Ahuja, Hill. Economic Environment of Business (Macro Eco. Analysis). Michigan: S. Chand Limited, 2010. Print.
He further states that the difference between the best performing and poorly performing business firms is that the other is not keeping pace with the macro technologies, in delivering their services to their clients. However, the legal establishments that govern the use of each of these technologies are what sometimes hold back the organization’s ability to make use of these technologies. For instance, this software needs genuine license to use, and that is what is considered a strenuous cost factor. Sometimes, other business operators may wish to modify the software to suit their operations, and under such circumstances, the law may be punitive and forbids anyone from effecting such changes. Such legal limitations govern businesses, and they must learn to put up with them.
Lim, Manuel. Industry analysis for business policy and planning. California: Sinag-Tala Publishers, 2009. Print.
Lim defines macro analysis as a tool has enabled the business to come up with realistic policies to guide them in the business environment. This approach enables business operators to establish crucial information underlying every target market and be able to determine the viability of a given business idea in any target environment. The laws that govern the establishment and running of the business in any place are also part of the content in industry analysis.
Macro analysis uses a coded procedure in established facts based on geography of the place, and this will make up the history of any business and the potential of growth in the place of the target. The other context of industry analysis is the fact that economic growth patterns in the geographical region chosen are also established. The competition data; a list of both local and international competitors for the same market is another crucial item for policy and planning. Any business is risky conscious, and as such, industrial analysis will give the stakeholders the opportunity to gain an understanding into the potential risks, and limitations involved in the business they will be running. This information is considerably critical in establishing the future of the business before going ahead to roll out the business.
Information that is needed before establishing a business must be treated with a threshold of compromise. This is the reason for no single information about the market, no matter how perfect it is, can be enough to ascertain the market. This is because a market is a combination of compromising and sometimes competing factors that can only be evaluated against a model market.
References
Ahuja, H. (2010). Economic Environment of Business (Macro Eco. Analysis). Michigan: S. Chand Limited
Lim, M. (2009). Industry analysis for business policy and planning. California: Sinag-Tala Publishers
