Analyzing the Macro Environment Assignment Help
How Analyzing the Macro Environment Homework Help is done?
The environment in which an organization operates is divided into Micro and Macro Environment.
Micro Environment is concerned with the internal forces of the organization like:
- Consumers
- Competitors
- Market
- Suppliers
- Intermediaries
Macro Environment on the other hand is concerned with the forces which are external to the organization. An organization can exercise a little control over its micro environment to change it as per their demands but the same cannot be done for the Macro Environment.
The elements of the Macro Environment
Analyzing Macro Environment Homework Help is essential to understand the environment and to adapt to it. Their elements are as follows:
- Demographic Environment
Demographics refer to the characteristics which define the population of a given area or region. It takes into considerations factors like age, income level, gender, educational qualifications, employment status and socio-economic conditions. These factors help in analyzing macro environment homework help.
- Economic Environment
The economic environment takes into consideration the movement of the country to a particular economic level of growth and development. It includes factors like the market, resources, economic indices, the prevalent interest rate and the growth potential of the country.
- Legal Environment
The legal environment is concerned with the status of the law and order of the country. It includes the workings of the Government, the degree to which the business world is affected by the change in the Government’s composition, the corporate laws, taxes etc.
- Socio-cultural environment
This environment deals with the socio-cultural environment prevalent in the country. The factors include the level of gender equality, the traditions followed, the cultural diversification, prevalence of racial prejudices and discrimination.
- Technological Environment
The environment takes into consideration the advancement of technology in a country and the extent of automation of manual tasks and activities. Its factors include the prevalence of technological changes and innovation, the research and development undertaken by organizations, using advanced technology to reduce human error and efficiency.
Analyzing the Macro Environment Assignment Help
To help compete and adapt with the forces analyzing the Macro Environment is essential. This is done because companies need to adapt their operations as per the turbulence of the environment in which they operate. The best way to do this is use the SWOT Analysis.
SWOT Analysis
SWOT Analysis is the acronym for Strength, Weakness, Opportunity and Threats Analysis. They are described below:
- Strength
Strength is the inherent capability of an organization which gives it a competitive advantage over others. This may be in the form of a loyal customer base or a developed Research and Development Department.
- Weakness
This is an inherent disability in an organization which can be a disadvantageous for the organization.
- Opportunity
An Opportunity is a condition which an organization can use to gain competitive advantage over its rivals.
- Threats
Threats are conditions which can have an adverse affect on the organization. This can be in the form of disruption in the supply of raw materials etc.
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