Chapter 1 Micro Environment Flashcards
What are the 6 components of a micro
Goals,culture structure,managements,resources, functions of business
What is micro environment referred to
Internal enviro
Goals are…
Mission statement gives…
Vision is…
Objectives are…
Long term
Gives clear direction
Provides a aim
Are short term aims to achieve a goal
Organizational culture is..
A company goes about doing business
**informal style for some. Formal style for some
Organizational resources are
Human resources
Physical resources
Financial resources
Other resources such as time
What is management
The process by which an individual guides and directs an organization to reach its objectives
What is leadership
The way an individual can influence the behavior of others towards accomplishing the objectives of the organization
Organizational structure is…
Positions of management, the departments of employees
What are the 8 business functions
General management. . Purchasing
Production Marketing
Public relations. Human resources
Administration. Finance
Top management
Middle management
Lower management
Consists of executives- strategic direction
Departmental managers- one for each department
Lower management- duties to be carried out
P
O
L
C
Planning
Organizing
Leading
Controlling
Admin function
Collection of data and information of the business that is stored and distributed effectively
Name 4 admin functions (13)
Filing Receiving and sending emails Advertisement Finance management Staff leave ................
Financing functions
Source of funding
Plan so that finances are spent most effectively
Audit and control
…….
Types of finance
Start up
Cash flow
Replacement
Expansion
Sources of finance
Bank loans Overdraft Asset based loans Grants Receive able finance Angel funding Venture capital
Diff between venture and angel
Venture-by individuals or organizations to start or expand a business
Angel-offer financing for a share in the business
Cash
Credit
Money is exchanged directly
Goods and services are received but must be paid for over time
National credit act 34 of 2005
Businesses need to apply to give credit
Consumers need to apply for credit
Maximum fees and limited interest rate charges are specified
National consumer protection act 68 of 2008
Promote a fair consumer market
Strengthen the rights and respon… Of the consumer
Protect from unfair trade
Methods of caring out public relations
Media
Brochures
Direct contact
Internet
Types of capital
Fixed
Working
Own
Borrowed
Purchasing NAME ALL 8steps
Need Price Supplier Order Follow up Receive Pay purchase Complete
Activities of purchasing function
Quality Quantity Timing Price Suppliers Place
