The macro-environment refers to external factors beyond the firm's control that affect business operations.
Currently, the two most important factors affecting companies in the macro-environment are political and technological.
The current administration has made a number of questionable policies—for example, increasing taxes on imports from China. The move has made it more expensive for American companies that export to China, since the Chinese have retaliated and also increased taxes on goods from the US.
In the tech world, new innovations are changing the way we conduct business. For example, modern companies need social media to interact with existing clients and attract new customers.
To conclude, politics and technology play a big role in the success of modern firms. Companies have no choice but to hope that the current administration won't make decisions that hurt them. In addition, they have to keep up with modern technology so as to remain relevant.
Let me start by defining the...
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