Grade 10
Business Studies
0/6 Topics completed
Environments
- 01Micro environmentThe micro environment is everything inside the business: vision, mission, objectives, structure, resources and culture. Managers can change these parts without waiting for a competitor or a new law.
- 02Market environmentThe market environment is the immediate outside world a business deals with every day: customers, suppliers, competitors and intermediaries.
- 03Macro environmentThe macro environment is the broad outside world a single business cannot control, usually grouped as PESTLE: political, economic, social, technological, legal and environmental.
- 04Business sectorsEconomic activity falls into three sectors: primary takes raw materials from nature, secondary turns them into goods, and tertiary sells a service or gets the finished good to the user.