growth or decline in consumer spending suggests a decline in aggregate demand, which economists consider to be a symptom or even a cause of macroeconomic downturns and recessions.

Monetary Policy

The Federal Reserve’s monetary policy initiatives are a key factor influencing the macro environment in the United States. Monetary policy measures are typically centered around interest rates and access to credit. Federal interest rate limits are one of the main levers of the Federal Reserve’s monetary policy tools. The Federal Reserve sets a federal funds rate for which federal banks borrow from each other, and this rate is used as a base rate for all credit rates in the broader market. The tightening of monetary policy indicates rates are rising, making borrowing more costly and less affordable.

Fiscal Policy

Fiscal policy refers to government policy around taxation, borrowing, and spending. High tax rates can reduce individual and business incentives to work, invest, and save. The size of a government’s annual deficits and total debt can influence market expectations regarding future tax rates, inflation, and overall macroeconomic stability. Government spending drives borrowing and taxation; it is also widely used as a policy tool to try to stimulate economic activity during slow times and make up for sluggish, consumer spending and business investment during recessions.

What Are the Differences Between a Micro and Macro Environment?

The micro environment refers to the factors within a company that impact its ability to do business. Micro environmental factors are specific to a company and can influence the operation of a company and management's ability to meet the goals of the business. Examples of these factors include the company's suppliers, resellers, customers, and competition.

The micro environment is specific to a business or the immediate location or sector in which it operates. In contrast, the macro environment refers to broader factors that can affect a business. Examples of these factors include demographic , ecological, political, economic, socio-cultural, and technological factors.

What Is Macro Environment Analysis?

Macro environment analysis is part of a company's strategic management that enables it to analyze and identify potential opportunities and hazards that might impact the business. The goal is to prepare management in advance with information that assists them in making operational decisions.

Some companies will employ analysts trained to evaluate macro-environmental factors and provide recommendations based on their research. These analysts will review broad macro-environmental forces related to such factors as politics, the economy, demographics, and technology.

What Is an Example of a Macro Environment?

Political factors are an example of a macro-environmental force that can impact a business. These include laws or government regulations governing companies or the industry in which they operate.

For example, a government can enact tariffs that increase the cost of an imported good a company needs to manufacture its products. Rather than paying the tariff, the company can look for a domestic source for these goods that is cheaper than the imported good. If they can't find a domestic source, they will have to purchase the more expensive imported goods. In many cases, the company will need to pass the additional cost on to the consumer in the form of increased product prices. This could reduce the company's revenue if sales decrease because of the company's higher prices.

U.S. Bureau of Economic Analysis. " Gross Domestic Product ." Accessed Sept. 3, 2021.

U.S. Bureau of Economic Analysis. " U.S. Economy at a Glance ." Accessed Sept. 3, 2021.

Federal Reserve Board. " Why does the Federal Reserve aim for inflation of 2 percent over the longer run? " Accessed Sept. 3, 2021.

U.S. Bureau of Labor Statistics. " Local Area Unemployment Statistics: Unemployment Rates for States ." Accessed Sept. 3, 2021.

U.S. Bureau of Labor Statistics. " Current Employment Statistics - CES (National) ." Accessed Sept. 3, 2021.

Federal Reserve Bank of St. Louis. " Real GDP and Its Components, Quarterly, Seasonally Adjusted ." Accessed Sept. 3, 2021.

Federal Reserve Board. " Review of Monetary Policy Strategy, Tools, and Communications: 2019-2020 Review: Overview ." Accessed Sept. 3, 2021.

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Macro Environment Essay

Macro Environment

Q.1) Explain How Macro Environmental Factor Affect International Business Product With An Example. There are many factors in the macro-environment that will affect the decisions of the managers of any organization. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. To help analyze these factors managers can categories them using the PESTEL model. This classification distinguishes between: Political factors: These refer to

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The Macro Environment

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The Cositive And Positive Impacts Of The Macro Environment Has Upon Business Operations

impacts the Marco environment has upon business operations, supported by Specific Examples A macro environment is the condition that exists in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. (Ref:Joblin Margreat 2001) A PESTEL analysis is a background or tool used by marketers to analyses and monitor the macro-environmental (external

Factors Of Macro Environment

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Micro / Macro Environment

Micro Macro A company 's marketing environment is made up of the ACTORS AND FORCES outside marketing that affect marketing management 's ability to build and maintain successful RELATIONSHIPS with target customers. The marketing environment is made up of the micro environment and the macro environment. The micro environment consists of the ACTORS CLOSE to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors

External Macro Environment

Introduction 3 2. External macro-environment 3 2.1 Social and cultural forces 3 2.1.1 Changing gender roles 3 2.1.2 Attitude towards health, nutrition and well-being 3 2.1.3 Cultural beliefs in a country 4 2.2 Technology 4 2.2.1 Advantages of technology 4 2.2.2 Disadvantages of technology 5 2.3 Demography 5 3. Conclusion 6 4. References Lists 7 1. Introduction This report is discussing about how three major forces of macro environment affecting an organisation’s

Analysing the Macro-Environment

Macro-environment analysis of The Coffee Company for the Chai Latte powder product The Coffee Company is 100% privately owned and operated company. It has been in operation since 1998 and has over 10 years experience in the coffee manufacturing market. The Coffee Company provides fresh roasted coffee to over 1000 food service customers across Australia and its retail products are available in leading Australian retailers. The Coffee Company plant is based in Moorabbin and uses market leading

Macro and Micro Environment

There are two kinds of external marketing environments; micro and macro. These environments’ factors are beyond the control of marketers but they still influence the decisions made when creating a strategic marketing strategy. micro and macro environments Micro Environment Factors The suppliers: Suppliers can control the success of the business when they hold the power. The supplier holds the power when they are the only or the largest supplier of their goods; the buyer is not vital to the

Definition of Macro Environment

Macro environment refers to all those external environment factors that immensely influence the business success, strategies, and decision making. These external factors that highly influence the business success are not controlled by the organization easily. The extensive and wide-ranging set of economic conditions is defined as a macro environment. Read the article below to know more about the macro environment.

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Macro Environment Meaning

Macro Environment refers to all those factors or forces that indirectly affect the business operation and working conditions. These factors are uncontrollable and the organization is not capable of exercising any control over them. The macro environment can be broadly classified into an economic environment and a non-economic environment.

Classification of Macro Environment

The two broad categories of Macro Environment are:

Economic Environment

Non-economic Environment.

Let us understand the difference between the two terms.

Economic Environment- It involves macroeconomic parameters, economic system, different stages of the business cycle, financial system, and more. Different macro-environment factors affecting the economic system directly have an impact on business success. The existing economic environment of any business is quite complex and not hassle-free to comprehend.

Non-economic Environment- It involves government policies, demographic factors, legal framework, social system, political system, technological development, and more. Generally, a non-economic environment has a robust impact on the success of any business.

Macro Environment Factors

Following are the different macro environment factors affecting the business success. Socio-Culture Environment: It involves social values and culture that play a significant role in the effective functioning of any firm. It means whenever there is any change in the social environment, it can have a straight or unintentional effect on the business. The term culture includes traditions, several behavior patterns, values, and even critical facts. Cultural factors also affect the organization's success in the long haul. Some of the social and cultural factors affecting business productivity include religion and beliefs, different lifestyles adopted by humans, social classes, the growth rate of population, life expectancy rates, and many more.

Technology Factors

As the time passes, there is constant change in technology due to which more and more firms are concerned to keep their services updated. Technology is not limited to the IT sector only. It involves the manufacturing process, products, advanced techniques, and many more. Technological developments act as a beneficial tool for any company's success. Some of the significant and most common macro-environment factors related to technology include automation, engine performance and efficiency, wireless charging, internet connectivity, and many more.

