We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Macro Environment Essay Sample

essay
  • Pages: 2
  • Word count: 353
  • Rewriting Possibility: 99% (excellent)
  • Category: environment

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

Introduction of TOPIC

Marketing managers are confronted with many environmental concerns, such as those posed by technology, customers and competitors, ethics and law, the economy, politics, demographics, and social trends. One technique used by organizations to monitor the environment is known as environmental scanning. It allows marketers to understand the current state of the environment, so that the organization can predict trends.

The Macro Environment
There are a number of common approaches for how the external factors, which describe the macro environment, can be identified and examined. These factors indirectly affect the organization but cannot be controlled by it. One approach is the PEST analysis.

The PEST analysis is a politic

al, economic, social, and technological analysis that describes the framework of macro-environmental

Sorry, but full essay samples are available only for registered users

Choose a Membership Plan
factors used in the environmental scanning component of strategic management. Some analysts added legal and rearranged the mnemonic to SLEPT; inserting environmental factors expanded it to PESTEL or PESTLE, which is popular in the United Kingdom.

PESTEL Analysis
The six environmental factors of the PESTEL analysis are the following:

Political factors
-Taxation policy
-Trade regulations
-Governmental stability
-Unemployment policy

Economical factors
-Inflation rate
-Growth in spending power
-Rate of people in a pensionable age
-Recession or boom
-Customer liquidations

Socio-cultural
-Age distribution
-Education levels
-Income level
-Consumerism
-Diet and nutrition
-Population growth
-Life expectancies
-Religion
-Social class
-Expectations of society about the business

Technological factors
-Internet
-E-commerce
-Social media
-Level of Automation

Environmental factors
-Competitive advantage
-Waste disposal
-Energy consumption
-Pollution monitoring

Legal factors
-Unemployment law
-Health and safety
-Product safety
-Advertising regulations
-Product labeling labor laws

Ecology
-Affects customer’s buying habits
-Affects the production process of the firm

Potential supplies
-Labor supply
-Quantity of labor available
-Quality of labor available
-Material suppliers
-Delivery delay
-Level of competition to suppliers
-Service provider
-Special requirements

We can write a custom essay on

Macro Environment Essay Sample ...
According to Your Specific Requirements.

Order an essay

You May Also Find These Documents Helpful

A felicitous environment for children

According to Dr. Montessori, “A felicitous environment that guides the children and offers them the means to exercise their own faculties permits the teacher to absent herself temporarily. The creation of such an environment is already the realization of great progress.” Montessori believed that children should be given an environment that allows them freedom from the adult, i.e. she described a prepared environment as one, where the adult provides for necessary activities and materials according to the child’s individual needs, and allows the child sufficient independence and control to make his own choices and carry out the work with as fewer adult interruptions as possible. Development Ideally, the Montessori prepared environment must comprise of the following basic elements: Freedom: Montessori believed that children must be allowed to follow their natural impulse and must be given an environment that allows them to be guided by their own will and choice. She observed...

A Message to Garcia Report

The book “A Message to Garcia” was written by Elbert Hubbard in 1899, the book has been praised as a great source of inspiration and is perceived to be a guide for all men across the world. The book itself is centered on the universal themes of hard-work and determination. It is based on a true story of a fresh lieutenant during the Spanish-American War. It describes the journey of the young Lieutenant on his mission to deliver a message to the leader of Cuban insurgents, Garcia. Who was somewhere in the mountains of Cuba. Throughout the novel, the context of Rowan’s reason for delivering the message is unveiled. At the time the book takes place president William McKinley needed someone to go on a seemingly impossible mission, someone who would not except failure and would complete the task at all costs. Rowan was selected based on recommendations to deliver...

Adaptation and Natural Selection

Adaptation that is, the way that species' anatomy, physiology, and behaviour appear to be well suited to the demands of their environments. Adaptation is pervasive in nature. Moreover, once created, species were believed to change little, through time. In his Origin of Species, published in November 1859, Darwin explained the purpose of the book as follows: "I had two distinct objects in view; firstly to show that species had not been separately created, and secondly, that natural selection had been the chief agent of change." Natural selection, Darwin believed, explained how species became adapted to their environments. Natural selection, then, is differential reproductive success, with heritable favourable traits bestowing a survival advantage on those individuals that possess them. Generation by generation, favourable traits will become ever more common in the population, causing a micro-evolutionary which shift within the species. Such traits will remain favoured, however, only if prevailing conditions remain...

Popular Essays

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?