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1. Macro environment analysis: the major externals which affect company’s decision making, marketing strategy and performance. It includes:

Microeconomics analyzes economic decisions on the micro or small level. This includes how a household or consumer will spend their money. One of the crucial aspects of microeconomics is that a business owner needs to have the basic understanding of demand. Demand seems to be the most basic and yet a necessity for small business to be familiar with. The basic concept of demand is that if a consumer sees the price of something rising, they will look for substitutes. Quality demanded is an important aspect of understanding demand as a whole. The quantity demanded on a market depends on many factors. Some of which quantity demanded plays a role in is the price of a good, the price of competitive goods, consumer income, consumer's preferences, and the length of time period. Having knowledge about quantity demanded allows one to one to really understand the relationship between a price and the

Microeconomics and macroeconomics concepts aide in the understanding on how they affect the shifts of supply and demand affect equilibrium price and quantity. Microeconomics focuses on supply and demand (Colander, 2010). A company would look at ways to increase production that could decrease their prices compared to competitors. This would adjust the equilibrium price of products by increasing the quantity that is available. This would allow the company the ability to pass price savings to consumers. Macroeconomics is used as the economy changes such as with inflation (Colander, 2010). Inflation would cause a company to have increase cost of materials in producing their product. This creates a change in quantity to be provided as supply has to be adjusted to meet the decrease of demand due to the economy affects on equilibrium price.

Microeconomics focuses on supply and demand. A company would look at ways to increase production so that the company could decrease their prices compared to competitors. This would adjust the equilibrium price of products by increasing the quantity that is available. This allows the company the capability of passing price savings to consumers. Macroeconomics is used as the economy changes such as with inflation. Inflation would cause a company to have a boost of cost in materials from producing their product. This creates a change in quantity to be provided as supply has to be adjusted to meet the decrease of demand from the effects on equilibrium price.

In comparing the different sociological perspectives, I believe it is important to use both micro and macro analysis to investigate this social problem. Micro analysis can be used to analyze individual problems in the nursing profession that cause many nurses to turn to drugs and alcohol. Macro analysis will look at the profession as a whole to see what can be done to improve conditions for nurses and to rehabilitate nurses who are in recovery. I personally would choose both methods because it is important to use different points of views to solve problems in our communities.

Macro environment are the external and uncontrollable factors that influence an organization’s decision making and affects its performance and strategies.

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➢ Taxation – firms functioning when dealing with a different country the subject to that country’s laws and regulations.

Macroeconomics analyzes the overall economy and the issues affecting it such a growth, inflation and unemployment, where microeconomics only studies how those issues affect individual markets and how they make decisions about allocating scarce resources.

The micro-macro dilemma relates to a variety of circumstances and situations and is essential for numerous decisions daily that people make. This is particularly true for many of the business decisions that organizations make in concerns to marketing.

There are different methods to analyse the micro environment of the company but two only three of them are used in this report to analysis the micro element which affect the strategy of the company. The three analysis techniques used to study micro elements affecting the strategy of Mercedes Benz include

According to the website Product2Market “micro marketing is a strategy used to target a small segment of consumers with specific needs for products in the market. In micro marketing, all advertising efforts are strongly focused on a small group of highly targeted consumers” (Mello, 2014). Micro marketing is used in businesses to study their customers’ characteristics. By doing this businesses learn how to match their products or services to their customers resulting in a likelihood they will return. The website Wise Geek provides multiple scenarios involving micro and macro marketing. For example, micro marketing can be found in the real estate industry. A realtor who develops a reputation for working with properties within a certain price range can better understand the needs and wants of potential buyers who can afford homes within that price range (Tatum and Harris, 2016). Coming from my personal experience

This is a strategic analysis of GlaxoSmithKline that examines the key factors that influence the company and its activities. The strategic analysis will examine key factors in the company’s internal and external environment and their influence on the company’s strategies. GlaxoSmithKline is a global healthcare company that offers pharmaceutical, vaccines and consumer products. The company is a product of various mergers, the latest occurring in 2001 between GlaxoWellcome and SmithKline Beecham. The company started in London United Kingdom in 1715 as Plough Court pharmacy and has evolved to become one of the leading global healthcare companies. The healthcare company operates in more than 150 countries with 89 manufacturing locations and research centers in the USA, China, UK and Belgium. In 2015, the company’s sales grew to £23.9 billion from £23.0 billion in 2014 (GlaxoSmithKline plc. 2015).

Bangladesh is a south Asian country and has an approximate population reaching 164 million. The manufacturing industry is what Bangladesh is known for. That industry also accounted for almost 12% of GDP in 2009 and 2010 with employing over four million people (The Bangladesh Accord Foundation, 2014). The labor force is made up of young, urbanizing, mainly women. Bangladesh accounts for approximately 78% total exports (The Bangladesh Accord Foundation, 2014), which is second to China.

The microeconomics environment is the study of individuals and firms or organisations, which are directly linked to business. The study of microeconomics focus on subsisting and prospective stakeholders of company.