Micro Environment

Question 1

What is the micro environment?

Answer 1

• the decision -making environment
• The business itself
• The immediate inside environment
  *

Question 2

What are the components of this environment?

Answer 2

*business functions
* Leadership/management
* Organisational resources
* Organisational structure
* Organisational culture
* Goals
* Objectives
* Vision
*Mission

Question 3

Define the vision , mission , goals and objectives

Answer 3

*vision is a statement that explain what the business aims to achieve .
* Mission is a statement that explains the reason for the business existence .
* Goals can be defined as long term objectives that the business aims to achieve .
* Objectives are steps/ tasks taken to reach goals

Question 4

What are the organisational resources

Answer 4

These are assets the the business uses to produce products and services.

Question 5

What are the kinds of organisational resources

Answer 5

*( TE) technological resources
* (HR) Human resources
*(PR) Physical resources
(FR)Financial resources
* (NR) Natural resources
*(ER) Entrepreneurial resources

Question 6

What is organisational culture

Answer 6

This refers to how things are done in the business .

Question 7

What is the organisational structure

Answer 7

• a hierarchy line of control/ order or power/ command