BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is a Macro Environment? A macro environment refers to the set of conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy.

Detailed explanation-2: -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-3: -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-4: -E.g. A business cannot force its suppliers to reduce the prices of their goods but it can buy goods in bulks and claim discounts. Macro No control Businesses have no control over all the features/elements/components of the macro environment.