Business studies grade 12 summaries. I have achieved an A+ in all my tests using these notes. These notes are highly detailed and easy to read and understand, they are written in a logical manner and use colours and diagrams.
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No control over but must design strategies to adapt to situations in the external
environment. The business needs to eliminate any threats and capitalize on opportunities
Tools used:
Environmental Scan
O + T of SWOT
PEESTLE SO WHAT + HOW TO…
1) Environmental Scan
To identify factors that may have an impact on the business, then adjusting existing plans to
deal with these factors
2) PEESTLE ANALYSIS
SO WHAT + HOW TO…
Political Factors
Environmental Economic
Factors Factors
PESTLE
Analysi
s
Legal Factors Ethical Factors
Technoloigcal
factors Social Factors
, 2) MARKET ENVIRONMENT
Any place where goods and services are bought and sold
Tools used:
Environmental Scan
O + T of SWOT
PORTERS 6 Forces
SO WHAT + HOW TO…
1) Porters 6 Forces
The 6 Forces
SO WHAT + HOW TO…
threat of
new
competitors
impact of Rivalry with
complementary current
products competitors
PORTERS 6
FORCES
MODEL
threat of
substitute
power of buyer
products
power of suppliers
1.THREAT OF NEW COMPETITORS
Assesses how easy or difficult it will be for a new competitor to enter into the current
market based on the barriers in place. Existing businesses need to create high entry-level
barriers to the market to stop new competitors.
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