Question

Q1. Select an organization within your home country and evaluate the following from the perspective of that organization. (a). The layers of the macro-environment. (b). What identifiable key drivers to shape global strategy can you identify for this organization?

Answer 1

a. the macro environment layers includes: Demographic, Economic, Political, Socio- cultural, Ecological and Technological.

i want to discuss about ITC firm- which is one of the Conglomorate firm in India. It was established in 18th century by Birtishers, namely Imperial Tobacco Corporation and after independence it is re-named as Indian Tobacco Company.

Demographic factors: is the study of population, their characteristics such as age groups, gender, occupation, density, and other related statistics. the overall population rate and its growth rate show impact on marketers and their plans. When it comes to ITC, is having a wide range of products, covering many parts of the India. They are into different proudcts and segments like Tobacco products, confectionary, home appliances, personal care products, packed food and juices, clothing, hotels, paper and study material, hotels, and so on. with this wide range of products ITC is able to meet the most of customers in India.

Ecnomic: it includes the purchasing power of customers and their income levels in a given period of time. As most of the ITC products are common and regular usage products, no customer thinks about these are burdens. Henec, a common man, with little or less income is also a potential customer to ITC.

Political: Government laws and regulations impact on the business plans and strategies of ITC also. Here, the central government wants to make India as Tobaccor free nation by 2022, so, ITC is more focused on other segments of market apart from Tobacco items. They are spending huge amounts on product innovation, marketing and other ancilliary services to build their market. as government changes, their policies and laws also be changes and ITC is trying to adjut itself to modern market scenario.

Socio-cultural: the changes appears in the society, due the changes in life styles and habits of people. When the behavirors of people changes, it reflect on their life styles and their purchasing pattern also.

Echological and technological: the sustainable practices and awareness about nature and safe practices of business has been increased in the minds of customers. The firms which are protecting environment and less harm to the nature, they are able to grabing more market share.

In the same way the technological changes happens in the production and market scenario, impacts the production and marketing ablities of firms.