how the macro environment impacts upon industries 1. Introduction To answer this question‚ I will use Toyota as an example of an automotible industry within South Africa. An industry can be defined as a group of companies that satisfies a specific customer need. 2. Economic forces Since economic forces can change the health of the economy‚ they also have a direct impact on the broader industrial competitive environment. The four most important of these forces are: • the growth rate
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Macro environments relates to the larger forces that have an impact on society as a whole and not just on one or a few organizations. A single organization cannot usually have a significant impact on these forces and therefore can only adapt its marketing mix to account for the opportunities and threats that arise. One of the evidence about this is the article ’Optus hit with $5 million fine’ which was published in The Age of the July 8‚ 2011‚ it identify and explain the impacts and affects this
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The environment affects human health in many ways in this short passage I will talk about air pollution and polluted waters. Air pollution is everywhere‚ and no we do not always see it but it is their harming everyone’s health. Why is air pollution bad for children’s health because it harms their lungs and increases the chances or childhood asthma. Air pollution is harmful to children’s lungs‚ but adults also. Air pollution has been known to cause a number of respiratory problems. Places with a
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A macro environment comprises the external factors that can influence a business. These factors are often out of the control or management ability of a company. Factors typically include economic‚ demographic‚ political‚ and technological forces in business. Business owners and managers often spend copious amount of time and effort to assess the overall economic environment in order to determine the number and strength of each factor. Strategies and performance reviews can help owners and managers
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Financial Environments Megan Kilkenny HCS/577 January 20‚ 2014 Crystal Chilman Financial Environments Introduction With recent big changes in healthcare legislation‚ health care organizations are moving towards a system that changes reimbursement procedures. Health care organizations will be reimbursed by the government based on the quality of care provided by that organization. The Affordable Care Act (ACA) requires certain steps to make Medicare more resourceful by decreasing the amount
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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
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1.1 The micro-environment This environment influences the organization directly. It includes suppliers that deal directly or indirectly‚ consumers and customers‚ and other local stakeholders. Micro tends to suggest small‚ but this can be misleading. In this context‚ micro describes the relationship between firms and the driving forces that control this relationship. It is a more local relationship‚ and the firm may exercise a degree of influence. These are internal factors close to the company
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Most important factors of micro environment of business are as follows: 1. competitors‚ 2. customers‚ 3. suppliers‚ 4. public‚ 5. marketing intermediaries‚ 6. workers and their union! The micro environment of the organisation consists of those elements which are controllable by the management. Normally the micro environment does not affect all the companies in an industry in the same way‚ because the size‚ capacity‚ capability and strategies are different. For example‚ the raw material suppliers
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Macro-economic factors: There are a lot of macro environmental factors that affect Telfin performance though emphasize has been given on the important factors. Economic factors like current and anticipated economic growth‚ interest rate‚ inflation‚ cost of labor‚ disposable income and distribution of income etc collectively comprise economic environment. Current and projected economic conditions: In recent years Pakistan’s economic figures were indicating very impressive and promising consequences
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business environment is said to affect organizational decisions‚ strategies‚ processes and performances ” with reference to a business organization of your choice and using macro environments factors only‚ comment on the validity of this statement.(25) INTRODUCTION Lancaster (2011) defines the macro environment as ’those global elements over which the organization has no control over but which affect the organization’s ability to serve its customers profitably.’ There are six major macro environment
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