Companies and firms depend heavily on the environment in which they operate. For a company to survive and thrive, it is an imperative that managers identify all external opportunities and challenges, that is possible by systematic monitoring of the macroeconomic environment.
The study of the environment at macro level is done after a precise definition of the domains that are to be observed and the purposes for which the analysis is performed. Macro environment is made up of factors that influence an industry along with all component markets and firms. These factors are usually grouped into 5 major domains, namely:
- Political,
- Legislative,
- Socio-cultural,
- Technological,
- Economic.
Consultex offers support to its clients in analyzing the macro environment by the above-mentioned domains.