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MNG4801 Assignment 2 2024 (276844) - 19 July 2024
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MNG4801 Assignment 2 2024 (276844) - 19 July 2024 QUESTIONS AND ANSWERS
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[Date]MNG4801 Assignment
2 2024 (276844) - 19
July 2024
QUESTIONS AND ANSWERS
, MNG4801 Assignment 2 2024 (276844) - 19 July 2024
Question 2:
2.Critically analyse the macro-environment of The Shoprite Group. As part of
your analysis,you should first, provide a brief theoretical discussion of change
in the external environment.Then, critically analyse the effect of change on the
factors and forces in the macroenvironment evident in the Shoprite case
study. Conclude your discussion by advisingsenior management at Shoprite
on the measures they can take to assessmacroenvironmental turbulence.
Analyzing the macro-environment of The Shoprite Group involves examining the
broader external factors and forces that impact the company's operations,
strategies, and performance.
Theoretical Discussion of Change in the External Environment:
The external environment of a company consists of several elements, often
analyzed using frameworks like PESTEL (Political, Economic, Social,
Technological, Environmental, Legal) or STEEPLE (adds Ethical factors). Change
in the external environment refers to shifts, trends, or developments in these factors
that can affect businesses.
1. Political Factors: These include government policies, regulations, stability,
and geopolitical issues. Changes in political leadership, trade policies, or
regulatory frameworks can impact businesses through altered market
conditions or compliance requirements.
2. Economic Factors: Economic variables such as GDP growth, inflation,
interest rates, exchange rates, and consumer confidence influence consumer
spending patterns, investment decisions, and overall market demand.
3. Social Factors: Demographic trends, cultural shifts, lifestyle changes, and
societal values shape consumer preferences, buying behaviors, and market
dynamics. Companies need to adapt to evolving social norms to remain
relevant and appealing to their target audience.
4. Technological Factors: Advances in technology, digital innovation,
automation, and the rise of artificial intelligence impact business models,
operational efficiency, product development, and customer experience.
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