Chapter 5- Environments And Sectors Of The Economy Flashcards by Ben Shipster

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Q

What are the 8 business environments?

A

Purchasing
Production
Human resources
Administration
Marketing
Public relations
Finance
General management

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Q

Porter’s Five Forces evaluates:

A

Market environment

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Q

What do Porter’s Five Forces include?

A

Level of rivalry
Availability of substitute products
Threat of new entrants to market
Power of suppliers
Power of buyers

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Q

Give examples of NGOs

A

Industry regulators
CBOs
Trade unions and employer organisations

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Q

What is PESTLE used to evaluate?

A

Political
Physical
Economic
Social
Technological
Legislation
Environmental
Ethical

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Q

What three levels of government involvement are there in the economy?

A

Central government
Provincial level
Local authorities

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