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The Micro environment (Has 3 sets of Variables (The business’s vision,…
The Micro environment
Has 3 sets of Variables
The business’s vision, mission, strategies and objectives
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Resources include
Tangible eg. property, machines
Intangible eg. brand name, patents, trademarks, experience
Organisational capabilities which refer to the ability to combine resources, people and processes
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A Mission Statement
Is the reason why an organisation is in business and is used to distinguish one business from other similar firms
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Resources of a business can be at risk from threats or they can benefit from opportunities presented by external environmental variables
An analysis of these variables will lead to the identification of the organisation’s strengths and weaknesses.
(SWOT)
These variables are instrumental in delivering the outputs of the business and are under the direct control of management
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A business should be structured in a way that it is able to deal with influences from the environment and still operate productively within the environment
The different areas of management and the way in which an organisation is structured interface with the external environment.