Analyzing the micro and macro environment is important for understanding all the factors that can impact a business. The micro environment refers to the internal and immediate external factors, while the macro environment looks at broader societal, technological, economic, environmental, and political factors in the country or global context that are outside a firm's control. Understanding both environments can help identify opportunities and threats to optimize business decision making.
Analyzing the micro and macro environment is important for understanding all the factors that can impact a business. The micro environment refers to the internal and immediate external factors, while the macro environment looks at broader societal, technological, economic, environmental, and political factors in the country or global context that are outside a firm's control. Understanding both environments can help identify opportunities and threats to optimize business decision making.
Analyzing the micro and macro environment is important for understanding all the factors that can impact a business. The micro environment refers to the internal and immediate external factors, while the macro environment looks at broader societal, technological, economic, environmental, and political factors in the country or global context that are outside a firm's control. Understanding both environments can help identify opportunities and threats to optimize business decision making.