What is macro-environment for a business and what impact does macro-environment has on a business?
Answers
Answer:
Macro environment refers to those factors which are external forces in the company’s activities and do not concern the immediate environment.
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Macro environment are the forces which indirectly affect company’s operation and working condition. These factors are uncontrollable and the company is powerless and incapable of exercising any control over them.
Macro environment can be classified into economic environment and non-economic environment. Since the business is basically an economic activity, economic environment of business both national and international gets importance.
The economic environment of the country includes economic system, macroeconomic parameters, and stages of business cycle, financial system and economic policies of the government.
Non-economic environment includes political system, government policies, legal framework social system, cultural values, demographic factors, technological development and natural environment of the country. Intact, all these factors are very relevant to the present business.
The Impact Of Micro and Macro Environment Factors on Marketing 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
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