Technology factors are related to the skills and abilities that are used in the production as well as the material and technology that a particular product requires to be made. The technology factors are important and can have a significant impact on how well your business is running. It figures out even the most basic factors such as what kind of maintenance trolley is used to preserve your tools and equipment as long as possible.

Some of the technology factors that affect business include:

Internet Connectivity

3-D Technology

Wireless Charging

Security-related to Cryptography

Speed or power of computer calculation

Engine Performance and Efficiency

Ecology and Physical Environment: Ecology and physical environment play an immense role when determining the success of any firm. For instance, global warming, a revolutionary change in the physical environment, has started alarming the rainfall in different areas. As a result, it may impact the crops. This can cause a scarcity in the production of raw materials like cotton. So, whether it’s topographical elements, climate changes, weather conditions, or any other ecological factor, all are crucial in the macro business environment.

Demographic Environment: Demography refers to the study of the human population especially concerning sex, age, education, occupation, income size, density, cultural characteristics, lifestyle, etc. Such information about the population is significant for any business to flourish. It not only helps in selecting items to produce, but also helps to select the channel of distribution advertising media, choice of marketing method, choice of manufacturing site, and other business decisions.

The choice of manufacturing site would be influenced by the population size. However, the improved transport facilities have enabled the buyers to shop at distant places, the sellers may therefore sometimes find that accommodation in thickly populated areas may offer goods and services at extensively lower prices by establishing themselves at a few distance away, hence attracting a large number of customers.

The policy of balanced regional development encourages the government to offer infrastructure and basic facilities at cheaper rates to attract business in backward regions. This, in turn, benefits the business, not only in terms of the lower cost of such facilities but also the labor can be easily available at lower rates. It also helps to flourish all the ancillaries and supporting business. For example, the establishment of a cement factory or steel plant in the backward regions will generate employment not only in the factory itself but a completely developed market to fulfill consumption and other needs of those employees shall also come up.

Therefore, the businesses will have the opportunity to establish canteen/hotels, entertainment centers, textile shops, provisional stores, medical shops, and so on. Besides, the government observes the demographic considerations in terms of their licensing policy. Manufacturing units, specifically those which cause air or noise pollution are not permitted to operate in congested areas. That is the reason why every state government has established industrial areas away from residential areas.

Political and Legal Factors: The market flourishes according to the political and legal environment in different areas. This implies that every business needs to be updated with such forces globally to be able to make the right decisions. The general legal factors include:

Employment Law

Discrimination Law

Health and Safety Law

Import and Export Law

Advantages of Macro Environment

The macro-environment analysis enables the economy to identify the potential threats and also suggest measures to control it.

The macro-environment survey helps in budgeting the economic and financial requirements of the forthcoming years considering the macro-environmental factors that will play a pivotal role.

The macro-environment analysis helps in attaining the desired objectives by examining the factors that affect the macro environment.

The macro-environment analysis highlights the strengths and weaknesses of the economy as a whole as the impact of the macro factors can be extreme.

Disadvantages of Macro Environment

There is a greatest danger of administering the delicate information which comprehends the macro-environmental factors.

Data on the macro-environmental factors are not available easily and need to be collected from various sources.

There might be differences in the rules and regulations of the two countries. Hence what is impacting one country may not be that impacting the other country.

Political stability is one of the most important factors to have healthy conditions in the economy as all the top-level decisions are taken by the political leaders. In the absence of political stability, it would be difficult for any country to flourish in the future as the political will is not there to boost the economy ahead.

In short, Macro Environment factors are the factors that are beyond for the organization to control. An organization can change its policies considering the macro environment conditions that can affect the business but cannot change the macro environment conditions itself. The demographic factors, political factors, technology factors, social-cultural factors, and natural factors are some of the factors that should be analyzed while formulating marketing strategies or manufacturing products.

FAQs on Macro Environment

1. Why does the macro environment matter the most?

The macro-environment can determine whether the business will flourish, whether consumers will spend more, whether seniors will have sufficient funds for retirement, whether homelessness will rise, and many other conditions. In turn, the macro environment can advance or change government policy, regulatory change, and even encourage or discourage entrepreneurship. Also, many businesses fluctuate with the business cycle and hence are very attentive to macro-environmental conditions.

2. What is the purpose of macro environment analysis?

The purpose of macro environment analysis is a significant part of a company's strategic environment. It enables an organization to analyze and identify potential opportunities and hazards that might affect the business. The aim is to prepare management in advance with information that helps them in making business operational decisions.

3. Mention any one example of a macro environment that affects business?

Political factors are an example of a macro-environment that can affect the business. This includes laws or government rules and regulations for the companies and industries in which they operate. For example, a government can execute a tariff which limits the cost of imported goods a company needs to manufacture its products. Instead of paying high tariff costs, a company can look for domestic sources of goods that are cheaper than imported goods. If the company cannot find a suitable domestic source, they will be bound to purchase the more expensive imported goods. In many cases, the company passes this cost to consumers which increases the product price for the customers. This can decrease the company revenue if the sale decreases because of the higher product price.

4. What are the different examples of macro-environment?

The Macro-Environment usually has different forces. These forces usually include Economic, Demographic, Socio-Cultural, Political, Technological, and Political. Considering the specific examples, this might even be a change in the interest, change in the taste, competitors, government regulations and disastrous water.

5. What is Macro-Environment Analysis?

PEST helps you to perform macro environment analysis. In the examination, it will analyze economic, social, political, and technological factors. No firm can control them on their own. Indirectly or directly, these factors put a major impact on the businesses. Also, it can affect the industries.

6. How Does a Macro Environment Affect the Microenvironment?

Commonly, an environment which is not specified for a firm can put a great impact on the working of other businesses. This environment is the Macro Environment. However, micro-environment can only affect some factors or businesses. Macro-environment can affect large business entities.

Macro Environment Forces (Fully Explained)

The macro-environment is composed of forces that are external to the firm. Although the degree of impact varies, these forces affect all industries and the firms competing in them.

An external environment of an organization includes forces that it can readily affect as well as forces that largely lay beyond its influence. The latter set of forces are said to exist within the macro-environment. Because this environment often has a substantial influence on an organization’s level of success, firms must track trends and events as they evolve and anticipate their implications.

The challenge to each firm is to scan, forecast, and assess the elements in each force to predict their effects on it. Effective scanning, forecasting, and assessing are vital to the firm’s efforts to recognize trends and events, classify them as strategic factors, and then evaluate them as opportunities and threats.

PESTEL analysis is one important tool that firms can rely on to organize forces within the macro-environment and to identify how these forces influence industries and the firms within them.

PESTEL is an anagram, meaning it is a word created by using parts of other words. In particular, PESTEL reflects the names of the six forces of the macro-environment: (1) political, (2) economic, (3) social, (4) technological, (5) environmental, and (6) legal.

Firms carefully examine each of these six segments to identify major opportunities and threats and adjust their firms’ strategies accordingly.

Force 1: Environmental Force (adsbygoogle = window.adsbygoogle || []).push({});

Environmental force refers to potential and actual trends and events in the physical conditions of the natural environment within which organizations operate.

The natural environment is the ultimate source of many inputs such as raw materials, energy which business firms use in their productive activity. In fact, the availability of natural resources in a region or country is a basic factor in determining business activity in it.

There are many parts or attributes of the environmental force that firms consider as they try to identify trends and events in the natural environment.

Concerned with trends oriented to sustaining the world’s natural environment, firms recognize that ecological, social, and economic systems interactively influence what happens in this particular environment force and that they are part of an interconnected global natural society.

Companies across the globe are concerned about the physical environment, with actions taken to main corporate social responsibility and nature sustainability.

