Business Studies Assessment

Which of the following is NOT a component of the micro environment?

Businesses have more control over the macro environment compared to the micro environment.

Market environment includes influences such as competition, suppliers, and strategic allies

Match the component of the macro environment with its description:
● (A) Physical/Natural environment
● (B) Economic environment
● (C) Social/Cultural/Demographic environment
● (D) Technological environment
A) Factors such as climate change and natural disasters.
B) Includes inflation rates, unemployment, and GDP.
C) Influences like population demographics and cultural trends.
D) Pertains to advancements in machinery and communication

Explain why businesses have more control over the micro environment compared to the macro environment.

What is the significance of businesses being involved in the macro environment?

The market environment includes influences such as __________, suppliers, and
strategic allies.

The macro environment refers to major external and uncontrollable factors that
influence an organization’s __________.

What is the primary control of management in the micro environment?

Match the component of the market environment with its description:
● (A) Intermediaries/Agents
● (B) Competitors
● (C) Regulator
● (D) Unions
A) Organizations aiming to improve working conditions.
B) Entities selling similar products or services.
C) Person or organization controlling an activity.
D) Entities assisting in promoting and distributing products.

What role do strategic allies play in the market environment of a business?

Explain the significance of understanding the macro environment for businesses.