MNG4801 Assignments 2 2023 (ANSWERS)
QUESTIONS ASKED.
Assignment 2
70 Marks
Due date: Refer to the MNG4801 module site
Message to students:
This is your second (2
nd) assignment. Use this assignment as an opportunity to properly
engage in the learning material and articles and to learn...
, 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 crucial role in shaping an organization's situation and
overall strategic decisions. It refers to the external factors and forces that are beyond the
control of the organization but have a significant impact on its operations, performance,
and sustainability. Understanding and analyzing the macro-environmental factors is
essential for organizations to identify opportunities and threats, adapt to changes, and
develop effective strategies.
In the case of Mr Price, a South African retail company, several macroenvironmental
factors influenced its situation:
Economic Factors: Economic conditions have a direct impact on consumer spending and
purchasing power. Mr Price faced challenges due to South Africa's economic fluctuations,
characterized by high unemployment rates and low disposable incomes. These factors
affected consumer demand and their ability to spend on discretionary items, impacting the
company's sales and profitability.
Social and Cultural Factors: Social and cultural factors shape consumer preferences,
lifestyles, and buying behavior. Mr Price adapted to changing social trends, particularly the
rise of value-conscious and fashion-conscious millennials. The company targeted this
segment by offering trendy yet affordable clothing, attracting customers who desired
fashionable products at lower prices.
Technological Factors: Technological advancements significantly influence the retail
industry. Mr Price leveraged technology to enhance its operational efficiency and improve
the customer experience. For example, the company implemented an e-commerce
platform, allowing customers to shop online, browse products, and enjoy the convenience
of home delivery. Embracing technology helped Mr Price stay competitive and meet
evolving customer expectations.
Political and Legal Factors: Political stability and government policies impact businesses.
Mr Price had to navigate regulatory frameworks and comply with labor laws in South
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