In business, the macro environment is defined as the uncontrollable external factors that impact the organization’s operations, performance, and strategies. Due to the factor’s uncontrollable nature, the organization is forced to employ strategies that would help it adapt and continue thriving in the changed environment.
Approaches have been developed by organizations and business practitioners to help institutions analyze and make informed decisions with regards to the dynamic business environment.
The OT aspect of a SWOT...
In business, the macro environment is defined as the uncontrollable external factors that impact the organization’s operations, performance, and strategies. Due to the factor’s uncontrollable nature, the organization is forced to employ strategies that would help it adapt and continue thriving in the changed environment.
Approaches have been developed by organizations and business practitioners to help institutions analyze and make informed decisions with regards to the dynamic business environment.
The OT aspect of a SWOT analysis is one of the methods designed to address the macro environment. It deals with establishing the opportunities and threats presented by the dynamic external business environment.
PESTEL analysis is another method employed in the macro environmental analysis. The analysis framework examines an organization’s external environment to anticipate changes and facilitate the appropriate reaction.
The OT and PESTEL analyses study and examine metrics that include the following: political environment, economic environment, socio-cultural environment, technological environment, legal environment and the natural environment.
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