marketing64

In order to keep themselves up to date with these challenges, organisations should utilise a concept called Environmental Scanning. This is a concept from business management by which businesses gathers and utilises information about events, trends, and relationships in an organisation’s external environment, the knowledge of which would assist management in planning the organisation’s future [...]

THE MACRO ENVIRONMENT
This refers to the external factors which affect a company’s planning and performance, are beyond its control and are said to be dynamic in nature in that it is continuously evolving. It includes the political, economical, socio-cultural and technological environments.
 

A FRAMEWORK FOR MACRO-ENVIRONMENTAL ANALYSIS 
PEST ANALYSIS
-          The political and legal [...]

The microeconomic environment focuses on the kind of market structure that an organisation finds itself competing in and includes the company itself, suppliers, distributors, competitors and publics. These are internal factors close to the company that have a direct impact on the organisations strategy. Micro environmental factors include:
-    Customers
Organisations survive on the basis of meeting [...]