BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Micro (External) environment – small forces within the company that affect its ability to serve its customers. Internal environment – can be controlled, however, it can’t influence an external environment. Macro (external) environment – larger societal forces that affect the microenvironment.

Detailed explanation-2: -Macro environment refers to all those external environment factors that immensely influence the business success, strategies, and decision making. These external factors that highly influence the business success are not controlled by the organization easily.

Detailed explanation-3: -The micro environment is specific to a business or the immediate location or sector in which it operates. 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-4: -Macro environment refers to the major external and uncontrollable factors that influence the decision making of an organization.

Detailed explanation-5: -Micro-environment factors include internal factors i.e. customers, suppliers, competitors, etc. whereas macro-environment has external factors like political, social, economic, etc.