1st Quarter Reviewer A.E. Flashcards
(41 cards)
1
Q
- It includes “all internal and external factors that affect the company’s performance” and functions.
A
Business Environment
2
Q
- It includes “employees, customers, management,” supply, and demand, business regulations and competition
A
Business Environment
3
Q
- Is a “process used by organizations to monitor” their external and internal environments
A
Environmental Scanning
4
Q
- Is a “strategic tool in assessing” the level of threats or opportunities that might affect the business
A
Environmental Analysis
5
Q
- The environment of the organization consists of “factors that are controllable” by the management.
A
Internal Environment
6
Q
- These “elements lie within the organization” and any changes to them can affect the overall success of the business.
A
Internal Environment
7
Q
- These environment factors are “beyond the control” of the business
A
External Environment
8
Q
- It is a “small scale” of environmental factors.
A
Micro Environment Factors
9
Q
- It is a “wide scale” of environmental factors
A
Macro Environment Factors
10
Q
- Can “control the success of the business” when they hold power.
A
Suppliers
11
Q
- Have a great “contribution the delivery of products” to the consumers.
A
Resellers
12
Q
- An “individual or business that purchases goods” or services
A
Customers
13
Q
- These are about how and to “what degree a government intervenes”
A
Political Factors
14
Q
- Have a significant impact on how an organization does business and “how it is profitable”
A
Economic Factors
15
Q
- Companies need to know what is and what is not “legal in order to trade successfully”
A
Legal Factors
16
Q
- These factors have become important due to the “increasing scarcity of raw materials and population targets.”
A
Environment Factors
17
Q
- Is a “framework used to evaluate a company’s competitive position” and to develop strategic planning
A
SWOT Analysis
18
Q
- Is a “technique for assessing the performance”, competition, risk, and potential of a business
A
SWOT Analysis
19
Q
- Describe “what an organization excels” at and what separates it from the competition
A
Strengths
20
Q
- “Stop an organization” from performing at its optimum level.There are areas where “business needs to improve”
A
Weaknesses
21
Q
- Refers to “favorable external factors” that could give an organization a competitive advantage
A
Opportunities
22
Q
- Refers to factors that have “potential to harm an organization”
A
Threats
23
Q
- Was originally “developed by Michael E. Porter” of Harvard Business School
A
Porter’s Five Forces Analysis
24
Q
- Is a framework or a guide for assessing and evaluating the “competitive strength and position of business organization”
A
Porter’s Five Forces Analysis
25
25. "Identifies the five forces" that determine the competitiveness and attractiveness of a market
Porter's Five Forces Analysis
26
26. "How intense the competition" currently is in the market, which is determined by the number of existing competitors and what each is capable of doing
Competitive Rivalry
27
27. How much "power a business’ suppliers" have and how much control it has over the potential to raise its prices
Bargaining Power of Suppliers
28
28. The "power of the consumer" to affect pricing and quality
Bargaining Power of Buyers
29
29. This force "examines how easy or difficult it is for the competition to join" the marketplace in the industry being examined
Threat of New Entrants
30
30. Products or Services: How easy it is for consumers to "switch from a business’s product or service to that of a competitor."
Threat of Substitute Products or Services
31
Diagram of Business Environment
Business Environment =
Internal Environment & External Environment
Internal Environment
- Value System
- Mission and Objectives
- Organizational Structure
- Corporate Culture
- Quality of Human Resources
- Labor Unions
- Physical Resources and Technological Capabilities
External Environment =
Micro Environment & Macro Environment
Micro Environment
- Organization
- Customers
- Competitors
- Market
- Suppliers
- Intermediaries
Macro Environment
- Economic
- Political - Legal
- Technological
- Global
- Socio - Cultural
- Demographic
32
Business Environment have:
Internal Environment
External Environment
33
7 Internal Environment
- Value System
- Mission and Objectives
- Organizational Structure
- Corporate Culture
- Quality of Human Resources
- Labour Unions
- Physical Resources and Technological Capabilities
34
External Environment have:
Micro Environment
Macro Environment
35
6 Micro Environment:
- Organization
- Customers
- Competitors
- Market
- Suppliers
- Intermediaries
36
6 Macro Environment
- Economic
- Political - Legal
- Technological
- Global
- Socio - Cultural
- Demographic
37
2 Business Environment
1. Internal Environment
2. External Environment
38
3 Micro Environment Factors
1. Suppliers
2. Resellers
3. Customers
39
6 Macro Environment Factors
1. Political Factors
2. Economic Factors
3. Social Factors
4. Technological Factors
5. Environment Factors
6. Legal Factors
40
4 SWOT Analysis
1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
41
5 Porter's Five Forces Analysis
1. Competitive Rivalry
2. Bargaining Power of Suppliers
3. Bargaining Power of Buyers
4. Threat of New Entrants
5. Threat of Substitute Products or Services