Until recently businesses had generally overlooked the serious ecological effects of their activities. Driven purely by the motive of maximizing profits, firms cause irreplaceable damage to exhaustible natural resources, especially minerals and forests. By creating external detrimental diseconomies, they imposed heavy costs on society.

Ecology refers to the relationship between humans and nature and among elements of nature themselves. Human beings, air soil, landforms, flora and fauna, rivers, oceans, and mountains must exist together in harmony. But the harmony is disrupted by industrial establishments. The effluents they discharge, the noise they generate, the smoke they eject, and their massive utilization of resources cause disruption of ecology. Firms need to take ecological trends and events into considerations while formulating strategies.

In a comprehensive sense, an increasing number of companies are interested in sustainable development, which is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Laws and regulations have been passed for the conservation of natural resources and the prevention of environmental pollution. These laws have imposed additional responsibilities and costs for business firms.

With a focus on the future, the analysis of the macro-environment and specifically environment force allows firms to identify its opportunities and threats.

Identifying anticipated changes and trends among forces and their elements is a key objective of analyzing this natural environment.

Due to the importance to determine the firm’s opportunities and threats, and its strategies, it is necessary to have a top management team with the experience, knowledge, and sensitivity required to effectively analyze the conditions in a firm’s natural environment and in general, its macro-environment.

Environmental force includes geographical and ecological factors such as natural disasters, pollution levels, weather and climatic patterns, water and forest resources, minerals and oil reserves, or port facilities.

The availability of minerals such as iron, coal, etc. in a region influence the location of certain industries in that region. Certain weather and climatic conditions also affect the location of certain business units. Weather and climatic conditions influence the demand pattern for clothing, building materials for housing.

Force 2: Social Force (adsbygoogle = window.adsbygoogle || []).push({});

Social force refers to the way in which changing social values affect an industry. It is concerned with a society’s attitudes and cultural values.

It consists of a value system and accordingly the society’s traditions, attitudes, beliefs, desires, expectations, aspirations, habits, trends, and customs that generate opportunities and threats to firms.

These are developed from cultural, ecological, demographic, religious, education, and ethnic conditions.

Social force involves the shared beliefs and attitudes of the population. People learn to behave in particular ways as a result of the feedback from the rest of society. Behavior and attitudes that are regarded as inappropriate are quickly modified, and also people develop expectations about how other people should behave.

Changes that take place in society are caused by changes in the value system that is accepted as right for the members of the society. Thus, what a particular age group is to wear, eat, entertain is decided by cultural values.

Because attitudes and values form the cornerstone of society, they often drive demographic, economic, political/legal, and technological conditions and changes. They essentially create opportunities and threats.

Social trends are shaping the way people live, work, produce and consume. The change in the social environment creates a different type of consumers and consequently the need for different products and different services.

Members of a society wield important influence over business firms. People these days do not accept the activities of business firms without question. Activities of business firms may harm the physical environment and impose heavy social costs.

Businesses should consider the social implications of their decisions. This means that companies must seriously consider the impact of their actions on society. When a business firm in its decision-making takes care of social interests, it is said to be socially responsible.

Social responsibility is the felt obligation or self-enforced duty of business firms to serve or protect social interests. By doing so they promote social well-being. Good corporate governance should be judged not only by the productivity and profits earned by a business firm but also by its social welfare promoting activities.

Social responsibility is related to ethics. The discipline of ethics deals with what is good and bad, or right and wrong, or moral duty and obligation.

Individual societies’ attitudes and cultural orientations are anything but stable, meaning that firms must carefully scan, forecast, and assess them to recognize and study associated opportunities and threats. Successful firms must also have an awareness of changes taking place in the societies and their associated cultures in which they are competing.

There is an increasing trend for companies to expand their operations and reach beyond the boundaries of their home country.

Globalization of business provides opportunities to access larger potential markets and factors of production. At the company level, globalization means two things. First, the company commits itself heavily to several manufacturing locations around the world and offers products in several diversified industries. Second, the ability to compete in the domestic market with foreign competitors. However, globalization of business involves many risks like political, social, and economic.

The concept of a global village has changed how individuals and organizations relate to each other. The global environment represents the process of liberalization. This has resulted in the easy entry of foreign business organizations which further resulted in stiff competition and efficiency. Ultimately, liberalization has helped us in achieving a high growth rate, easy availability of goods at competitive rates, a healthy and flourishing stock market, high foreign exchange reserve, low inflation rate, strong rupee, good industrial relations, etc.

Some of the important factors and influences operating in the social environment are (1) consumption habits, (2) languages, (3) beliefs and value systems, (4) customs and tradition, (5) tastes and preferences, (6) educational levels, and (7) social concerns.

Force 3: Political Force (adsbygoogle = window.adsbygoogle || []).push({});

The political environment consists of factors related to the management of public affairs, general stability, government attitudes, and their impact on the business of an organization.

The political environment has a close relationship with the economic system and economic policies.

The political philosophy of the government wields a great influence over business policies. Organizations are conscious of the political environment as the influence of the political environment on their business is enormous. Most governmental decisions related to firms are based on political considerations in line with the political philosophy of the government.

This environment is the arena in which organizations and interest groups compete for attention, resources, and a voice in overseeing the body of laws and regulations guiding interactions among nations as well as between firms and various local governmental agencies.

Essentially, the environment is concerned with how organizations try to influence governments and how they try to understand the current and anticipated influences of those governments on their competitive actions and responses.

The direction and stability of political factors are major considerations for understanding the macro-environment and formulating strategies. Political factors define the legal and regulatory parameters in which an organization operates.

Government guides and controls the business through its regulations and policies. Thus the type of government running a country is a powerful influence on any business. A firm must consider the changes in the regulatory framework and their impact on the business.

The political system prevailing in a country decides, promotes, fosters, encourages, shelters, directs, and controls the business activities of that country. A stable, honest, efficient, and dynamic political system ensures the political participation of people and assures personal security to the citizens. It is a primary factor for economic development. The political system comprises three vital institutions: legislative, executive or government, and judiciary.

Fair-trade decisions, antitrust laws, tax policies, minimum wage legislation, pollution control policies, pricing policies, and many other actions are placed in front of firms with the aim of protecting consumers, employees, the general public, and the environment.

These factors reduce the potential profits of firms.

However, some political actions (subsidy, patent laws, and product research grants) are designed to benefit and protect companies. So, the political system either may limit or benefit the firms.

Some of the important factors and influences operating in the political environment are as follows: (1) the general state of political development; (2) the degree of politicization of business and economic issues; (3) the level of political morality; (4) the constitutional framework, directive principles; (5) political stability, ideology and practices of the ruling party;(6) policies related to licensing monopolies, foreign investment, and finance of industries; (7) policies related to distribution and pricing and their control; (8) policies related to imports and exports; and (9) the policies related to the public sector and small-scale industries.

Commonly, firms develop a political strategy to specify how they will study the political environment as well as approaches they might take (such as lobbying efforts) in order to successfully deal with opportunities and threats that surface within this environment at different points in time.

Force 4: Economic Force (adsbygoogle = window.adsbygoogle || []).push({});

Economic force refers to the nature and direction of the economy in which a firm competes or may compete.

It consists of macro-level patterns related to the areas of production and distribution of wealth, income, expenditures, and resources that have an impact on the business of an organization.

Economic factors encompass such areas as the boom/bust cycle and the growth in unemployment in some parts of the country as a result of the closing of traditional industries.

The economic force also includes the general economic situation in the region and the nation, conditions in resource markets (money market, manpower market, raw material components, services, supply markets, and so on) which influence the supply of inputs to the enterprise, their costs, quality, availability, and reliability of supplies.

