Macro Environment Essay

1.1. There are 6 variable components of the macro environment, Namely:
 Technological
 Social
 Economic
 International
 Physical
 Institutional

1. TECHNOLOGICAL
Change in the environment is commonly a manifestation of technological in modernisation. This technological modernisation results not only in machinery or products, but as well as in new processes, methods, services and approaches to management. Johnson Matthey functions in an industry determined to have the most advanced technology. To remain in the lead, the company requires a highly experienced and skilled workforce to create more new and professional ways of meeting challenges.

2. SOCIAL
The social environment affects the running of a business indirectly in the form of customer behaviour and directly in the form of employees that work for the business. Humans are they main element that make up society. Johnson Matthey products main intentions is to have a positive impact on society and the environment. It creates techniques to help control and prevent pollution in the oil filtering processes. These compounds speed up the filtering process and helps decrease the sulphur content of petrol, as sulphate is a major pollutant. By Johnson Matthey conserving the environment and being concerned about pollution levels, it shows that they care about human beings wellbeing, health and safety. It is evident in the case study that they are trying their best to prevent pollution caused by vehicles.

3. ECONOMIC
Johnson Matthey products have become so popular and efficient that a lot of countries want to use their products. They already have operations in over 30 countries, and have employed around 11 000 people. This of course brings rewarding income into the company, and...

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...preneurs are constantly looking to add new products to the business field, while high growth entrepreneurs are fundamental for the economy.
In conclusion, entrepreneurs creates forms of employment, there by uplifting the unemployment rates. This benefits both the economy and society. It also raises the standards of living, by proving the employed with income. It also uses the countries resources productively and intelligently, making great innovations that will make life easier for the society. Entrepreneurs bring social benefits to the government. Without having entrepreneurs in our economies, there would be poor development in the country, and we would mostly have to rely on primary sources by means of developing our country further. Entrepreneurs are the risk takers willing to proceed with action and explosive innovations to better the economy, and better life.