BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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General factors that a business typically has no control over
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the factor directly impact the operational of a company
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Detailed explanation-1: -It consists of external factors that the company itself doesn’t control but is certainly affected by. The factors that make up the macro-environment are economic factors, demographic forces, technological factors, natural and physical forces, political and legal forces, and social and cultural forces.
Detailed explanation-2: -the major uncontrollable, external forces (economic, demographic, technological, natural, social and cultural, legal and political) which influence a firm’s decision making and have an impact upon its performance.
Detailed explanation-3: -The macro environment consists of general factors that a business typically has no control over.
Detailed explanation-4: -Resources are organised by employing and managing staff. All components of the market environment work independently of the business. This environment operates outside of the influence of the business. Management of a business has absolutely no control over the components of the macro environment.
Detailed explanation-5: -Macro No control Businesses have no control over all the features/elements/components of the macro environment. E.g. A business cannot control the increase in the price of petrol announced by the Central Energy Fund but can outsource the transport function to reduce delivery of costs.