Business Studies Grade 11: Macro environment extent of control Notes

Ways in which businesses can be involved in the macro environment

Influencing suppliers by signing long-term contracts.
Creating new uses for a product by finding new customers.
Influencing regulators through lobbying and bargaining.
Initiating bargaining sessions between management and unions.
Influencing its owners using information contained in annual reports.
Negotiating strategic alliance agreement through contractual processes.
Knowing government regulations and operating within them.
Keeping up with new technologies to improve production and marketing.
Lowering its impact on the environment.
Entering the global market by using the internet to source suppliers and customers.
Working within the law to set up contracts.
Taking advantage of economic changes such as exchange rate, tax breaks. .
The business can stay informed about the challenges and developments in the macro environment and can adapt to challenges quickly.
Entering the global market by using the internet to source suppliers and customers
Working within the law can assist the business to set up contracts.
Getting involved in research/development so that they can continue to operate.