Business Enviroments

Question 1

Macro def=

Answer 1

NO CONROL!!!
-Part of external environment
-Business have no control over events taking place.
-Events occurring in the business, may impact on events in the macro environment
Tools may be used to analyze the macro environment to: make business better.

Question 2

Market environment def=

Answer 2

LITTLE TO NO CONROL
-Where goods and services are bought and sold
When conducting an ENVIRONMENTAL SCAN- identify issues and opportunities and threats in market environment

Question 3

Macro environment eg;

Answer 3

Petrol prices are not controllable
Inflation is is not controllable
Climate change is not controllable

Question 4

Market environment eg:

Answer 4

When selling goods at school your market environment are the people in that environment aka your market
IT IS YOUR MARKET IN YOUR ENVIRONMENT LITERALLY

Question 5

Micro environment def=

Answer 5

FULL CONTROL
- part of internal environment

Question 6

Micro environment 8 functions:

Answer 6

*purchasing
*production
*human capital
*Financial
*public relations
*Administrative functions
*General management
*Marketing

Question 7

Industry sectors:
Primary

Answer 7

Extraction of raw materials
- such as farming, mining

Question 8

Industry sectors:
Secondary

Answer 8

Involves the manufacturing of raw from the primary sector
Scarfs, jeans, t-shirts

Question 9

Tertiary
Industry sectors

Answer 9

The selling process, buying of products. Involves the provision of goods + services
- Picnpay

Question 10

Quarternary:
Industry Sectors

Answer 10

-Review of the product with continuous research to make it better
- involves in the research of science +technology
E.g= TESIA, online shopping, if u can put less chemicals in bread to make it healthier

Question 11

Quinery
Industry sectors

Answer 11

-High level decisions by government
E,g- media, government decisions =load-shedding

Question 12

Business sectors
Public

Answer 12

• Are= The business owned by the government. They provide collective services
• e.g= education, healthcare, police

Question 13

Business sectors
Private

Answer 13

• Established by private entrepreneurs
  Primary purpose is PROFIT
• divided into formal sector and informal sector

Question 14

Formal
Business sectors

Answer 14

• Are: Businesses that are registered for tax to the South Africa Revenue Services (SARS)
  -SARS form part of the GDP= ( Gross Domestic Profit)

Question 15

GDP def=

Answer 15

Total number of goods in a country

Question 16

Business sectors
Informal

Answer 16

• pay no tax
• traders and hawkers
  No formal location
• indirectly contribute to the economy