Exam (elaborations)
MNG4801 ASSIGNMENT 3 SEMESTER 2 2023 (780356)
- Course
- MNG4801 (MNG4801)
- Institution
- University Of South Africa
QUESTIONS AND ANSWERS
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MNG4801 ASSIGNMENT 3SEMESTER 2 2023
(780356)
lenovo
[COMPANY NAME] [Company address]
, MNG4801 ASSIGNMENT 3 SEMESTER 2 2023
Question 2:
2.Discuss the strategic importance of the macro-environment on an
organisation’s situation. As part of your discussion, identify and describe the
specific macroenvironmental factors/forces that affected Mr Price. You need
to support your discussion by integrating the relevant theory in your
discussion with practical examples from the case study. <Your answer should
be 1 page> Total: [10]
The macro-environment plays a pivotal role in shaping an organization's situation,
influencing its strategies, decisions, and overall success. In the case of Mr Price, a
prominent South African retail company, several macro-environmental factors
have had a substantial impact on its operations and strategic direction.
Economic Forces: The economic environment significantly affects Mr Price's
business. Economic fluctuations, such as recessions and currency exchange rates,
impact consumer spending habits. For example, during economic downturns,
consumers tend to be more price-conscious, which aligns with Mr Price's value-
oriented strategy. The company's ability to adapt to these economic changes has
allowed it to thrive.
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