Economic force affects the general health and well-being of a nation or the regional economy of an organization, which in turn affects companies’ and industries’ ability to earn an adequate rate of return.

Economic factors decide the nature and direction of the economy in which a firm operates. Strategic decisions are influenced by economic factors; therefore, firms must monitor the economic environment continuously.

Business depends on the economic environment for all the required inputs and also to sell the finished goods. The dependence of business on the economic environment is not surprising because business is one unit of the total economy.

These concepts present both opportunities as well as threats for the business firms. The survival and success of each and every business enterprise fully depend on its economic environment. Ideally, firms want to pursue growth opportunities in regions and nations where they exist while avoiding the threats of slow growth periods in other settings.

It is challenging for firms studying the economic force to predict economic trends and events that may occur and their effects on them. Firms must regularly scan, monitor, forecast, and assess the health of their host nation as well as the health of the economies outside it.

These economic forces include elements such as interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy.

The 4 most important factors in the economic force are (1) economic conditions, (2) economic system, (3) economic policy, (4) economic growth, (5) interest rate, and (6) exchange rate.

Factor 1: Economic Conditions

Economic conditions refer to a set of economic factors that have a great influence on business organizations and their operations. They are the determinants of economic prosperity and the well-being of the community.

These economic factors help in improving the pace of economic growth. National income, per-capita income, economic resources, distribution of income and wealth, economic development are the variables that make economic prosperity. These include gross domestic product, per capita income, markets for goods and services, availability of capital, foreign exchange reserve, growth of foreign trade, the strength of the capital market, etc.

The income and its distribution determine the business prospects and, hence business strategies. In an economy where it is low and the per-capita is comparatively low, results in poor demand. This pessimistic situation does not attract business people to invest and carry on the manufacturing and marketing activities.

On the other hand, in case of those economies where the income of the economy is rising and that leads to more and more investments and entering into industrial and marketing activities.

Factor 2: Economic System

The economic system is an arrangement that encourages the generation of income, its distribution by use of resources at its disposal based on some accepted economic philosophy.

The economies all over the world are broadly wedded to cabalistic, socialistic, and communistic as pure breeds or hybrid economies called mixed economies. The types of the economic system, that are, socialist, capitalist, or mixed economy provide an institutional framework within which business firms have to work.

Capitalism: A capitalist economy is an economy where the laws of demand and supply operate freely. The capitalist system is one that is characterized by private ownership of the means of production, individual decision-making, and the use of market mechanisms to carry out the decision of individual participants and facilitate the flow of goods and services in the market.

Capitalism grants the maximum economic freedom in managing economic activities and socialism speaks of utmost control by the state and mixed economy has the freedom as well as the state’s role where both public and private sectors co-exist supporting one another.

Socialism: Socialism is an economic system where the means of production are either owned or controlled by the state and where the resources allocation, investment pattern, consumption, income distribution, etc., are directed and regulated by the state.

Mixed Economy: Mixed economy is the outcome of a compromise between two diametrically opposing schools of thought. In a mixed economy, private, public, and joint sectors and the like all have some say in the major decisions that influence the functioning of the economy.

Factor 3: Economic Policy

An economic policy is a set of decisions that are formulated and implemented by the government. All business activities and operations are directly influenced by the economic policies framed by the government from time to time.

Some of the important economic policies are (1) industrial policy; (2) fiscal policy; (3) monetary policy; (4) foreign investment policy; and (5) export-import policy.

Factor 4: Economic Growth

Economic growth is the rise and sustaining per capita income of every individual who is a member of the economy. It is the economic growth rate that speaks of increased consumption expenditure, lowering of pressure in the industrial field that offers more opportunities and makes the firms withstand the rigors of threats.

Economic growth leads to an expansion in customer expenditures, tends to produce a general easing of competitive pressures within an industry. This gives companies the opportunity to expand their operations and earn higher profits.

Economic decline (a recession) leads to a reduction in customer expenditures, it increases competitive pressures. It reduces consumption expenditure builds up the pressure and lowers down the profitability.

Economic decline frequently causes price wars in mature industries. In general, firms seek to compete in relatively stable economies with strong growth potential.

Factor 5: Interest Rates

Interest rates influence the demand for goods and services in the economy when the goods and services are bought through borrowed funds. In case the rate of interest is low, the demand for products may be consumer durables or non-durables. This gives fillip to the industries to grow.

The level of interest rates can determine the demand for a company’s products. Interest rates are important whenever customers routinely borrow money to finance their purchase of these products. Interest rates also have an impact on the sale of autos, appliances, and capital equipment, to give just a few examples. For companies in such industries, rising interest rates are a threat and falling rates an opportunity.

The cost of capital is also dependent on interest rates. The companies, when they are getting capital at the lowest rates will be a boosting dose for all companies to have ambitious plans and strategies in case of borrowed funds.

Factor 6: Exchange Rates

Exchange rates stand for the currency conversion into any other currency, which may be hard or soft.

Currency exchange rates define the value of different national currencies against each other. Movement in currency exchange rates has a direct impact on the competitiveness of a company’s products in the global marketplace. A low or declining dollar reduces the threat from foreign competitors while creating opportunities for increased sales overseas.

Factor 7: Price Inflation

Price inflation can destabilize the economy, producing slower economic growth, higher interest rates, and volatile currency movements.

If inflation keeps increasing, investment planning becomes hazardous. The key characteristic of inflation is that it makes the future less predictable. In an inflationary environment, it may be impossible to predict with any accuracy the real value of returns that can be earned from a project 5 years hence. Such uncertainty makes companies less willing to invest. Their holding back in turn depresses economic activity and ultimately pushes the economy into a slump.

Thus, high inflation is a threat to companies.

Force 5: Technological Force (adsbygoogle = window.adsbygoogle || []).push({});

The technological force is about knowledge applied and the materials and machines used in the production of goods and services that have an impact on the business of an organization.

This force includes the institutions and activities involved in creating knowledge and translating that knowledge into new outputs. Pervasive and diversified in scope, technological changes affect many parts of societies. These effects occur primarily through ideas, products, processes, methodologies, and materials.

For many enterprises, technology is the most dynamic of all environmental factors. Among all the forces of the external environment, technological force exerts considerable influence on business. The impact of technological developments on business strategy is not only fast but also far-reaching.

Scientific research for technological improvement and innovation in products and services is a regular activity in most of the big industrial organizations.

Technological change can make established products obsolete overnight and simultaneously create a host of new product possibilities.

Rapid developments in technology exert a powerful influence on all organizations and not just on those operating in a high-tech environment. The combined impact of computer, digital technology, and telecommunications affects most of private and public sector undertakings.

The strategic implications of changing technology are as follows: (1) it can change relative competitive cost positions within a business; (2) it can create new markets and new business segments, (3) it can collapse or merge previously independent business by reducing or eliminating their segment barriers, (4) it can change the rate of new product development, (5) it can increase automation and advancement in product and service industries.

Technology force has the potential for changing the competitive structure of many industries.

It often lowers barriers to entry and reduces customer switching costs, changes that tend to increase the intensity of rivalry in industry and lower both prices and profits. The resulting increase in rivalry has given advertisers more choices, enabling them to bargain down the prices that they must pay.

In order to survive and grow in the market, a firm has to adopt technological changes from time to time.

Given the rapid pace of technological change and risk of disruption, it is vital for firms to thoroughly study the technological force. The importance of these efforts is suggested by finding that early adopters of new technology often achieve higher market shares and earn higher returns.

Thus, both large and small firms should continuously scan the macro-environment to identify potential substitutes for technologies that are in current use, as well as to identify newly emerging technologies from which their firm could derive a competitive advantage.

