Business Studies Term One

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Notes: The Micro Environment

The micro environment is the immediate small scale environment in the business. This includes all internal factors in which staff member work.

Your micro environment consists of the business':

Vision: the expectations of what the business can achieve in terms of it's purpose.

Mission: the reason why the business exists and it's main direction.

Mission Statement: business mission statement is the business' mission on paper

Objectives: specific defined outcomes the business strives towards.

Organisational culture: the personality of the business that is made up of the business' beliefs, values, norms and expectations.

Goals: the end result the business would like to achieve.

Resources: Capital, Human, Natural, Physical (Labour), Techonology, Entrepreneurial

Leadership Style: Autocratic, Democratic, Laissez-Faire

Business Functions: Finance, Administration, Marketing, Public Relation, Production, Purchasing, General Management, Human Resources

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Notes: Business Functions