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The major factors that constitute the general environment include political situations, economic conditions, social and cultural factors, technological advancements, legal/regulatory factors, natural environment, and demographics in a particular country or region. Therefore, business organizations must pay attention to customers’ income and consumption patterns. These examples demonstrate that management is multifarious, and not at all a recent phenomenon. Yet, when we hear the term management, most of us probably conjure an image something like that of a corporate vice president implementing a marketing strategy to meet quarterly sales goals. The irony is that the corporate manager is utilizing the same tools as those of the native hunter, Spanish fleet admiral, and sophomore gamer. Management is both universal and ubiquitous in that we all use variations of its elements. Mintzberg, H. The Nature of Managerial Work (New York: Harper & Row, 1973); D. Lamond, “A Matter of Style: Reconciling Henri and Henry,” Management Decision 42, no. 2 (2004): 330–56.
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The legal environment consists of laws and regulatory frameworks in a country. Many laws regulate the business operations of enterprises, such as the Factories Act, Industrial Relations Ordinance, the Contract Act, and the Company law, just to name a few. Managers are benefited in several ways when they have a deep understanding and appreciation of the impact of environmental factors on business: As I reflect on management as a foundational discipline, I remember how my high school baseball coach approached our team after a losing season. We were not a good team because we did not have fundamentals of how to grip a baseball, how to stand in the batter’s box, or how to field a ground ball. That next year, he taught us all of these fundamentals and we won a lot of games. It seems to me that learning fundamentals of management can have the same impact. Being able to execute the four functions of management allows us to get better at how we approach marketing a new product, or improving operations processes.In many countries, rural-urban migration is rampant. These trends suggest numerous opportunities for firms to develop products and services to meet the needs of diversified groups of people in society. Reasoning organizational skills. These are skills like time management, analytical thinking, planning, delegation, and communication. They make it possible for a manager to organize a smooth work process, creating conditions for people to collaborate and finding the most optimal ways to achieve the goal. Establishing rules and standards also belongs to this category.
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The political factors of the general environment refer to the business-government relationship and the overall political situation of a country. For example, a leasing company may emerge as a competitor of the companies in the banking industry in terms of attracting deposits and providing loans to business houses. Delegation. It’s impossible to do all the work by yourself, and for this reason, managers delegate. This means a manager must know the people on the team well, to be able to assign tasks to the right people, based on their skills. A manager's role, however, involves working with an organization as a system to make it function effectively. Managers control all the processes and make sure that a good or a process is produced on time and within a budget. They focus on how things need to be done and when.
As the foundation of the organization’s internal environment, it plays a major role in shaping managerial behavior. And the overall situation of law implementation and justice in a country indicates that there is a favorable situation in business in a country. Environmental / Natural Factors
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