The improvement in technology can also raise the total factor productivity of a firm and reduces the unit cost of output. Thus, the development of technology can reduce or increase opportunities for a firm.

It can reduce opportunities when a firm is not able to see the technological changes taking place in the industry. Creative technological adoptions can suggest new opportunities for new products, or improvements in existing products, improving service quality, reducing manufacturing cost, and deliver products to end-users. Technological developments can have a sudden and dramatic effect on an organization’s internal environment.

Thus, firms particularly those in turbulent growth industries must strive to understand both the existing and probable future technological advances that can affect their products and services. Firms need to monitor the technological advancements taking place around and formulate strategies to suit the changes.

The use of superior technology by a firm gives it a competitive advantage over its rival firms.

The use of a particular technology by a firm for its transformation process determines its competitive strength. Therefore, technological development plays a vital role in enhancing the competitive strength of business firms.

Competition between firms in the domestic economy and in international markets ensures that the firms will try to improve the technology they use because failure to do so would pose a threat to their survival. In the protected markets, technological improvements are slow and firms are able to survive for a long period without making technological changes.

There are 9 major factors of technology force.

They are as follows: (1) Sources of technology like company sources, external sources, and foreign sources; (2) technological development, stages of development change and rate of change of technology and research and development; (3) impact of technology on human beings, the man-machine system and the environmental effects of technology; (4) communication and infrastructural technology and technology in management; (5) technological obsolescence; (6) pull of technological change; (7) opportunities arising out of technological innovation; (8) risk and uncertainty of technological development; and (9) role of research and development in a country and government’s research and development budget.

Force 6: Legal Force (adsbygoogle = window.adsbygoogle || []).push({});

The legal force centers on how the courts influence business activity.

The legal force consists of factors related to the regulation of economic activities by the government that has an impact on the business of an organization.

Legal force represents outcomes of changes in laws and regulations. They result from legal developments within society and significantly affect companies. Society’s laws constraint the operations of organizations and thus create trends and events that signify both opportunities and threats.

Governments of the nation, states, and local area play a constructive role as the custodian of citizens. To protect and promote the interests of citizens, they resort to legal activities which can be done through constitutional provisions and industrial laws.

Businesses are closely related to the government. Regulations formed in response to new national, regional, state, and/or local laws that are legislated often influence a firm’s competitive actions and responses.

The legal environment includes various legislations passed by the government administrative orders issued by government authorities, court judgments as well as the decisions rendered by various commissions and agencies at every level of the government – federal, or state.

Examples of important legal factors include employment laws, health and safety regulations, discrimination laws, and antitrust laws.

Some of the important areas of control are: (1) industrial policy and licensing; (2) monopolies and restrictive trade practices; (3) legislation related to a company’s operation; (4) import and export control and control over foreign exchange; (5) control over foreign investment and collaboration; (6) control through consumer protection; and (7) control of environmental pollution.

Legal factors follow on from political factors, as the governments often pass laws that affect business.

In most countries, the interplay between political and legal forces, on the one hand, and industry competitive structure, on the other, is a two-way process in which the government sets regulations that influence the competitive structure, and firms in an industry often seek to influence the regulations that governments enact by a number of means.

Firms may provide financial support to politicians or political parties that espouse views favorable to the industry and lobby government legislators directly to shape government regulations.

Related Concepts

Business External Environment Components
Hitt, M. A., Ireland, D. R., & Hoskisson, R. E. (2019). Strategic Management: Concepts and Cases: Competitiveness and Globalization (MindTap Course List) (13th ed.). Cengage Learning.
Mastering Strategic Management. (2016, January 18). Open Textbooks for Hong Kong.
Wheelen, T. L. (2021). Strategic Management and Business Policy: Toward Global Sustainability 13th (thirteenth) edition Text Only. Prentice Hall.

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Macro Environment Essays

Macro Environment Essays (Examples)

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Macro-environment of southwest airlines revised text economic.

Macro-Environment of Southwest Airlines (Revised Text) Economic Environment: encompasses all factors that have a direct effect on GDP, unemployment, inflation, interest rates, and exchange rates (Gimbert 48). The most fundamental are; fuel prices, and the effect of economic cycles. Economic downturns brought about by such factors as the 2007 financial crisis and the September 2011 tragedy drive airline customers across the U.S. To cut down on personal expenditure. The company, as a result, faces lower levels of air ticket demand, although the levels of customer expectations remain unchanged. World fuel prices are quite unstable. Southwest Airlines largely depends on fuel; as a matter of fact, fuel costs account for almost half of Airline companies' operational expenses. An increase in the price of fuel impacts negatively on profitability; the company may not consider raising its air fares, so as to protect its excellent-service-at-low-cost reputation. Political and Legal actors: federal, state and local regulations have….

Following the 9/11 tragedy in 2001, Congress adopted legislation aimed at tightening security and preventing a reoccurrence of the same. To this end, Southwest Airlines has to comply with the provisions of the Aviation Security Act, which require airlines to, among other things, train their crew on the handling of security matters, thoroughly screen all passengers, and maintain an adequate number of federal air marshals aboard flights (TSHA). Southwest Airlines, moreover, has to operate in compliance with the stringent security-enhancement rules set by the TSA, including carryon luggage requirements and the payment of the Aviation Security Infrastructure Fee (TSHA). Recent years have seen numerous modifications made to these rules; a factor that makes it difficult for the company to predict the effects of such changes in the short-term and in the long-term (TSHA).

Social Factors: Southwest Airlines attaches high value to its customers and strives to offer them the best services at the most affordable rates (Southwest Cares Report 1). Its commitment to customer service is depicted in the comprehensive plan in which its mission statement; "Dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride, and Company spirit," is embodied (Southwest Cares Report 1). Flyer programs are a common strategy for ensuring customer loyalty in the domestic airline market. Southwest Airlines operates a rapid reward program, in which customers are awarded points, using which they could earn free trips (Southwest Cares Report 1).

Southwest Airlines has, as most of its competitors struggle, shown consistency with regard to union relations. With a unionized employee percentage of approximately 90%, and deregulation making

Macro Environment Nutripower Is a

Moreover, considering that the country has a tradition in consuming cereal products due to its agricultural background and preoccupation for healthy lifestyle, the technology adopted by a market entrant should also allow for flexibility in terms of receipts or changing health requirements from both the customer and the authorities. Political (legal) General food safety requirements refer to the health and hygiene of the food handlers, their food handling skills and knowledge, the control parameters for receipt, storage, processing, display, packaging, transportation, disposal and recall of food. Food safety is considered essential and the standards are even higher for vulnerable persons or persons with special nutrition needs (e.g. diabetes). Therefore, the required investment in food safety measures and maintenance in proper conditions of a production facility is substantial, such a business being not only costly, but also bureaucratic. Because the consumer's safety being considered essential, the authorities tend to over-control all activities in….

Reference list:

Australian Bureau of Statistics (ABS). 2009. More de Facto Relationships, Women Still do Most Housework, More Energy use at Home. ABS (Media Release) - Australian Social Trends: www.abs.gov.au

Australian Government Intergenerational Report (IGR). 2004. Australia's Demographic Challenges: http://demographics.treasury.gov.au/content/_download/australias_demographic_challenges/html/adc-intro.asp

Department of Agriculture, Fisheries and Forestry (DAFF). 2006. Australian Food Statistics 2006: www.daff.gov.au

Heritage.org, retrieved Jun 2009: http://www.heritage.org/Index/

Macro-Environment Microsoft Corporation Strengths Weaknesses

The best alternative is to divert Microsoft resources from copycatting an attempt a better, bolder form of technology to rival these competitors. Resistance to change Dropping out of the Internet search engine and downloadable music markets until a real, innovative change can be offered may be met with resistance from marketing staff, who wish to establish Microsoft as a continual player in these areas. But if Microsoft does not release a new offering to counteract its first-moving rivals Google and Apple, rather than produce imitations, it will only create an impression in the midst of consumers that Microsoft can no longer compete with its rivals as an innovator, only as a market follower. To meet resistance within the organization, Microsoft must create a clear vision and message that it is a leader, and has always been a leader in its industry, never a follower. orks Cited Microsoft rolls-out corporate search tool." CNN: Technology.….

