Chapter 1 Micro Environment

Question 0

What are the 6 components of a micro

Answer 0

Goals,culture structure,managements,resources, functions of business

Question 1

What is micro environment referred to

Answer 1

Internal enviro

Question 2

Goals are…
Mission statement gives…
Vision is…
Objectives are…

Answer 2

Long term
Gives clear direction
Provides a aim
Are short term aims to achieve a goal

Question 3

Organizational culture is..

Answer 3

A company goes about doing business

**informal style for some. Formal style for some

Question 4

Organizational resources are

Answer 4

Human resources
Physical resources
Financial resources
Other resources such as time

Question 5

What is management

Answer 5

The process by which an individual guides and directs an organization to reach its objectives

Question 6

What is leadership

Answer 6

The way an individual can influence the behavior of others towards accomplishing the objectives of the organization

Question 7

Organizational structure is…

Answer 7

Positions of management, the departments of employees

Question 8

What are the 8 business functions

Answer 8

General management. . Purchasing
Production Marketing
Public relations. Human resources
Administration. Finance

Question 9

Top management
Middle management
Lower management

Answer 9

Consists of executives- strategic direction
Departmental managers- one for each department
Lower management- duties to be carried out

Question 10

P
O
L
C

Answer 10

Planning
Organizing
Leading
Controlling

Question 11

Admin function

Answer 11

Collection of data and information of the business that is stored and distributed effectively

Question 12

Name 4 admin functions (13)

Answer 12

Filing
Receiving and sending emails
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Finance management
Staff leave ................

Question 13

Financing functions

Answer 13

Source of funding
Plan so that finances are spent most effectively
Audit and control
…….

Question 14

Types of finance

Answer 14

Start up
Cash flow
Replacement
Expansion

Question 15

Sources of finance

Answer 15

Bank loans
Overdraft
Asset based loans 
Grants
Receive able finance
Angel funding
Venture capital

Question 16

Diff between venture and angel

Answer 16

Venture-by individuals or organizations to start or expand a business

Angel-offer financing for a share in the business

Question 20

Cash

Credit

Answer 20

Money is exchanged directly

Goods and services are received but must be paid for over time

Question 21

National credit act 34 of 2005

Answer 21

Businesses need to apply to give credit
Consumers need to apply for credit
Maximum fees and limited interest rate charges are specified

Question 22

National consumer protection act 68 of 2008

Answer 22

Promote a fair consumer market
Strengthen the rights and respon… Of the consumer
Protect from unfair trade

Question 23

Methods of caring out public relations

Answer 23

Media
Brochures
Direct contact
Internet

Question 27

Types of capital

Answer 27

Fixed
Working
Own
Borrowed

Question 28

Purchasing NAME ALL 8steps

Answer 28

Need
Price
Supplier
Order
Follow up
Receive
Pay purchase
Complete

Question 29

Activities of purchasing function

Answer 29

Quality
Quantity
Timing
Price 
Suppliers
Place