Chapter 1 😔(im Tired )

Question 1

What does the micro environment include?

Answer 1

Everything inside the business

This encompasses vision, mission statement, goals, organizational structure, resources, culture, and eight business functions.

Question 2

What are the components of the micro environment?

Answer 2

• Vision
• Mission statement
• Goals
• Organizational structure
• Resources
• Culture
• Eight business functions

Question 3

What is the market environment?

Answer 3

The immediate external environment of the business

A business has little control over this environment.

Question 4

What factors are included in the market environment?

Answer 4

• Customers
• Suppliers
• Intermediaries
• Competitors

Question 5

What constitutes the macro environment?

Answer 5

The broad external environment of the business

This includes social, political, legal, and economic factors.

Question 6

Fill in the blank: The _______ environment includes customers, suppliers, intermediaries, and competitors.

Answer 6

market

Question 7

True or False: The micro environment is everything outside the business.

Answer 7

False

Question 8

Fill in the blank: The _______ environment is the internal business environment.

Answer 8

micro