L5 l Micro Environment element l Business Functions l Additional Business Function

Question 1

What are the two additional business functions?

Answer 1

• Risk Management
• Management Information Systems (MIS)

Question 2

What is the role of Risk Management?

Answer 2

• Identifies risks that the business is exposed to.
• Makes risk strategies to minimize difficulties.

Question 3

What is the role of the Management Information Systems (MIS)?

Answer 3

• Will make sure that the necessary technology is available where and when needed.
• For example The Public Relations function will ensure that there are MIS in place to ensure all stakeholders have access to information through the website, email, Zoom, etc.