BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Socio-Cultural Factors
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Ethical Factors
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Diversity Factors
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Political Factors
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Detailed explanation-1: -Macro environment is the environment which is external to the business. It deals with the PESTLE effect. These are Political, Economical, Social, Technological, Legal and Environmental. Hence, competitive forces are not a part of macro environment.
Detailed explanation-2: -A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation.
Detailed explanation-3: -The environmental factors considered in the STEEPLE analysis are legislation for the environmental protection, management of the wastes and their disposal, water, and air pollution, energy-efficient technologies, and ecology in the society.
Detailed explanation-4: -STEEPLE is an acronym for social, technological, economic, environmental, political, legal, and ethical threats.