THE SEVENTH ELEMENT OF BUSINESS

Macro environment of business consists of six elements - Economic, Political/Legal, Socio-
Cultural, Demographic, Technological and Global environment. However, due to the growing
significance of climate change as a macro-environmental factor for businesses, it should also be
considered as one of the elements of the macro environment of business. The importance of
Climate change as an element of the macro environment of business enterprise cannot be
denied and we would discuss this from the entrepreneurial perspective taking into account the
strategic ramification it has for the entrepreneurs of this generation. To expand the discussion
we would have to consider entrepreneurship and strategy management in one continuum. For
which we would have to restrict the boundaries of both the fields of study. Further we would
qualify climate change as an integral part of the macro environment of business by comparing
it with the other elements of the macro environment of business. We would end by providing
justification to this research project so that including climate change as an element of the macro
environment of business would become a logical choice for today‟s entrepreneurs.
The following article is to present the importance of Climate change as an element of the macro
environment of business enterprise. Therefore, we would be dealing with the fields of strategic
management and entrepreneurship together. Entrepreneurship is as observable as is strategic
management. Many theories have been propounded in each field of study and to observe them
from a research point of view it is imperative to circumscribe the subject itself1. In our case we
would be working with both of them together and thus would require seeing both the fields in a
single continuum and studying them in a context that would allow the research to yield an
acceptable outcome.