BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Six components of macro environment are Demographic, Economic, Natural, Technological, Political and Cultural environments.

Detailed explanation-2: -Macro environment factors like inflation, fiscal policy, monetary policy, consumer spending, GDP, and employment rates considerably affect business operations. Governments and institutions strategize policies based on these factors. Macro environment factors impact decision-making, strategies, and growth of a business.

Detailed explanation-3: -There are six critical environmental marketing factors. These comprise the socio-cultural, legal, economic, political, and technological factors.

Detailed explanation-4: -In contrast, the macro environment refers to broader factors that can affect a business. Examples of these factors include demographic, ecological, political, economic, socio-cultural, and technological factors.

Detailed explanation-5: -Although there are various approaches to complete an analysis of the macro environment forces affecting your business, I will focus on seven (7) distinct forces: competitive, cultural, demographic, economic, natural/physical, political, and technological.