3579 words 15 pagesThis assignment is designed to develop learners’ ability to evaluate the elements of the macro environment and its relation to an organisation.
Select an organisation which you are familiar with. Explain the elements of its macro environment and discuss how these element(s) affect your selected organisation. Recommend improvements that can be made by the organisation in managing the macro environment effectively.
Description on the selected organisation
Description on the general macro environment elements
Identification and discussion on element(s) of macro environment that affects the selected organisation
Recommendations to improve management of the macro environment in the selected organization
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Companies use this information to create products and marketing strategies to meet the needs of each consumer in the macro environment. This information also plays a role into general economic factors. Companies must be able to determine consumer supply and demand by measuring consumer income and the desire to spend money on various goods and services. All these demographic factors are relevant to business. High population growth rate indicates an enormous increase in labour supply. Population with varied tastes, preferences, beliefs, temperaments etc. gives rise to differing demand pattern and calls for different marketing strategies.
3.2 Political and Governmental Environment
Political forces typically represent the government agencies and policies responsible for governing a nation’s economy. These policies can relate to business taxes, interest rate regarding loans and availability of currency. The legislature decides on a particular course of action. Government is the executive and its job is to implement whatever was decided by parliament. The judiciary has ensure that both the legislature and executive function in public interest and within the boundaries of constitution. Companies often make business decisions based on the tax liability or government involvement in a business industry or sector. Creating business divisions or departments in these areas can decrease a company’s profits and