1 Answer | Add Yours
There are many aspects of a business's macroenvironment. Let us look at two of them here.
One aspect is the demographics of the country the firm is operating in. Firms can capitalize on this aspect by examining closely the trends in the demographics and trying to anticipate niches that will be opening up. For example, as America ages, there will be more opportunities for firms that provide goods and services that are particularly useful for senior citizens.
Another aspect is legal and political. A company must pay attention to the sorts of laws that are getting passed or are likely to get passed. It can then try to take advantage of opportunities created by those laws. For example, if car makers sense that a carbon tax is likely to be imposed in the future, they will want to start working on more fuel-efficient cars so they can be well-positioned in the market if the carbon tax causes fuel prices to rise.
We’ve answered 317,297 questions. We can answer yours, too.Ask a question