First I will talk about competitive of a business. The competitive of a business would be the firm and all the rival companies that would go up against the business; this would also include who supplies the business, customers that would shop with the business and buyers. Another way would be the process of improving a marketplace completion of understanding the business competitors and the competitive environment. Every business must gather information of what would be there competitive and how to be a better business then the other, or what the environment will do to the business. A business wants or should have a competitive advantage within the market it is doing business. Can a business have a competitive edge above its competition, and if so they need to come up with new ways to keep themselves above the competition. How a business manages it workers and company is just as important as how the keep up with today’s changing market. (Drucker, 2011,2009)
Microenvironment would be the legal, political, economic, technological, demographic, and social along with natural factors that will affect a business. (Drucker, 2011,2009). Every business that is out there works on a microenvironment, which is any if not all general elements that are in an external environment that may affect the decisions that would be strategic. A firm may have to make changes or be influenced by changes that are within the element of its environment that the firm cannot control. An example of this would be a business only caring flowers in the summer months because they do not have the right storage to keep them alive in the winter months. The social responsibility of a business would be that the business has the responsibility and is also expected to improve the welfare of society. People want to see