Unit 1 business and the business environment l/508/0485 table of contents



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UNIT 1 BUSINESS AND THE BUSINESS ENVIRONMENT
Technology Impact
Technological factors plays a big role in the macro environment and therefore on the activities of a business or organisation because when there is an advancement in technology within an industry and an organisation is able to invest in it, the effect is that it will make business activities to be executed with ease or faster and time spent on getting some jobs done will be dropped – this therefore means an improved productivity and profitability for the organisation. Also technologically, digital revolution in the manufacturing industries has positively impact the production rate whereby there is increased productivity and more products can be made within hours as compared to when businesses are yet to be digitalized or automated. These do therefore come with changes which need to be well managed in order to enhance the success.
Environmental Impact
Environment wiser, the macro environment can also impact a business. In situation whereby the environment is safe, healthy and positively affected by businesses; doing business will be easy and it will ensure that the chances of future generation to continuously doing business is high as a result of not negatively the environment. Businesses therefore need to ensure that they contribute to a sustainable business environment through different activities. This therefore mean that the government of a nation need to put in place different environmental legislations and standards to protect the environment so as to make it easy for continuous business.
Legislative Impact
Legislative wise, the macro environment can be of either positive or negative impact on a business or organisation. A country whereby there are changing regulations for doing business will contribute to a situation whereby business organisations will not be able to continuously do business with ease as a result of always wanting to adhere to the different government legislations. Also when for instance, the government of a nation put in place productive legislations on health and safety and working practices – this will make doing busy within different sectors easy.

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