T1: t1: Influences Of Business Environments

Question 1

List the components of the micro environment

Answer 1

1. Mission, vision, goals, objectives
2. Organizational structure
3. Organizational culture
4. Organizational resources
5. Leadership
6. Business functions

Question 2

List the components of the market environment

Answer 2

1. Market
2. Suppliers
3. Intermediaries/agents
4. Competitors
5. Civil society

Question 3

What is the civil society component of the market environment made up of?

Answer 3

1. Regulators
2. Strategic allies
3. Unions

Question 4

What is the civil society component of the market environment made up of?

Answer 4

1. Regulators
2. Strategic allies
3. Unions

Question 5

List the components of the macro environment

Answer 5

1. Physical/natural environment
2. Social/cultural/demographic environment
3. Technological environment
4. Legal and political environment
5. International/global environment
6. Institutional environment

Question 6

List the ways that businesses can be involved in the macro environment

Answer 6

• Collective bargaining and lobbying
• Private-public partnership
• Privately owned services to community/country
• Job creation
• Increased involvement in SRI
• Government tenders
• Expansion into Africa
• Taking the lead in technology

Question 7

What are four advantages of business involvement in the macro environment?

Answer 7

1. Keeping up with latest technology ensures the largest possible market
2. Ensures that the business works within the policies, laws, and regulations that govern businesses
3. Businesses can accurately predict future events, opportunities and threats that may arise
4. Preventing environmental damage by being sustainable and environmentally aware