This video emphasise is the fact that business does not operate in a vacuum. Businesses operate in the real world and they are subject to many influences and many pressures, both from within and from the environment. The internal pressures are generally under the control of management who may influence them, however, the external pressures are outside of the control of management.
External pressures may include government taxation, this may be corporate tax and alternatively attacks on the product being produced. The government may also regulate the labour market, conditions and terms of employment, taxes on the good or service, the location of the business, and many other factors. The macro economy will also influence the business since inflation will affect business costs, taxation policy will also have an influence, as, perhaps, so also will the exchange rate and the interest rate.
All of these means that business is operate in a complicated environment.
0:08 1. The macro environment comprises of all external forces that are out of an organisation’s control.
4:34 The following are some macro factors that can impact on business activity
5:12 The impact of the digital revolution
10:31 The impact of social technology
14:59 Cyberspace Security
18:33 BRICS Market
23:53 Global shift in economic and social power
26:14 Ethical and sustainable growth