What would you like to do?
Explain any controllable elements of the business environment that effect growth in an organization?
According to a definition on the link provided here>> http://www.quantum3.co.za/CI%20Glossary.htm#B, it clearly defines the meaning of a business environment, which is the foundation to begin with before answering the question. it defines a business environment as " encompasses all those factors that affect a company's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments" However, the definition given is very general, it does not distinguish or point out which elements are controllable and which are not. To my own understanding, controllable elements, also known as internal elements, are those which are within the organization which are eligible to controlling the operation of an organization, which includes the management, the hierarchy of the business, the personnel, the missions and visions of the organization and etc. The rest is for you to find out.
3 people found this useful
Was this answer useful?
Thanks for the feedback!
Within the area occupied by the organically-grown crops, organic practices improve their environment. Organic farmers have to be very knowledgeable about all aspects of the gr…owth of their crops, the pests which attack them, and even the mycorrhizae in the soil. Their whole intent is to produce the crop in a way which is as beneficial to the local environment as possible.
Survival of the fittest
If there is anything that is stead fast and unchanging, it is change itself. Change is inevitable, and those organizations who do not keep up with change will become unstable,… with long-term survivability in question. There are things, events, or situations that occur that affect the way a business operates, either in a positive or negative way. These things, situations, or events that occur that affect a business in either a positive or negative way are called "driving forces or environmental factors." There are two kinds of driving forces; Internal driving forces, and external driving forces. Internal driving forces are those kinds of things, situations, or events that occur inside the business, and are generally under the control of the company. Examples might be as follows · organization of machinery and equipment, · technological capacity, · organizational culture, · management systems, · financial management · employee morale. External driving forces are those kinds of things, situation, or events that occur outside of the company and are by and large beyond the control of the company. Examples of external driving forces might be, the industry itself, the economy, demographics, competition, political interference, etc. Whether they are internal or external driving forces, one thing is certain for both. Change will occur! A company must be cognizant of these changes, flexible, and willing to respond to them in an appropriate way. External driving forces can bury a business if not appropriately dealt with. The question is, how does a business know what changes are occurring so that they can deal with them in a positive way. OK, that's the next issue. In order for a business to succeed and gain the competitive edge, the business must know what changes are indeed occurring, and what changes might be coming up in the future. I guess you might call this forecasting. Thus, critical to the business is what we call "informational resources." It is the collection and analyzation of data. Some examples of critical information might include the following: Competition (what are they doing?) Customer behavior (needs, wants, and desires) Industry out look (local, national, global) Demographics (the change populations, there density, etc.) Economy (are we peaking, or moving negatively) Political movements and/or interference Social environment Technological changes General environmental changes The above are just some issues organizations must be on top of. Well it's never easy, but businesses that are successful include all of the above (and more), to develop the appropriate tactics, strategies, and best practices, to ensure successful out comes.
A business grow organically means that the company is using internal funds to expand the business, rather than purchasing another business or thru other partner-sharing …business. An example of organic growth will be increasing capital using own money. Below are some advantages of organic growth: 1. Organization strategic goals can be achieved Thru organic growth, the management team are able to guide and lead the business according and in-line with the strategic goals of the company. 2. No crashes in culture There will be no culture clashings as the company employees are all either hired from the start of the business or being transfered to the newly setup business. the culture and norms of the business will be maintained. 3. Cheaper compared to acquisitions very often when a company buys another business. they'll need to pay a premium, and that premium itself can sometimes wipe out the whole value of the acquisitions rather than increasing shareholder's value. Disadvantages of organic growth are like: 1. Longer time organic growth business needs longer time to grow as they need to start from scratch including setting up the whole business, hiring and recruiting human capital, investing in machineries, and etc. 2. Riskier The business will be bearing the whole risk by themselves.
Direction, Coordination, Creation, Implementation, and Consolidation.
Explain the element of micro-environment and macro-environment outline any two changes in the macro-environment?
explain the elements of the micro environment in brief?
nature and scope of business environment
These are the elements of internal business environment: · key business drivers (e.g. market indicators, competitive advances, product attractiveness, etc.); · the organiza…tion's strengths, weaknesses, opportunities and threats; · internal stakeholders; · organization structure and culture; · assets in terms of resources (such as people, systems, processes, capital etc); . intellectual assets like patents/ process knowledge · goals and objectives and the strategies already in place to achieve them.
2.3.1) The social environment of business includes social factors like customs, traditions, values, beliefs, poverty, literacy, life expectancy rate etc. The social s…tructure and the values that a Society cherishes have a considerable influence on the functioning of business firms. For example, during festive seasons there is an increase in the demand for new clothes, sweets, fruits, flower, etc. Due to increase in literacy rate the consumers are becoming more conscious of the quality of the products.organisations are at the centre of changes taking place in the social environment therefore organisation must be aware of the culture, needs , preferences, purchasing patterns ect of consumers. Management must be fully aware of the social composition for both its consumers and its labour force in order to establish the best advantage for its customers and employees.
In order for the offer to be effective, the offeror must have the proper intent. This means that the offerer's intention must be to make an offer and not merely to start the b…argaining process. For example, if John tells Mary, "I'd like to purchase your car for $2,500. How would you like me to pay?", then there is no mistaking his intention of wanting to purchase the car at the stated price. On the other hand, if he states, "I'd like to purchase your car, how much are you willing to sell it to me for?", then he is simply attempting to start the bargaining process. The second requirement for an offer to be valid is that it must be communicated to the offeree - generally in a manner that the parties have agreed upon during the negotiation phase, if any. For example, if John had sent over a fax to Mary indicating that he is willing to purchase her car for $2,500 but does not follow up with her to confirm that she has received the fax, then no effective offer exists until Mary has looked at the fax. The third requirement for an offer to be effective is that the offer must be definite. In essence, the terms of the offer must be definite. For example, if John tells Mary, "I'll pay you $2,500 in cash for your car right now and I need you to sign the title over to me today. I'll meet you at your apartment at 10 AM.", then he is making a definite offer and his intention is unambiguous. On the other hand, if he were to say "I would like to purchase your car at a fair price, in the near future", then he is being ambiguous and his offer is not effective since there is no mutual agreement as to what a 'fair price' is or how the 'near future' is defined.
Product attractiveness, opportunities, organizational structure, intellectual assets, and internal stakeholders are the 5 elements of internal business environment. Anothe…r element is key business drivers such as market indicators.
as this quetions is related to budh«gets, I will start by explaining what a budgets is and then the importance of controlling it. A budget is a Plan which show how much money… will be needed by a business and how that money will be used during a certain period. A budgetary control is process of comapring the actual expenditure with the budget amount for a certain periods. the diferences between them are called discrepancy or varinaces. Each department within a business is a llocated a budget and the concerned manager may possibly be held reponsible for any discrepancy on the budget. the discrepancy can be favourable or unfavourable but to ascertain wheter the discrepancy is favourable or not others aspects need to be taken into consideration. Budgetary control is importante in the sense that it allows to make sure that
what is micro & macro environment means(according to business studies)
Briefly describe any FIVE (5) changes in the social environment that can affect the operation of an organisation. Briefly describe any FIVE (5) changes in the socia…l environment that can affect the operation of an organisation.
There are more than four elements of the international business environment. Some of them are economic development, monetary and fiscal policies, the legal environment, an…d cultural concerns. Others include the political environment, and ecological issues.
Critical elements in business environment are key business drivers, strengths, weaknesses and oppertunities of an organisation and internation stakeholders.