CAPS BS 11 TERM 1 WEEK 1 Influences on Business Environments
TOPIC – Influences on business environments
• Examination of control factors, e.g. more control over micro environment, less control over market environment and even less control over macro environment
• Ways to be involved in macro environment – if beneficial to business
— Micro environment
The business mission and objectives, its management structure, its resources and its culture are primarily controlled by the enterprise’s management.
— Market environment
The customers, suppliers, competitors, regulators and strategic allies and unions give rise to particular opportunities and threats. Business has no control over the factors.
— Macro environment
Enterprise in relation to the macro environment, i.e. economic, techno-logical, and political environments