Term 3 chapter 6

• name the 3 business environments

  • Micro environment
  • market environment
  • macro environment
• Name the 7macro environment factors

  • Political factors.
  • Economic factors.
  • Ethical issues.
  • socio economic issues.
  • technology.
  • legal factors.
  • physical environment.
• Name the 5 market elements that have an influence on an undertaking

  Competitors, new competitors, substitute goods,

  suppliers, consumers
• the business functions of the micro environment

  • Purchasing function.
  • production function.
  • financial function.
  • human capital function.
  • marketing function.
  • public relations function.
  • administration function.
  • General management function.