Environments

Question 1

MARKET ENVIRONMENT

Answer 1

-no control but you can influence it 
components 
- customers    - non governments organizations 
- suppliers      - regulators
- trade unions 

Porters five forces model

Question 2

MACRO ENVIRONMENT

Answer 2

No control 
Components 
-natural      - institutional 
-global       - political
- social       - technological 
- economic 
PPEESTLE- physical , political , environmental, ethics , social ,legal , economic and technological

Question 3

environmental scanning

Answer 3

Benefits- indemnifies threats
- identifies possible opportunities
- keeps a finger on competitors
Before starting a business: size of potential market , viability of product or service, stability of resources
Continuous environmental scanning- on going , market : porters five and swot

Question 4

Sectors of economy

Answer 4

Primary
Secondary
Tertiary

Question 5

MICRO ENVIRONMENT

Answer 5

• you can control it
• vision , mission and goals and objective
  Components
• goals - structure
• management - resources
  -culture - 8 functions

Value chain analysis