Macroenvironment refers to general trends and processes that affect the world and the company. For example, economic crisis or inflation factors refer to the macroeconomic environment. Other areas include technology, laws and regulations, and demographics.
The company cannot affect either of those areas, but it should adapt to the changes and develop strategies that allow flexibility during uncertain times. Events such as the COVID-19 pandemic had a tremendous effect on the macro environment, which forced businesses to adapt to the new reality.
Therefore, the most important forces in the microenvironment facing companies today include laws and restrictions associated with COVID-19 or recent changes in trade contracts caused by the Russian war against Ukraine. Changes in oil and gas prices affect all industries; hence companies need to adjust their budgets and strategies to match the changes in the global economy.