Factors And Roles Of The Macro Environment In South Africa
1. INTRODUCTION
Patricios states, “The development of the economy is driven by innovation” therefore more opportunities are created in the economy while consumers’ needs are achieved through new technology. In South Africa all of the organisations are functioning in the field of its own product and target market but if one takes a look at the bigger picture it is clear that businesses function in the South African business environment and sometimes in a more global environment. Therefore, it can be said that businesses are influenced by trends that are innovated in these broader fields of environments. The uncontrollable macro environment includes economic, technological, societal, legal, political and environmental influences or factors. Some of these factors have an influence on business practices in South Africa and their innovations therefore it is important to know and understand the macro environment in order to sustain and retain customers with or without these factors/influences. In the following essay the different trends will be discussed, following with discussing a fad. The importance of consumer drivers when identifying trends will be discussed just before how the macro environment can be a driver of change and finally the role of consumer trends in competitive advantage.
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