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Business M

QuestionAnswer
Macro Environment Businesses have NO control -Technology -Legal/Political -Economic -Skills and Training -Societies Attitudes
Operating Environment Businesses have SOME control -Customers -Competitors -Suppliers -Special Interest Groups
Internal Environment Businesses have ALL control -Corporate culture -Policies and Procedures -Staff -Uniforms
Stakeholders Anyone who has a significant interest or is effected by your business
Stakeholders views -Staff -Owners -Customers -Neighbours -Competitors -Suppliers -Special Interest Groups -Government
Size Classification of a business -Source of finance -Form of Ownership -Market Share -Independence of Operation -Level of Employment
Motivation for starting a small business -Desire for Independence -The Profit Motive -Meeting a Market Need
Desire for Independence When an employee opens there own business due to having difficulty coping with their boss and the rules and regulations that are set out. Example: A high school teacher wants to open her own business because she is tired of listening to students.
The Profit Motive When someone thinks they can make more money owning their own business rather than working for someone else. Example: A cleaner who realises that he gets paid $40,000 a year when he could be earning more if he opened up his own business.
Meeting a Market Need When someone comes up with a good idea for a business that no one has done before. Example: Walking along the beach than realising that there isn't an ice-cream shop nearby so you decide to open up one in order to meet the customers needs.
Mission, Goals and Strategies
Created by: chanelhaila