This document discusses the environment of business and identifies key stakeholders and components of a company's macroenvironment and competitive environment. The main stakeholders are stockholders who want returns, customers who want quality products and services, and employees who want jobs, wages and growth opportunities. The macroenvironment includes political/legal, economic, technological, and socio-cultural factors that influence companies. The competitive environment consists of a company's direct competitors, suppliers, substitutes, buyers and new entrants in an industry.

1. The Environment of Business III

4. The Components of a Company’s MACROENVIRONMENT Legislation and Regulation Societal Values and Lifestyles Population Demographics Technology The Economy at Large COMPANY Suppliers Substitutes Buyers New Entrants Rival Firms  IMMEDIATE INDUSTRY AND COMPETITIVE ENVIRONMENT