Works Cited

Microsoft rolls-out corporate search tool." CNN: Technology. AP Wire. 17 May 17, 2006. [22 May 2006]

http://www.cnn.com/2006/TECH/ptech/05/17/microsoft.search.ap/index.html

MTV enters crowded download market." CNN: Technology. AP Wire. 16 May 2006. [22 May 2006]

http://www.cnn.com/2006/TECH/internet/05/16/mtv.online.ap/index.html

Macro-Environment Socio-Cultural and Demographics Demand for Green

Macro-Environment Socio-cultural and demographics Demand for green products Legislation Economic environment Technology Business Level Strategy Protection from the Five Forces Threat of New Entrants Competition Substitutes Supplier Power Competition The building of relationships Business partners/transactions Strategic management Improved value chain Inbound logistics Manufacturing operations Outbound logistics The sales and marketing techniques The virtual value chain The macroeconomic environment of any enterprise is indeed a very vital thing to all the operations of the enterprise. This is brought about by the fact that both the present and the future operations of the business are dependent on the surrounding business environment. Harley Davidson has continued to embrace the changes that happen around its operations in order to ensure both sustainability and profitability. The modern global motorcycle manufacturing sector is characterized by stiff competition. It is therefore very essential for all the manufactures to critically assess their strengths and weaknesses and thereafter identify the opportunities to exploit in order to gain competitive advantage. esearch and Development (&D) and innovation in the manufacturing process mark the….

Satadru Bagchi, S & Dhali, S (2009).resource-based strategy project.Hero Honda Motors limited

Available online at http://www.scribd.com/doc/12950370/RBS-Hero-Honda-Motors-Limited-Final-Submission

Briand, P (2009).Baby Boomer income levels pummeled. Available online at http://www.examiner.com/baby-boomer-in-national/baby-boomer-income-levels-pummeled

Fredrix, E (2007). Noise laws could muffle motorcycle sales. Available online at http://www.pantagraph.com/news/article_efecbfa5-8681-5787-9004-61034e824aac.html

Luella- & 8226 Macro Environment PESTEL

They must comply with the legislation imposed in their country, as well as that in other countries where they operate. Also, in terms of international operations, fashion designers must act in accordance with the regulations imposed by the international regulators, such as the World Trade Organization. Microenvironemnt - Luella works with a team of talented specialists who are devoted to supporting the company reach its objectives in both creations, sales objectives and public relations. Momentarily, the designer is undergoing a process of updating its website in order to further improve its relations with the stakeholders, vital for successes (Jefkins and Yadin, 1998). The limitations of Luella come from the fact that the designer is still in the beginning of its operations and does not benefit from having a reputable and strong brand. eferences Jefkins, F., Yadin, D., 1998, Public elations, 5th Edition, Financial Times Management Weston-Thomas, P., Fashion Technology, Fashion History, Fashion Era,….

Jefkins, F., Yadin, D., 1998, Public Relations, 5th Edition, Financial Times Management

Weston-Thomas, P., Fashion Technology, Fashion History, Fashion Era, http://www.fashion-era.com/fashiontechnology.html . astaccessed on February 26, 2009

Macro and Micro Environment in Management

Macro and Micro Environment in Management Planning is an important function of management. It is an act of formulating a program for a definitive course of action. The management defines a goal and puts forward its strategies to accomplish the objectives defined. STEPS IN THE PLANNING POCESS For an organization to begin its planning, it needs to evaluate and assess whether it is ready. An organization need to realize where it is standing and what it wishes to accomplish. They need to assess this by an analytical study of their recent history, their strengths and weaknesses. The organization can also set up a planning committee and hand this job over to them. In any case the organization or a planning committee will need to recognize specific issues that should be addressed to in the planning process. An important thing to consider here is that enunciated visions comes from those who have a stake in….

REFERENCES:

Baxmann, M., Spatial Consensus-building Through Access to Web-based GIS:

An Online Planning Tool For Leipzig [online]. Cambridge, MA. Available from: http://www.spatial.maine.edu/ucgis/testproc/baxmann/baxmann.html [Accessed 30 August 2005]

Burby, R.J. et al., 1998. Improving Compliance with Regulations: Choices and Outcomes for Local Government. Journal of the American Planning Association. Volume: 64. Issue: 3. Page Number: 324+.

Gillin, E., 2002. Airline Woes Preceded Sept. 11 and Will Remain Long After [online]. Available from: http://www.thestreet.com/funds/ericgillin/10041098.html [Accessed 30 August 2005]

Macro and Micro Environment About

Technological forces -- numerous technological advancements have been made that allow the organizations to increase their operational efficiency, market coverage, quality of products and services, all to lead in superior levels of profitability. Legal characteristics -- the business legislation is continually modifying, often implying additional costs for the companies, which have to spend increased time and resources to understand and comply with the new regulations; examples could include new laws regarding fiscal pressure or advertising regulations. Environmental features -- there is a growing focus on environmental concerns and a real trend in both society as well as legislation to deliver environmentally-friendly products and services. Ways in which these concerns could affect West End include financial pressure to purchase more energy-efficient technologies or to use organic commodities in their manufacturing processes. eference: Website of the London West End, http://www.westendlondon.com / last accessed on May 26, 2009.

Website of the London West End, http://www.westendlondon.com / last accessed on May 26, 2009

Macro Economy Macroeconomics Circular Open

This model is much more conservative, and thus tends to try to avoid government interaction within the system. Here, the research suggests that it "stresses the connectedness of the monetary flows" (Hannes, 2012, p 4).As such, it keeps its leakages from separating and floating out of the system, as well as providing for more inside injections that do not rely so much on outside systems, as in the case with an open model system. The model is most concerned with savings and investment in order to keep leakages from spilling out of the model system, as in the case with the open system. In this system, borrowers take credit and invest it back into the system, therefore adding elements of credit into the system as an injection. In this regard, savings is seen as an injection, not a leakage like in the open systems model. Thus, "the closed model….

Buck, John. (2008). The circular flow diagram. Economic Perspectives. Web. http://econperspectives.blogspot.com/2008/04/circular-flow-diagram.html

Hannes, K. (2012). Circular flow models. Economics. Web. http://hannesk.com/econ/Chapter5CircularFlow.pdf

Morgan, D. (2012). Open and closed systems in macroeconomics. Education Articles. Web. http://articles.submityourarticle.com/open-and-closed-systems-in-macroeconomics-305112

Ebay E-Bay Environment the Environment

Competitors are a special category of eBay's microenvironment's components. EBay's most important direct competitors are Amazon Inc., Google Inc., and Yahoo Inc. The companies are quite similar, they have similar sizes and number of employees, or quarterly revenues growth level. However, there is little threat of new entrants on the market, as eBay is at a very high level that is very hard to be attained by smaller new entrants, requiring substantial initial costs that are not available for smaller companies trying to enter on this market. However, eBay may have to deal with such issues in the Asian region, where the company is not as strong as it is in the United States. EBay's macro-environment is consisted of the demographic, economic, technological, cultural, political, institutional, and natural environment. The economic environment is the most important one, for both the United States and the Asian region. Unlike the Asian unstable economic….

