Advertisements
Advertisements
Question
Discuss the role of the macro environment of business.
Long Answer
Solution
This is the general or overall environment in which the business operates. The success of a business is dependent on its ability to adapt to the macro environment.
Role of Macro-environment:
- Business is an integral part of the economic system prevalent in a nation.
- Business is a part of society. Social environment refers to the sum total of factors of the society in which the business is located.
- The success of a business lies in its ability to adapt and sustain political and legal changes. The legislative, executive, and judiciary are the three political institutions that direct, and influence a business.
- The natural, geographical and ecological factors have a bearing on the business.
shaalaa.com
Types of Business Environment
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Factors within an organisation constitutes _________ environment.
The two major types of business environment are _______ and ___________.
________ environment includes weather and climatic conditions.
Macro Environment of business is an _________ factor.
What is an internal environment?
Write about any three internal environmental factors of the business.
What do you know about the Technological environment?
Explain the micro environmental factors of the business.
