The Macro Environment factors are: It refers the major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. The business sector has economic relation with the government, capital market; household sector and global sector.
Micro Environment Introduction Micro environment factors, are factors close to a business that have a direct impact on its business operations and success.
Before deciding corporate strategy businesses should carry out a full analysis of their micro environment. In this article we discuss common micro environment factors.
To learn about other factors, that are part of a firm's Marketing Environment read our articles about Macro Environment Factors and Internal Environment Factors. Customers As all businesses need customers, they should be Centred Orientated around customers.
The firm's marketing plan should aim to attract and retain customers through products that meets their "wants and needs" and excellent customer service.
Employees Employing staff with relevant skills and experience is essential. This process begins at recruitment stage and continues throughout an employee's employment via ongoing training and promotion opportunities.
Training and development play a critical role in achieving a competitive edge; especially in Service Sector Marketing. If a business employs staff without motivation, skills or experience it will affect customer service and ultimately sales.
Suppliers Suppliers provide businesses with the materials they need to carry out their business activities. A supplier's behaviour will directly impact the business it supplies. For example if a supplier provides a poor service this could increase time scales or product quality.
An increase in raw material prices will affect an organisation's Marketing Mix strategy and may even force price increases. Close supplier relationships are an effective way to remain competitive and secure quality products Shareholders As organisations require investment to grow, they may decide to raise money by floating on the stock market i.
The introduction of public shareholders brings new pressures as public shareholders want a return from the money they have invested in the company. Shareholder pressure to increase profits will affect organisational strategy. Relationships with shareholders need to be managed carefully as rapid short term increases in profit could detrimentally affect the long term success of the business.
Organisations need to mange the media so that the media help promote the positive things about the organisation and reduce the impact of a negative event on their reputation.
Some organisations will even employ public relations PR consultants to help them manage a particular event or incident. Consumer television programmes with a wide and more direct audience can also have a very powerful impact on the success of an organisation. Some businesses recognise this and will change their reaction when consumers mention that they are going to contact a consumer television programme or the newspapers about the business.
Competitors The name of the game in marketing is differentiation. Can the organisation offer benefits that are better than those offered by competitors?
Does the business have a unique selling point USP?
Competitor analysis and monitoring is crucial if an organisation is to maintain or improve its position within the market. The market can move very quickly for example through a change in trading conditions, consumer behaviour or technological developments.
As a business it is important to examine competitors' responses to these changes so that you can maximise the impact of your response. Conclusion Businesses can not always control micro environment factors but they should endeavour to manage them along with Macro Environment and Internal Environment factors.
Back To The Top.Journal of International Management Studies. ISSN Volume 13* Number 1* February CONTENTS. The Influence of Training and Development on Emotional Intelligence ; The Structure of Treasury and Foreign Exchange ; Natural Law and Its Implications for Medical Assistance-In-Dying ; Characteristics of Successful Instruction in Introductory Finance Course: Online Versus Traditional.
The industry is made of relatively large number of small operations, each of which consumes relatively small amounts of energy, water, food, paper and other resources, and which add only a small amount of pollution to the environment in terms of smoke, smell, noise and chemical pollutants.
The World Travel & Tourism Council (WTTC) reported that in tourism directly contributed to % of global GDP, accounted for million direct jobs, and 4% of global investment. This is in spite of the fact that there are negative economic impacts of tourism (e.g., seasonality and lower wage jobs) and in many cases positive environmental and social impacts (e.g., protection of natural & cultural resources in the area and education of both tourists and local residents).
History. The official name of the state is Chiapas.
It is believed to have come from the ancient city of Chiapan, which in Náhuatl means "the place where the chia sage grows." After the Spanish arrived (), they established two cities called Chiapas de los Indios and Chiapas de los Españoles (), with the name of Provincia de Chiapas for the area around the cities.
Oct 20, · This is a summary of our group’s discussion on the macro enviromental factors facing the hospitality industry. Social: Travel & tourism industry represents one of the key sectors in the national economy, with a “total contribution to GDP in the UK was GBP billion in or % of total GDP”.