Relationship Between Imternal And External Environment Flashcards
(13 cards)
What is a business environment
Surrounding conditions in which the business operates
These consist of various stakeholders each with an interest in the business while placing different demands
What’s the internal environment
Factors the business has some control over
What is the internal environment also known as
Micro environment
What are examples of employees in internal environment
Individuals working for a business
Expect to be paid fairly, treated ethically, and trained properly
What’s an. Example of managers in the internal environment
Oversee employees
Responsible for meeting business objectives
What’s the example of location in the internal
determining whether customers can see or access the business
what is the external environment
consists of all elements outside a business that may act as pressures or forces on business operations
-can be divided into operating and macro environment
what is the operating environement
specific outside stakeholders the business interacts in with conducting its business
what are two examples of the operating environment in the external environemt
suppliers and customers
what is the macro environement
broader conditions and trends in the economy and society within which a business operates
what are two examples of the macro environment
economic conditions and societal attitudes and behaviours
how does the external environment affect the internal environment
external environment has a much greater degree of influence on the internal environment of a business vice versa
how does the internal environment affect the external environment
business can sometimes influence various aspects of their operating environment and in rare instances even the macro environment to a small degree
