The companies should be attentive and pay a lot of attention on the following 6 factors In order to succeed In the business: demographics, sociological, economic, environmental, policy, political/legal. Demographic factors are related to personal characteristics such as age, gender, and social class, level of education, family, or race. Since those factors gradually change in the environment, companies must be prepared to adjust to the changes and adapt new strategies that will keep their company alive in the corporate world.
For businessman, it is crucial to understand those factors in order to decide exactly what their product and services mixes will include, as well as pricing and snacking. For example, nowadays people tend to live longer and businesses need to pay attention on this kind of trend and adjust their strategies the way that will benefit them. Sociological forces are the most difficult and uncontrollable variables to predict. Sociological forces have to do with people’s taste and preferences or choices they make in how they live their lives, such as their values, beliefs, and lifestyles.
These choices affect a company’s ability to serve its customers or sell its goods and services. It is very important to figure out what is your company’s target arrest and then do a research about your customers’ lifestyles, their beliefs and values. Without knowing all those factors about your customers it is impossible to do a successful business.. Changes in social environment will affect customer behavior, which affects sales of products. Trends in the cultural environment include individuals changing their views of themselves, others, and the world around them.
Environmental forces have become one of the most important forces in today’s world. Green marketing or environmental concern about the physical environment has Increased in recent years. In order to be more environmentally friendly the government is giving an incentive for people that Invest In green technology; such as tax break for hybrid users. Goodwill can be built by voluntarily engaging In pollution prevention activities and natural resource.
In my opinion, people should pay much more attention to the idea of “GO GREEN” In order to prevent global warming and to live In a better world In the future. In a conclusion, flexible strategic plans are crucial to the success of an organization. In order to compete In today’s domestic and International marketplaces, companies must Implement a strong strategic plan that Is flexible to anticipate changes In the forces and trend which can have a huge Impact on many Industries.
General Environment By surgeons Macro environment are external factors that have a direct impact on the example, some of those factors are: change in interest rates, change in cultural be attentive and pay a lot of attention on the following 6 factors in order to succeed in the business: demographics, sociological, economic, environmental, policy, political/legal. Demographic factors are related to personal characteristics such as increased in recent years. In order to be more environmentally friendly the overspent is giving an incentive for people that invest in green technology; such as tax break for hybrid users.
Goodwill can be built by voluntarily engaging in pollution more attention to the idea of “GO GREEN” in order to prevent global warming and to live in a better world in the future. In a conclusion, flexible strategic plans are crucial to the success of an organization. In order to compete in today’s domestic and international marketplaces, companies must implement a strong strategic plan that is flexible to anticipate changes in the forces and trend which can have a huge impact on many industries.