Business Environments

Front 1

List the types of business environments (3) and briefly explain

Back 1

-Macro - Business has no control

-Operating - Business has little control

-Internal - Business has a large amount of control

Front 2

List the elements of the internal environment (4) and briefly explain

Back 2

-Employees - People working for a business that are expected to be paid , trained properly and treated ethically in return for their contribution to production

-Managers

-Location

-Legal business structure

Front 3

List the elements of the operating environment (4) and briefly explain

Back 3

Customers -The people who purchase goods and services from the business.

Competitors - Other businesses or individuals who produce and sell rival or competing good or services to the ones offered by the business.

Suppliers - The businesses or individuals that supply materials and other resources that the business needs to conduct its operations .

Special interest groups - The groups of people that attempt to directly influence or persuade a business too adopt particular policies or procedures (e.g. unions).

Front 4

List the elements of the macro environment (6) and briefly explain

Back 4

Corporate social responsibility - The pressures on a business to take into account its operations in the broader welfare of the community

Global issues - The pressures that arise as a result of the business operating and competing on a global scale.

Economic conditions - The set of influences that relate to economic activity , including interest relates, wages, unemployment, exchange relates and inflation.

Political and legal influences - The laws or regulations made by parlaments and courts which affect how businesses operate and behave.

Technological issues - The issues relates to the growing use of tools, techniques or systems.

Social attitudes - The factors related to the changes in the attitudes, behaviour, tastes and lifestyles or communities on a local, national and international scale.