Micro environment

Question 1

Business functions

Answer 1

Various departments in the business which require specific knowledge

Question 2

Goals

Answer 2

Long term plans of what the business what to achieve

Question 3

Leadership

Answer 3

The way an individual influences others behaviour

Question 4

Management

Answer 4

The way in which a business is managed Entails planning, leading, organising and controlling

Question 5

Micro-economics

Answer 5

Everything happening inside the business
All internal factors
Business has full control

Question 6

Misson statement

Answer 6

What the business provides or produces

Question 7

Objective

Answer 7

How will the businesses goals will be achieved

Question 8

Vision

Answer 8

Dream of the business

Question 9

Internal enviroment

Answer 9

Environment which business operates
Decision making environment

Question 10

Components of micro environment

Answer 10

Vision
Mission statement
Goals
Objectives
Leadership and management
Organisational resources
Eight businesses functions
Organisational culture and structure

Question 11

Explanation of vision

Answer 11

What the business aims to achieve
Answer to the question where are we going from here

Question 12

Explanation of mission statement

Answer 12

Purpose and basic activities of the business
What it does to achieve vision

Question 13

Explanation Goal

Answer 13

Long term objectives
Sense of direction

Question 14

Explanation of Objectives

Answer 14

Short term tasks
Deadline for achievement

Question 15

organizational culture

Answer 15

How things are done in the business
Employee communicate
Dress code
Administration policy
Values
Beliefs
Standards that are shared

Question 16

Purpose of organisational culture

Answer 16

Identify Internal and external factors
Power to turn employees to ambassadors
Retrain employees and clients
Breakdown boundaries between teams

Question 17

Organizational resources

Answer 17

Assets businesses use to provide goods and services

Question 18

Types of organizational resources

Answer 18

Human resources
Physical resources
Natural resources
Financial capital
Enterpreneurial resources

Question 19

Human resources

Answer 19

People with knowledge and skills
Contribute to achieving goals of the business

Question 20

Natural resources

Answer 20

Assets from nature used to offer goods and services

Question 21

Physical resources

Answer 21

Raw materials used to operate the business

Question 22

Financial resources

Answer 22

Money invested to aquire production goods

Question 23

Technological resources

Answer 23

Computers, emails, voicemail, production tools that give businesses an advantage over competitors

Question 24

Entrepreneurial resources

Answer 24

Responsible for combining factors of production to generate income

Question 25

Leardship values

Answer 25

Influence, inspires and motivate subordinates

Question 26

Management values

Answer 26

Plan, leads, organize and controls

Question 27

organizational structure

Answer 27

Shows how different departments in a company. It's also called organogram

Question 28

Purpose of organizational structure

Answer 28

Makes business run smoothly and efficiently Helps businesses reach its goals

Question 29

Factors that influence organizational structure

Answer 29

Size of organization Strategy Technology Resources

Question 30

Functional organizational structure

Answer 30

Employees report to multiple managers Businesses tasks determine who gives values

Question 31

Project organizational structure

Answer 31

Focused on projects Employees are grouped in temporary project teams

Question 32

Matrix organizational structure

Answer 32

Employees work on projects in their original departments Projects are handed out to different teams

Question 33

Business functions

Answer 33

General management Production function Public relations function Purchasing function Market function Human resource function Administration function Financial function

Question 34

General management

Answer 34

Co ordinates all the other functions

Question 35

Purchasing function

Answer 35

Responsible for buy resources

Question 36

Production function

Answer 36

Responsible for turning raw materials into finished goods

Question 37

Public relation function

Answer 37

Responsible for creating company image

Question 38

Human resource function

Answer 38

Responsible for attracting new employees

Question 39

Market function

Answer 39

Responsible for advertising and promoting goods and services

Question 40

Administration function

Answer 40

Collecting, processing and storing data and information