What Is Macro Environment? The major external and uncontrollable factors that influence an organization’s decision making‚ and affect its performance strategies. These factor includes the economic factors; demographics; legal; political‚ and social conditions; technological changes; and natural forces. Macro environment factors are beyond the control of an organization. This is because those factors are positioned outside the organizational system. Those forces are the prime factors in corporate
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CHAPTER 1 Business Environment Contents • Introduction • Business • Objectives of business • Environmental influences on business • Environmental analysis • Characteristics of business environment • Components of business environment • The micro and macro environment • Competitive environment • Porter’s five forces model–competitive analysis Learning Objectives The present chapter aims at: • Definitions and objective of business • Examine environment analysis‚ characteristics
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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. The company’s macro-environment consists of six major forces that impact on organizations. The six major forces are demographic trends‚ economic trends‚ natural trends‚ technological
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The Macro-environment The macro-environment includes concepts such as demography‚ economy‚ natural forces‚ technology‚ politics‚ and culture. Demography refers to studying human populations in terms of size‚ density‚ location‚ age‚ gender‚ race‚ and occupation. This helps to divide the population into market segments which can be beneficial to a marketer in deciding how to tailor their marketing plan to attract that demographic. The economic environment refers to the purchasing power of
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economy‚ politics‚ demographics‚ and social trends. One technique used by organizations to monitor the environment is known as environmental scanning. It allows marketers to understand the current state of the environment‚ so that the organization can predict trends. The Macro Environment There are a number of common approaches for how the external factors‚ which describe the macro environment‚ can be identified and examined. These factors indirectly affect the organization but cannot be controlled
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“Outline the components of any organization’s macro environment and give an example for each component of a current major operational change or industry trend”. Macro Environment: The factors outside of the industry that influence the survival of the company; these factors are not directly controllable by the organisation. (Elliot‚ Rundle-Thiele‚ Walker‚ p.48) Components of the Marco Environment: There are six (6) major components of which the macro-environment is made up of; 1. Demographic 2
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The micro and macro environment both have different factors. The Micro environmental factors include: organisations‚ suppliers‚ customer market‚ the intermediaries and competitors. Macro factors include Demographic‚ natural‚ technological‚ cultural‚ political and economic factors. However‚ these factors may vary depending with the company. In this study case of Air Asia‚ low price was the smartest marketing strategy Air Asia used. The company has done its research and found that there were a huge
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Part A (20 marks) Choose the BEST answers. Write your answer into the Answer Sheet provided. 1. Computer ____ entails having the knowledge and understanding of computers and their uses. a. literacy c. legitimacy b. intimacy d. infancy 2. A(n) ____ is an electronic device‚ operating under the control of instructions stored in its own memory‚ that can accept data‚ process the data according to specified rules‚ produce results‚ and store the results for future use. a. input device c
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BACHELOR OF BUSINESS MANAGEMENT (HONS) COURSEWORK Year 2012 MONTH SEPTEMBER Subject MGT4513 STRATEGIC AND CHANGE MANAGEMENT Weightage 25% Submission Date 25TH OCTOBER 2012 Regulations A. Late Submission A 10% deduction per day of total coursework marks (excluding weekends and public holidays). Late submission between 5 to 10 days‚ results in a 50% deduction of total coursework marks. Late submission past 10 days results in an automatic 0% for coursework and the student
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Have you ever call up to AirAsia customer service hotline? What do you think about the customer service hotline? For me‚ it’s totally a pain to call them up. Why is it so? I recently made a call to the customer service hotline to change my flight to a later date. First when I was connected‚ I get a recorded message that last 30 seconds which is not able to skip by pressing any number. After making the right way into speaking to a customer service representative‚ I was put on the line for more than
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