M:MANAGEMENT
M:MANAGEMENT
REVISED Edition
ISBN: 9781259686887
Author: BATEMAN
Publisher: MCG
bartleby

Concept explainers

Question
Book Icon
Chapter 3, Problem 1LO
Summary Introduction

To discuss:  The 5 elements of the macroenvironment of the organization.

Expert Solution & Answer
Check Mark

Explanation of Solution

The macroenvironment includes the usual elements in the outside environment, which could affect the strategic decisions. The 5 components of the firm’s macroenvironment includes the following:

  • Laws and regulations
  • Economy
  • Technology
  • Demographics
  • Social values

The laws and regulations safeguards and restrain the firms. The economy has an impact on the firms and managers. The technology is bringing a new change to each business function, the demographics states about the customers and employees. Finally, the social values brings attitude to the company and its products.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What is the concept of a business environment, and why is it essential for organizations tounderstand it in today's globalized world?
How do social and cultural factors influence the business environment, and what are some strategies for organizations to adapt to diverse societal expectations and norms?
Explain what an organization is and identify its characteristics.
Knowledge Booster
Background pattern image
Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College