It’s about where you are, not what you are
The Macro-environmental component examines six main areas, the detail depending on the involvement of the business and involvement required by the industry.
The audit covers the following broad areas.
- What major demographic developments and trends pose opportunities or threats to the company?
- What actions has the company taken in response to these developments and trends?
- What is the outlook for the costs and availability of natural resources and energy needed by the company?
- What concerns have been expressed about the company’s role in pollution and conservation, and what steps has the company taken/planned?
- What major changes are occurring in product and process technology?
- What is the company’s position in these technologies?
- What major generic substitutes might replace the company product/s?
- What changes in laws and regulations might affect marketing strategy and tactics?
- What is happening in the areas of pollution control, equal employment opportunity, product safety, advertising, price control, etc, that affects the marketing strategy?
- What is the public’s attitude towards business and toward the company’s products?
- What changes in customer lifestyles and values might affect the company?