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Macro environment
Micro Environment
Internal
Environment
TYPES OF ENVIRONMENT
Human Resources
Micro Macro
Environment Environment
MICROENVIRONMENT
Suppliers
Market
Publics
Intermediaries
Customers Competitors
MACROENVIRONMENT
Economic Environment
The totality of economic factors, such
as employment, income, inflation, interest
rates, productivity, and wealth, that influence the buying
behaviour of consumers and institutions.
Economic environment can be divided into three parts. We
shall now study their effect on business. They are as under:
(i) Economic system
(ii)Economic policies
(iii) Economic conditions
(i) Economic System:
It is necessary to know about the economic system prevailing
in a country in order to understand the economic
environment. Economic system influences the freedom or
openness of business. Economic system is mainly of three
kinds:
For many years in the past, India did not have a favorable
attitude towards latest technology to meet foreign
standards. The reservation of products for the small scale
sector sometimes comes in the way of adoption of modern
technology if it involves capital investment higher than the
specified limit.
Technological environment in 1990s
It is only after the introduction of liberalization and
globalization of Indian economy drastic changes have come
in the technological standards in India. Also very high duty
structure made the import of latest technology not only
expensive but also almost impossible.