This force could include corporate social responsibility, fair trade, affiliation between corporations and charities. The Role of Social Factors Changes in social values and trends impact the goods retailers sell and how retailers relate to consumers.
Technological factors refer to the rate of new inventions and development, changes in information and mobile technology, changes in internet and e-commerce or even mobile commerce, and government spending on research.
The macro environment analysis will identify how changes in the environment will impact on your industry. What is the likely cumulative impact of all of the things that affect the growth of our industry i.
Such as the number of part time workers, attitudes towards global warming, make up of the family structure as well as trends in population growth at relevant ages for your industry There maybe zero population growth in general but high growth in the number of people over If you are interested in learning more about micro and macro environments, and strategic marketing as a whole, then you may be interested in the CIM Diploma in Professional Marketing.
However, government policies can also hinder businesses by imposing regulations that increase costs, such as requiring the development and integration of new systems or procedures or establishing a minimum wage that small retailers may not be able to afford.
The skills and knowledge applied to the production, and the technology and materials needed for production of products and services can also impact the smooth running of the business and must be considered.
Since its inception, the country has been leading in terms of adapting and applying technology. In this scenario you need to determine which trend will have the largest impact.
In addition there are a number of things you can do to improve the depth of your understanding of the macro environment. However only industries impacted by an increase in interest rates should consider it in their analysis. For more information about the marketing diploma qualification and studying with Oxford College of Marketing, call Dave Charlton on 0 or email enquiries oxfordpeg.
However if you are heavily geared or have large borrowings you will need to consider the impact of interest rates in your internal analysis Strategic Leadership and the Macro Environment Analysis Once you have grasped an understanding of the macro environmental analysis you will be continually scanning for information about macro factors activities such as watching or reading the news, reading management magazines and when in conversation with other industry leaders will all lead to a greater understanding of the macro environment.
Technology also opens new retail markets, with auction platforms like eBay and web-based retailers such as Amazon.
An aging population is a demographic or social trend in many western counties which when combined with the trend of people living longer is resulting in an increase in the total number of retired persons. They may include demographics, age distribution, population growth rates, level of education, distribution of wealth and social classes, living conditions and lifestyle.
These may also vary from one country to another. The macro environment includes economic, technological, societal and governmental influences.
Again, government and social factors overlap in many areas including employment discrimination and, in some states, the recognition of same-sex partners as legally entitled to employer-provided benefits.Environmental: The macro environment analysis will identify how changes in the environment will impact on your industry.
The final step of the macro environmental analysis is to summarize the identified opportunities and threats and determine if you should expect growth, stability or decline in the size of your industry. PESTLE - Macro Environmental Analysis The PESTLE Analysis is a framework used to scan the organization’s external macro environment.
The letters stand for Political, Economic, Socio-cultural, Technological, Legal and Environmental. Effects from some of the market’s key factors influencing the macro environment include the following: The Bureau of Economic Analysis releases a quarterly report on GDP growth that provides.
A PEST analysis of USA with detailed descriptions of the political and other factors that are affecting the external macro environment of the country.
Menu. What is PESTLE Analysis? PEST Analysis. PEST Examples; PEST Templates; Please consider supporting us by disabling your ad blocker. INFLUENCE OF MACRO-ENVIRONMENTAL FACTORS TO THE PROCESS The Phase 2 describes the increase of domestic market penetration to strengthen the market position.
The aim of the next phase during expansion is the about the macro-economic environment as. Jun 29, · All retail companies operate within a “macro environment,” or the sphere of influence outside the company that shapes how companies do business.Download