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Questions and Answers
Which of the following is true about the macro-environment?
Which of the following is true about the macro-environment?
- It is within an organization's control
- It is easier to analyze than the internal environment
- It can bring about the birth or death of an industry (correct)
- It has no impact on the micro-environment
What is the main purpose of macro-environmental analysis?
What is the main purpose of macro-environmental analysis?
- To determine the profitability of an organization
- To increase managerial awareness of the internal environment
- To identify potential changes in the macro-environment (correct)
- To improve employee satisfaction
What is a challenge of conducting macro-environmental analysis?
What is a challenge of conducting macro-environmental analysis?
- Identifying what to include and how to organize information (correct)
- Determining the profitability of an organization
- Creating a marketing strategy
- Finding information about the internal environment
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Study Notes
- The macro-environment is the broad environment outside an organization's industry and markets.
- It is beyond an organization's control but can have a significant impact on the micro-environment.
- Changes in the macro-environment can bring about the birth or death of an industry, make markets expand or contract, and determine competitiveness.
- Managers must be alert to actual and potential changes in the macro-environment.
- Macro-environmental analysis increases managerial awareness, understanding of context, and risk management.
- Analysis of the macro-environment is more difficult than internal analysis.
- Problems with macro-environmental analysis include assessing what to include and how to organize information.
- There are no simple rules governing the contents and presentation of macro-environmental analysis.
- The macro-environment is sometimes referred to as the far or remote environment.
- The macro-environment exerts forces from outside an organization's sphere of influence.
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