MICRO VS MICRO ENVIRONMENT

 Major or key differences that differentiate Micro and Macro environment are mentioned as below:

• The micro-environment is a specific environment that is in close contact with the organization. Wherein, the macro-environment is general to the organization that can make an impact on all business functions.

• The micro-environment factors can affect a specific business, whereas factors of the macro-environment influence whole business groups.

• Factors of the micro-environment are under control of the organization but controlling the macro-environment factors is next to impossible for organizations.

• Micro-environment factors include internal factors i.e. customers, suppliers, competitors, etc. whereas macro-environment has external factors like political, social, economic, etc.

• Micro-environment factors functioning revolve around the strengths and weaknesses of an organization which is internal to it. However, macro-environment factors are concerned about opportunities and threats in the external market of an organization