Influences And Challenges Of The Business Environments C1

Question 1

Ways in which businesses can be involved in the macro environment

Answer 1

~Influencing suppliers by signing LT contracts.
~Knowing government regulations & operating within them
~Working within the law to set up contracts

Question 2

Challenges of the micro env.

Answer 2

Difficult employees 
Unions 
Strikes and Go slows 
High employee turnover
Employee absenteeism

Question 3

Challenges of the market env.

Answer 3

Competition 
Shortage of supply
Changes in consumer behavior
Psycographics and Demographics 
Socio-cultural factors

Question 4

Challenges of the macro env.

Answer 4

Changes in income levels
Political changes
Labour restrictions 
Micro lending 
Socio economic issues 
Socio economic challenges