Macro and micro environments both fall into the categories of environmental scanning. The general scope of environmental scanning is that it is a component of global environmental analysis. While analyses are typically carried out on the macro environment‚ the micro environment still has an important role to play. In summary‚ the macro environment is involved with the industries‚ companies‚ markets‚ clients and competitors‚ while the micro environment can be represented by the suppliers‚ competitors
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sources of finance; The money needed to start a business is called business finance. This resource will look at some of the possibilities. This factor can be defined as long term and short term factors. We need to remember that some sources of finance will be appropriate for some businesses but not for others. There are a number of factors to think about when looking at this area of business. We will be looking at the following: • Short term sources of finance: o Bank overdraft
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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 forces: cultural‚ demographic‚ economic‚ natural‚ political‚ and technological
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Macro-Environmental Factors Vietnam is a peninsula‚ which located in the Southeast Asia monsoon zone. Its long narrow territory stretches 1700km from north to south and in the center a mere 50km from east to west‚ the territory looks like a dragon stand at east of the Indo-Chinese peninsula. The coastline‚ which extends for 3260km‚ has fine beaches and archipelagos. It not only has beautiful landscape attracts countless tourists and also can get rich seafood‚ provided favorable conditions for raw
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high. b) Economic Fluctuations in interest rates‚ exchange rates and money value greatly affect activities and operations of General Electric. Factors such as deflation and inflation as well as government spending in different countries in which General Electric has ventured often influence business productivity and profitability. The economic impacts caused by the current economic crisis are being felt all over the world. General Electric has recorded decreased sales mostly due to lower lending
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Environmental Factors of Marketing This paper will discuss the five environmental factors that influence global and domestic marketing decisions that organizations must make. These five environmental factors are technology‚ demographics‚ government‚ culture and economics. Companies are affected differently by these factors depending on the industry they are in and the size of the organization. I will be using the Washington Plaza Hotel to illustrate how these environmental factors affect the
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products. The macro-environment consists of six types of forces economic‚ demographic‚ cultural‚ natural‚ technological and political. “Vital Foods” must ensure that they take into account the trends‚ changes and alterations in these environments which can both pose threats and reveal opportunities. Economic Environment The economic environment is best described as having the “factors that affect consumer buying power and spending patterns" (Kotler et al 1998). These factors include income
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Executive SummaryThe macro-environment consists of larger societal forces that affect entire micro-environment. The six forces making up the company’s macro-environment include demographic‚ economic‚ natural‚ technological‚ political/legal‚ and social-cultural forces. Companies must constantly watch and adapt to the marketing environment in order to seek opportunities and ward off threats. “The marketing environment comprises all the actors and forces influencing the company’s ability to transact
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Marketing Environmental Factors FedEx Corp is the world’s biggest express transportation company. They generate over $20 billion in annual revenue. FedEx Corp is the largest provider of e-commerce and supply chain management. The company offers business solutions through a network of subsidiaries that operate independently. These businesses are FedEx Express‚ the worlds biggest express transportation company; FedEx Ground‚ Americas second biggest provider of small package delivery; FedEx Freight
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Wholesale CorporationEnvironmental factors consist of all the factors and activities which have a considerable impact on the running of the business. Environmental factors have a powerful impact on the normal functioning of the any business‚ especially in the marketing decisions (Pagell & Halperin‚ 2000). These factors pose challenges and threats to the success of any business. In order to deal with such environmental factors a firm should enhance its core competencies and make sound strategies (Staff
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