Business Environments- micro, market and macro
Complete the following activities in your exercise books- answers will be discussed in class.
Choose the correct answer. Only write the letter of the answer you select (micro environment).
1.1 The 'dream' of the business is known as the:
A mission
B vision
C goals
D objectives.
1.2 The 'personality' of the business is known as the:
A organisational resources
B organisational structure
C organisational culture
D functions of management.
1.3 Organisational resources include:
A mission, vision, goals and objectives
B financial, human, information and technological and owners
C human, information and technological, financial and human resources
D product, price, place and promotion.
1.4 The business has full control over the components of the .... environment:
A market
B macro
C external
D micro
1.5 The basic tasks of management are:
A production, organisation, marketing and administration
B motivation, communication, delegation and activating
C leading, communicating, organising and control
D control, organising, leading and planning.
1.6 The level of management involved in medium-term tactical decision-making is:
A top-level management
B middle-level management
C lower-level management
D employees.
1.7 Who is responsible for the selection of a suitable sales manager of a large company? A Chief Executive Officer B Managing Director C Human Resource Manager D Marketing Manager.
1.8 An example of a manager operating on the top-level of management is the:
A Chief Executive Officer
B Marketing Manager
C Human Resource Manager
D Supervisor.
1.9 An example of 'own funds' in the business is:
A personal savings
B retained profits
C selling of assets
D all of the above.
1.10 The Act that protects consumers from unfair discrimination when credit is granted is the:
A EEA (Employment Equity Act 55 of 1998)
B CPA (Consumer Protection Act 68 of 2008)
C NCA (National Credit Act 34 0f 2005)
D OHSA (Occupational Health and Safety Act 85 of 1993).
Indicate whether the following statements are TRUE or FALSE. Choose the answer and write only 'true' or 'false' next to the question number (micro environment).
2.1 Physical resources in a business include assets.
2.2 Capital, own and borrowed, are information and technological resources.
2.3 A positive organisational structure helps staff to be motivated and productive.
2.4 An organogram of the levels of management may include their tasks, level of authority and responsibility.
2.5 The task of organising involves giving guidance and motivation to employees.
2.6 Top-level managers turn tactical decisions into action.
2.7 Foremen in the production department function on the lower-level of management.
2.8 Lower-level managers monitor activities in all business departments.
2.9 When managers plan, they need to ask themselves questions such as suggested by the 5W1H technique.
2.10 A factor management needs to keep in mind when considering the amount of working capital needed is the size of the business.
Write down one word or term for the following (the market environment):
3.1 The regulator for standards in South Africa
3.2 All the groups that have an interest on an organisation's ability to achieve its objectives
3.3 All the businesses that play a role in distributing and promoting goods and services to customers
3.4 Businesses that provide raw materials and financing to the organisation
3.5 The business environment including consumers, competitors, intermediaries and trade unions
3.6 Intermediaries whose task it is to limit the risk of the business
3.7 A regulator testing pilots and aviation personnel regularly
3.8 A favourable possibility related to the market environment
3.9 A market related activity that can create a negative perception
3.10 Local radio and newspapers