Microtrends are common to business management. A trend toward flexible workforces, for example, involves organizations minimizing their numbers of full-time employees and filling the gap with part-timers, freelancers and contract workers.
What are the 4 economic policies?
- Monetary policy
- Fiscal policy
- Supply-side policies
- Microeconomic policies – tax, subsidies, price controls, housing market, regulation of monopolies
- Labour market policies
- Tariff/trade policies
What is micro analysis
Microanalysis is the chemical identification and quantitative analysis of very small amounts of chemical substances (generally less than 10 mg or 1 ml) or very small surfaces of material (generally less than 1 cm2).
What are the 4 main economic variables?
- Balance of Payments
- Inflation
- Economic Growth
- Unemployment
What types of questions do Microeconomists look at
Common topics are supply and demand, elasticity, opportunity cost, market equilibrium, forms of competition, and profit maximization.
Microeconomics should not be confused with macroeconomics, which is the study of economy-wide things such as growth, inflation, and unemployment.
What are the 5 micro environmental factors
The components of the marketer’s micro-environment are the company itself (also called the internal environment), consumers, suppliers, marketing intermediaries, competitors of the company and other stakeholders.
What do you mean by environmental analysis
An environmental analysis, also called an environmental scan, is a strategic tool used to identify and assess all external and internal elements in a business environment.
It examines organizational and industry factors that can positively or negatively affect the business.
How do I know micro trend?
- Leverage industry research
- Lend to industry thought leaders and influencers It is very important that industry influencers are taken into consideration
- Know what trends will continue
- Collect data
What are the current mega trends?
- Rapid urbanisation
- Climate change and resource scarcity
- Shift in global economic power
- Demographic and social change
- Technological breakthroughs
What are environmental analysis tools
An environmental analysis is a strategic analysis tool to identify all of the external and internal factors that can affect a company’s performance.
The purpose is to assess the level of risk various environmental factors pose as well as the business opportunities they present.
What is Pestel analysis used for
Introduction. A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation.
It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making.
What are the 6 PESTEL factors
PESTEL is an anagram, meaning it is a word that created by using parts of other words.
In particular, PESTEL reflects the names of the six segments of the general environment: (1) political, (2) economic, (3) social, (4) technological, (5) environmental, and (6) legal.
Why is Porter’s 5 forces used
Porter’s Five Forces is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry’s weaknesses and strengths.
Five Forces analysis is frequently used to identify an industry’s structure to determine corporate strategy.
Sources
http://nila.lecture.ub.ac.id/files/2015/03/4th_Macroeconomic-and-industry-analysis.pdf
https://byjus.com/questions/what-are-the-three-main-concepts-of-microeconomics/
https://sites.google.com/site/jacquelinebusinessstudies/learning-content/business-environments
https://libguides.library.usyd.edu.au/c.php?g=508107&p=5994242