Reference List

Sharp Growth in Asia's labor force poses economic, environmental challenges - UN (2007). UN News Centre. Retrieved August 29, 2007 at http://www.un.org/apps/news/story.asp?NewsID=23492&Cr=work&Cr1= .

Economic Survey of the United States (2007). Organization for Economic Cooperation and Development. Retrieved August 29, 2007 at http://www.oecd.org/dataoecd/56/40/38665203.pdf .

Business Organisations Environments Exist Business Organizations Environments

Business Organisations Environments Exist Business Organizations Environments Organisations have changed their normal horizon of working and they have transformed their general perspective to work. In the current era strategies have been transformed and effectiveness prevails in the international business arena. This paper would solely focus on the aspects of internal and external environments within the organisation and how these environments affect the general procedures of an organisation in the longer run. The evaluation of this paper is based on several questions and these questions are answered below in detail. Internal pressures in an organisation and quite critical and complex. At times they can change the entire scenario of a worker and they have the tendency to either bring laurels for the company or they can also tarnish the career of an individual. That is the reason why all these aspects should be kept in mind when an individual is working on all….

Davis, P. & Desai, A., 2000. Mode Of International Entry: An Isomorphism Perspective.. Journal of International Business Studies, Volume 4, pp. 3-28.

Johnson, R. & Scholes, G., 2008. Exploring Corporate Strategy. 8th ed. London: Prentice Hall.

Judge, T. & Robbins, S., 2010. Organizational Behavior. 14th ed. London: Prentice Hall .

Kinicki, A. & Kreitner, R., 2009. Organizational Behavior. 9th ed. NewYork: McGraw-Hill/Irwin.

Organization Behavior Nike Marketing Analysis Business Environment

Organization Behavior NIKE Marketing Analysis Business environment consists of numerous factors and forces that impact the business organizations' ability to operate competitively and profitably in their industry. These forces exist at both micro and macro levels and require the business organizations to show quick response to the uncertainties and complexities which may arise in the business environment from time to time (Cadle, Paul, & Yeates 2010). These forces impact each and every aspect of the business operations like marketing decisions, segmentation, targeting, and positioning strategies, consumers' buying behavior, marketing or promotional activities, and others (Lamb, Hair, & McDaniel 2012). This paper presents a report on the marketing analysis of Nike, Inc. -- a well-recognized brand in the clothing, sportswear, and footwear manufacturing industry of the world. The major sections include; impacts of micro and macro environments on Nike's marketing decisions, the segmentation criteria which it uses in different markets, the targeting strategies….

Cadle, J., Paul, D., & Yeates, D. 2010, Business Analysis, 2nd Edition. Swindon: British Informatics Society

Kurtz, D.L., MacKenzie, H.F., & Snow, K. 2010, Contemporary Marketing, 2nd Edition. Toronto: Nelson Education

Lamb, C., Hair, J., & McDaniel, C. 2012, Essentials of Marketing, 7th Edition. Ohio: South-Western Cengage Learning

Nike, Inc. 2012, About Nike, Inc. Available from [Accessed September 30th, 2012]

External Environment Facing Toyota the Global Car

external environment facing TOYOTA, the global car manufacturer. This paper discusses impacts of the company's internal organizational strategy (structures and management). The work is divided into two tasks. Task 1: Critically evaluates key factors (e.g. environmental, global, competition, technology) impact TOYOTA performance. Task 2: Provides strategic recommendations for senior managers of the TOYOTA. Examine the external environment of TOYOTA and how this impacts on the internal organizational strategy (structures and management). Critically evaluate the key factors (e.g. environmental, global, competition, technology) that impact on TOYOTA performance. Findings are drawn from use of analysis tools (e.g. PESTLE, Porter's five forces, SWOT). Strategic Analysis We begin our analysis of Toyota by looking at the company through three analytical prisms: Porter's Five Forces Analysis, SWOT Analysis, and PESTLE. It is necessary to define what these analytical prisms are, initially, i.e., define terms, before beginning the analysis in earnest. Porter 5 Forces Analysis Porter's Five Forces is an….

1. Toyota seeks 15% of global car market: Japanese automaker targeting Russia, India, China and Brazil, MSNBC.com, November 13, 2006

2. Global Economic Research: Global Auto Report: Strengthening Car Sales Drive Global Vehicle Output To Record High -- Production increase will support global economic activity, Feb. 25, 2011, Scotiabank Group

3. Toyota Motor Corporation Global Web site, http://www.toyota-global.com / (Accessed on March 10, 2011)

4. European car makers and their suppliers: changes at the interface, RT McIvor, PK Humphreys… - European Business & #8230;, 1998 - emeraldinsight.com

Economic Environment

Economic Environment of a Business The objective of this work is to summarize the economic environment of a business including information relating to microeconomics, macroeconomics, and international trade aspects The business organization is a "micro-economic unit" and the business environment is that which makes provision of the "macro-economic context within which firm operates." (eddy, ) The business environment can be categorized into the 'economic' and non-economic' and the 'micro- and macro-environment. (eddy,, paraphrased) The firm is an economic institution in a market system with the behavior of the firm reflecting the result of the decisions that were economic in nature that the manager of the firm made. The economic environment of a business in today's globalized business society is complex in nature. There is an inherent link between the business sector and it relationship with the government, capital market, household sector and the international business sector -- all of which serve to influence….

Palwar, V.K. (2010) Economic Environment of Business 2nd Ed. PHI Learning Pvt. Ltd. Retrieved from: http://books.google.com/books?id=hNBEId591wYC&dq=Economic+Environment+of+a+Business&source=gbs_navlinks_s

Reddy, R.I. (2004) Business Environment. APH Publishing. Retrieved from: http://books.google.com/books?id=NQv9vKgF_3MC&dq=Economic+Environment+of+a+Business&source=gbs_navlinks_s

External Environment Analysis

Business - Management External Environment Analysis Southwest Airlines is the nation's low fair, high customer satisfaction airline. It mainly serves short haul cities, offering single class air transportation, which aims for the business commuter as well as leisure travelers. The North American Industry Classification System (NAICS) classifies Southwest Airlines as Scheduled Passenger Air Transportation - 481111 (North American Industry Classification System, 2011). When conducting an external analysis it is important to look at Porter's five forces to determine the competitive strength and therefore magnetism of a market. Porter's five forces comprise five forces from horizontal competition and vertical competition. These forces are: threat of substitute products, the threat of established rivals, and the threat of new entrants, the bargaining power of suppliers and the bargaining power of customers (Porter's Five Forces a Model for Industry Analysis, 2010). The first threat is that of the threat of new entrants into the market. This is a….

Del Vecchio, John. (2000). Analyzing Industries. Retrieved from http://www.fool.com/research/2000/features000309.htm

How Economic Factors Affect the Aviation Industry. (2011). Retreived from http://www.myefficientplanet.com/74865/how-economic-factors-affect-the-aviation-industry/

North American Industry Classification System. (2011). Retreived from http://www.census.gov/eos/www/naics/

PEST Analysis. (2010). Retrieved from http://www.quickmba.com/strategy/pest/

International Business Environment Today's Micro

"Opening up the financial system to foreign capital flows can lead, and has led, to disastrous financial crises, which have resulted in great pain, suffering and even violence" (Mishkin, 2006, p.9). Directly linked to the previous disadvantage and the basic definition of globalization, is the fact that the interdependence of sectors and institutions increases in a global market. In this instance then, a financial crisis within one country or within one institution is likely to generate negative effects upon its partners. The most relevant example of chain reaction to a financial crisis is the current situation, in which the global community is threatened with economic collapse due to the financial difficulties of the United States. The situation is similar in terms of politics or the social environment. Globalization has often been assimilated with Americanization, meaning by this the desire of the American corporations to transcend boundaries and get access to cheaper….

