Summary
Summary Influences and Challenges of Business Envrionments
- Course
- Business Studies
- Institution
- 11th Grade
This document covers the Business Environments and possible exam questions.
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BUSINESS STUDIESGRADE 11
TERM 1
TOPICS TO COVER:
➢ Influences on the business environments
➢ Challenges of the business environments
➢ Adapting to challenges of the business environments
➢ Contemporary socio-economic issues
, Influences on business environments
Business environments include the variables that occur in all three environments.
These variables influence survival of the organisation. These variables are divided
into the following:
➢ The micro-environment
➢ The market environment
➢ The macro environment
There are two types of environments which namely the internal environment and
the external environment.
➢ The internal environment consists of the micro-environment of the
businesses that is the actual business itself.
, ➢ The external environment consists of the market and macro environments of
the business. The market environment is its operating environment, and the
macro environment is the general environment surrounding the business.
1. Name is the characteristic of a business environment
➢ The business environment is made up of many parts.
➢ All the parts are interdependent and interrelated.
➢ The business environment is uncertain and unstable and can vary from time
to time.
➢ The business environment is dynamic and unstable. Businesses must be
prepared to be both initiative-taking and reactive, they must adapt to
changes.
➢ The external business environment can have a significant impact on a
business that it must adapt to survive. For example, the current global
recession.
➢ The business environment is complex, and it is difficult for entrepreneurs to
determine risk factor
The control of the business over the business environment.
1.1 Discuss the micro-environment
Control of the micro-environment is achieved by using internal control systems.
These aim to:
➢ Enable management to make sure that the objectives of the business are met.
➢ Check that the business complies with all applicable laws and regulations.
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