Interrelationship between business environments

Question 1

Provide the definition of Remunerate.

Answer 1

Payment that a worker receives for performing a job for business.

Question 2

Give 4 points describing the link between components of micro environment in terms of Functions.

Answer 2

• GM function coordinates all other functions in business to achieve the mission and vision of the business.
• Departments within depend on and influence each other when they perform duties.
• Marketing gives feedback from customers to production.
• Some depend on others for their resources.

Question 3

Explain the link between components of the micro environment in terms of Employer and employee.

Answer 3

• Employer depends on employees to perform certain duties.
• Employers consult their employees when devising strategies.

Question 4

Give 4 examples of the relationship between business and market.

Answer 4

• Business and consumer
• Business and supplier
• Business and intermediaries
• Business and competitors