Ervin, J., Smith, Z.A., 2008, Globalization: A Reference Handbook, ABC-CLIO

Geddes, P., 2004, the Benefits of Globalization, Foundation for Research on Economics and the Environment, http://www.free-eco.org/articleDisplay.php?id=378last accessed on January 19, 2009

Holm, H.H., Globalization and What the Governments make of it, European Institute Firenze, Retrieved at http://www.djh.dk/pdf/forskning/global.pdfon January 20, 2009

Kolodko, G.W., 2003, Emerging Market Economies: Globalization and Development, Ashgate Publishing

Capstone Project

Transportation

Agriculture

Education - Computers

The best alternative is to divert Microsoft resources from copycatting an attempt a better, bolder form of technology to rival these competitors. Resistance to change Dropping out of the Internet…

Business - Miscellaneous

They must comply with the legislation imposed in their country, as well as that in other countries where they operate. Also, in terms of international operations, fashion designers…

Business - Management

Macro and Micro Environment in Management Planning is an important function of management. It is an act of formulating a program for a definitive course of action. The management defines…

Research Paper

This model is much more conservative, and thus tends to try to avoid government interaction within the system. Here, the research suggests that it "stresses the connectedness of…

Business - Advertising

"Opening up the financial system to foreign capital flows can lead, and has led, to disastrous financial crises, which have resulted in great pain, suffering and even violence"…

Challenges of the micro environment Business Studies Grade 11

Table of Contents

Types of Challenges of the Micro Environment Business Studies Grade 11

Difficult employees .

Difficult employees may have a negative attitude on new employees.
They need a lot of supervision to complete their tasks satisfactory.
Difficult employees can do harm to the enterprise image if they say negative things about the business.

Difficult Employees Examples:

Example 1: A retail store where employees are resistant to change, affecting team morale.
Example 2: A small café where a senior employee is reluctant to follow new health protocols.
Example 3: A tech startup where a key developer requires constant oversight, slowing down project timelines.

Lack of vision and mission statement

Lack of vision and mission statement will hamper meaningful guidance and leadership to employees.
When there is no mission the business will lack focus/direction and single long term objective.

Lack of Vision and Mission Statement Examples (‘VML’) :

Example 1: A local bakery that lacks a clear business direction.
Example 2: A community library that operates without a defined mission, leading to inconsistent service.
Example 3: An independent clothing store without a clear vision, struggling to establish its brand.

Lack of adequate managerial skills

Lack of adequate managerial skills will result in the business not achieving its objectives.
Managers may not be able to provide meaningful guidance and leadership to employees.
Managers have different styles of managing and leading and this can be the source of enormous conflict with other managers and with staff.
Ineffective management can affect the productivity and profitability of a business.

Ineffective Management Examples :

Example 1: A South African restaurant where poor management led to high staff turnover.
Example 2: A local hardware store that failed to adapt to market changes due to ineffective leadership.
Example 3: A small IT company in Johannesburg facing client dissatisfaction due to poor project management.

The impact of unions

Trade unions may create tension between management and employees.
Businesses may not be able to meet the demands of the trade unions.
Once employees have a grievance against their employers relating to payments/workers’ rights/work conditions they will declare an industrial dispute.

Impact of Unions Examples:

Example 1: Mining Industry : In South Africa’s mining sector, unions have a strong presence. They advocate for workers’ rights and better working conditions. However, their activities can sometimes lead to operational disruptions or increased labor costs for mining companies.
Example 2: Automotive Industry : Unions in the automotive sector have been known to negotiate for higher wages and better benefits. While they play a crucial role in protecting workers’ rights, their demands can sometimes lead to strained relations with management and affect production schedules.
Example 3: Public Sector : In the public sector, unions representing employees in government services, like healthcare and education, can significantly influence government policies and labor practices. Their actions can have a direct impact on public service delivery and budget allocations.

Strikes and go-slows

Strikes and go-slows may affect the business negatively as it cannot meet its expected units of production.
Employees may not report to work due to a complete shutdown strike.
Employees may report to work but work slowly so that the business cannot meet its targets due to go-slows.

Examples for Strikes and go-slows

Example 1: National Transport Strike : A strike in the national transport sector, such as by bus or train operators, can cause widespread disruption, impacting daily commuting and logistics across the country.
Example 2: University Staff Strike : Strikes by university staff, including lecturers and administrative personnel, can lead to the suspension of classes, affecting students’ academic progress.
Example 3: Healthcare Workers Strike : Strikes by healthcare workers in hospitals can critically affect patient care and emergency services, highlighting the need for effective negotiation and conflict resolution in essential services.
Example 1: Port Operations : Go-slows at major ports, where workers intentionally slow down operations due to grievances, can lead to significant delays in importing and exporting goods, affecting the national economy.
Example 2: Municipal Services : Go-slows by municipal workers, responsible for services like waste collection and water supply, can lead to public health concerns and general inconvenience for residents.
Example 3: Manufacturing Sector : In the manufacturing sector, go-slows can result in reduced production output, delayed order fulfillment, and financial losses, affecting the business’s bottom line and market reputation.

Downloadable Notes on Challenges of the Micro Environment for Grade 11 Business Studies

Downloadable Notes on Challenges of the Micro Environment for Grade 11 Business Studies:

How to Learn Better

To help Grade 11 learners remember and understand the challenges faced by the micro environment in Business Studies, here are some strategies:

Negative impact on new employees.
Need more supervision.
Can harm business image.
Use Mnemonics : Create a mnemonic device for each challenge. For instance, for ‘Lack of Vision and Mission Statement’, you could use ‘VML’ – Vision, Mission, Lack.
Relate to Real-World Examples : Connect each challenge to a real business scenario. For example, discuss how a local business was impacted by ineffective management or how a well-known company handled a strike.
Create Comparison Charts : Make a chart comparing the micro and macro environments. List characteristics and challenges of each side by side for a clear visual distinction.
Regular Revision : Consistently review the material. Use the downloadable notes and resources like the YouTube video to reinforce learning.
Group Discussions and Role-Playing : Engage in discussions or role-plays with classmates to explore these challenges in a practical context.
Create Flashcards : Write down each challenge on a flashcard. On one side, write the challenge, and on the other, its effects and examples. This makes for an effective revision tool.
Apply to Case Studies : Use case studies from your textbook or online resources to see how these challenges manifest in real businesses.
Teach Others : Explain these concepts to someone else. Teaching is a great way to solidify your own understanding.
Visual Aids : Draw diagrams or create infographics that illustrate these challenges and their impacts on a business.
Practice with Past Papers : Answer past exam questions related to these topics. This will help in understanding how these challenges can be framed in questions.

Remember, understanding the context and application of these challenges in real-life situations will make it easier to recall and explain them during exams or class discussions.

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Types of Challenges of the Micro Environment Business Studies Grade 11. Difficult employees. Lack of vision and mission statement. Lack of adequate managerial skills. The impact of unions. Strikes and go-slows. Downloadable Notes on Challenges of the Micro Environment for Grade 11 Business Studies. How to Learn Better.

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Macro Environment Forces (Fully Explained)

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Factor 1: Economic Conditions

Factor 2: Economic System

Factor 3: Economic Policy

Factor 4: Economic Growth

Factor 5: Interest Rates

Factor 6: Exchange Rates

Factor 7: Price Inflation

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Types of Challenges of the Micro Environment Business Studies Grade 11

Lack of vision and mission statement

Lack of adequate managerial skills

The impact of unions

Strikes and go-slows

Downloadable Notes on Challenges of the Micro Environment for Grade 11 Business Studies

How to Learn Better

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