macro (adjective, mac-ro, \ ˈmækroʊ \) environment (noun, en-vi-ron-ment, \ ɪnˈvaɪrənmənt \)
Definition: involves all the major, significant external factors that might influence a business and its operation. These factors are usually uncontrollable and may affect business’s strategies, the decision-making process, and the overall performance. These factors may include legal circumstances, economy, political conditions, demographics, social factors, technological development and changes, natural forces and disastrous weather, changes of customers’ tastes and cultural conditions, inflation, law and government regulations, and so on. A macro environment is a set of conditions that belong to the field of economy in general rather than to a specific economic industry or sector.
In a Sentence:
- It looks like the macro environment isn’t going to change within the next 6 months, so we are able to concentrate on the micro factors for now.
- The macro environment is constantly changing, causing us to develop new, advanced business strategies.
- One of our main goals is to be able to adjust to all the changes in the macro environment quickly and without significant losses.
Synonyms and related words: micro environment, macro environment analysis, business environment, demographic environment, economic environment, natural environment, political environment, technological environment
