Elements of Small Business Environment Essay examples

1528 Words Jun 2nd, 2013 7 Pages
THE ELEMENT OF THE SMALL BUSINESS ENVIRONMENT
Entrepreneurship Individual Assignment
THE ELEMENT OF THE SMALL BUSINESS ENVIRONMENT
Entrepreneurship Individual Assignment
NGUYEN THAI HA B0074 - BA505
ETR401 | LECTURER: MR. NGHIAHT
NGUYEN THAI HA B0074 - BA505
ETR401 | LECTURER: MR. NGHIAHT

CONTENTS
I. INTRODUCTION of ENVIRONMENT
II. INTERNAL ENVIRONMENT
III. EXTERNAL ENVIRONMENT
1. Task Environment
2. General Environment
IV. CONCLUSION
V. PREFERENCES

I. INTRODUCTION
In order to start up or become effective, each new and current companies have to use a number of elements within the environment to gauge the path by which they ought to steer. So what is
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For examples:
* Publics group “can have an actual or potential interest in or impact on an organization’s ability to achieve its objectives”. Publics can be:
* Media publics: carry news, features, and editorial opinion
* Local publics: neighborhood residents and community organizations.

* Customers: Company must study its customer markets closely since each market has its own special characteristics. Customers can be B2C, B2B or B2G
* Suppliers: Provide the resources or input needed for the business to produce goods and services that play key roles in “value delivery system” for customers.
Suppliers can leave huge impact on business due to supply shortage or the bargaining power of suppliers
* Competitors: A company has to face with wide range of competitors and secures its strategic competitive advantages over competitors by technologies or selling point of the products or wipes out the marketplace.
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Walmart case will serve as an example. “Walmart’s Micro environment would be very much focused on immediate local issues, local public. It would consider how to recruit, retain and extend products and services to customers. Walmart should pay close attention to the actions and reactions of direct competitors: local markets, etc. Walmart would build and nurture close relationships with key suppliers for pricing factors and time of delivery.”
b. Porter five…

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