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The natural environment is another important factor of the macro-environment. This includes the natural resources that a company uses as inputs that affects their marketing activities. The concern in this area is the increased pollution, shortages of raw materials and increased governmental intervention.
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
Though, the global environmental analysis describes the macro environment of a company. [1] A company is influenced by its environment. Many environmental factors, especially economical or social factors, play a big role in a company's decisions, because the analysis and the monitoring of those factors reveal chances and risks for the company's ...
Economic forces are the factors that help to determine the competitiveness of the environment in which the firm operates. [1] These factors include: [2] Unemployment level; Inflation rate; Fiscal policies; Government changes; These factors determine an enterprise’s volume of demand for its product and affect its marketing strategies and ...
Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more sustainable methods of managing those resources to ensure their availability for future ...
Natural resources flow through the economy and end up as waste and pollution. A simple circular flow of income diagram is replaced in ecological economics by a more complex flow diagram reflecting the input of solar energy, which sustains natural inputs and environmental services which are then used as units of production. Once consumed ...
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Material input per unit of service (MIPS) is an economic concept, originally developed at the Wuppertal Institute, Germany in the 1990s.The MIPS concept can be used to measure eco-efficiency of a product or service and applied in all scales from a single product to complex systems.