How can the micro (internal) factors that influence innovation in each organizat

Question

How can the micro (internal) factors that influence innovation in each organization be linked to Macro (external) factors that influence innovation within that organization as well? Write a short essay (1500 to 1700 words) on Macro and Micro Factors that positively or negatively influence innovation within any organization. Your essay should discuss and explain: .The concepts and ways through which these factors do influence the dynamics of creativity and innovation in the organization. Mention some of these factors and discuss them as examples to consolidate your answer. How and why some of the micro factors within an organization are linked to macro factors from outside it? How can the organization respond to these factors?

Explanation / Answer

Both macro and micro factors has significant role in shaping the company and decidng elements which affects the companys way forward.

Macro environmental factors are basically PEST. Political Economical Social and Technological. Political factors have direct influence over companys progress and failure. The beter the political factors more favirable for trade relationship. BRIC naations in the last two decade developed like anything majorly because of their favorable social and political system. Social factors is all bout accepting culture, favoring globalisation and creating global approac towards their business. Economical factors are better currency value and trade policies which helps companies to expand themself and serve better to their nation. and contribute for the GDP.. Technology anyhow its a common facor which has to be on a continous improvement mode. Artificial Intelligence. robotics kind of new technologies have reduced the turn around time, imporve the quality and service level. But threat is there on reduction of employment opportunities.

Micro factors include local legal policies, support from the local government and society, internal factors sucha as employee colloboration, cultural acceptance, skill set etc. Training and development, sustianbaility practice which create more good will to the company. Contributing and better coloborative environment creation can reduce the risk involve in this area. Along with that accepting cultural values and maitnating the heritage of it is equally important, CSR activities are also required for balancing the micro environmental issues.

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