What is the external micro environment?
The external micro environment is the outside environment in which an organization operates and has limited control over. It consists of political, economic, social, technological, environmental, and legal forces that can affect how a business operates, its costs, and the demand for its products. An organization must monitor, analyze, and adjust to the external micro environment in order to remain competitive and achieve its objectives. It can also take advantage of opportunities that arise from changes in the environment. By understanding and preparing for the external micro environment, an organization can improve its strategic planning and decision-making.more