Business -Micro Envionment
INTRODUCTION:
The micro Environment
The micro environment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets and publics. The business can take control over all challenges and influences in the micro environment.
BODY:
1.1.1)Vision
The vision of the business is what the business aims to achieve. It sets out where a business needs to go to be successful. An example of a vision could be "To be the consumers' store of choice". Or "To provide trendy yet reasonable clothing for women".
1.1.2)Mission
The mission explains reason for the business's existence. It is usually the answer to 'what we will do to make a profit?'.The mission statement will guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. 1.1.3)Strategy
This focuses on the big picture. Explains what the business wants to achieve in the long term. Explains the path of getting there.
1.1.4)Objectives
Objectives acts as guidance for a company's growth or development in a specific area. Objectives must have a deadline for achievement-a specific timeframe.
1.2)Organisational resources
These are all the means available to a business to be successful on daily basis. These resources include factors such as quality as well as the amount of money in the business. The business needs many resources. These resources are called the four factors of production. Each of these factors have its own reward or remuneration.
Resources Description Reward Capital resources Money that is invested in a business to acquire capital goods.(Eg.Land,Building and equipment.)
Interest
Human resources The work people to do to provide services and products. This work is called Labour.
Salaries and Wages
Natural resources All natural assets are used to provide products and services. These assets
The micro Environment
The micro environment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets and publics. The business can take control over all challenges and influences in the micro environment.
BODY:
1.1.1)Vision
The vision of the business is what the business aims to achieve. It sets out where a business needs to go to be successful. An example of a vision could be "To be the consumers' store of choice". Or "To provide trendy yet reasonable clothing for women".
1.1.2)Mission
The mission explains reason for the business's existence. It is usually the answer to 'what we will do to make a profit?'.The mission statement will guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. 1.1.3)Strategy
This focuses on the big picture. Explains what the business wants to achieve in the long term. Explains the path of getting there.
1.1.4)Objectives
Objectives acts as guidance for a company's growth or development in a specific area. Objectives must have a deadline for achievement-a specific timeframe.
1.2)Organisational resources
These are all the means available to a business to be successful on daily basis. These resources include factors such as quality as well as the amount of money in the business. The business needs many resources. These resources are called the four factors of production. Each of these factors have its own reward or remuneration.
Resources Description Reward Capital resources Money that is invested in a business to acquire capital goods.(Eg.Land,Building and equipment.)
Interest
Human resources The work people to do to provide services and products. This work is called Labour.
Salaries and Wages
Natural resources All natural assets are used to provide products and services. These assets