List the five elements of a firm's macroenvironment, and illustrate how each element affects the firm.
What will be an ideal response?
The five elements of an organization's macroenvironment include the laws and regulations, economy, technology, demographics, and social values. U.S. government policies impose strategic constraints on organizations but may also provide opportunities. The government can affect business opportunities through tax laws, economic policies, labor laws, and international trade rulings. An important economic influence is the stock market. When investors bid up stock prices, they are paying more to own shares in companies, so the companies have more capital to support their strategies. As technology evolves, new industries, markets, and competitive niches develop. Advances in technology also permit companies to enter markets that would otherwise be unavailable to them. Demographics are statistical characteristics of a group or population. An organization's customers, a university's faculty and staff, or a nation's current labor force can all be described statistically in terms of their members' ages, genders, education levels, incomes, occupations, and so forth. Societal trends regarding how people think and behave have major implications for management of the labor force, corporate social actions, and strategic decisions about products and markets.
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A ranking scale in which numbers are assigned to objects to indicate the relative extent to which some characteristic is possessed is called a(n) ________
A) nominal scale B) ordinal scale C) interval scale D) ratio scale E) random scale
The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the
A. Clayton Act. B. Federal Trade Commission Act. C. Sherman Antitrust Act. D. Lanham Act. E. Robinson-Patman Act.
When goods have been commingled, it is sometimes possible to get title by confusion
a. True b. False Indicate whether the statement is true or false
Which of the following laws focuses specifically on price discrimination?
A. Federal Trade Commission Act B. Robinson-Patman Act C. Magnuson-Moss Act D. Sherman Act E. Wheeler-Lea Act