This set of notes cover the IEB/DBE topic of Environments and Strategies. They include pictures and are in-depth notes. These will be a sufficient source to study this section and prepare for your final Business Studies Exam.
Note: These notes are recommended for IEB students - as some informatio...
BUSINESS ENVIRONMENTS
Summaries of the Environments:
THE MACRO ENVIRONMENT (external, little control)
• Analysed with a SWOT analysis or using PESTLE(EP) analysis
1. POLITICAL
2. ECONOMIC
3. SOCIAL
4. TECHNOLOGICAL
5. LEGAL
6. ETHICAL
7. ENVIRONMENTAL
8. PHYSICAL
THE MARKET ENVIRONMENT (external, some control)
• Analysed with a SWOT or using the Porters 6 Forces model
1. COMPETITORS
2. CONSUMERS
3. SUPPLIERS
4. INDUSTRY REGULATORS
5. STRATEGIC ALLIANCES
6. TRADE UNIONS
7. NGOS
8. CBOS
9. EMPLOYER ORGS
10. INTERMEDIARIES
11. OTHER
THE MICRO ENVIRONMENT (internal, most control)
The internal factors that will influence the performance of the business.
Business has the most control in this environment, but never absolute control, as
there are always other variables such as personalities of employees, stock
becoming obsolete, etc…
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