Environment consists of those factors that affect a business enterprise from outside. External environment includes shareholders, competitors, customers, society, government laws and regulations, policies and technology.

• a. Internal Environment

• b. Micro Environment

• c. Macro Environment

• d. External Environment

The process of measuring or comparing one’s own products, services, and practices with those of the recognized industry leaders in order to identify areas for improvement.

• a. SWOT Analysis

• b. PESTEL Analysis

• c. Benchmarking

• d Porter’s Analysis

It is a form of business organization established for the purpose of purchasing and marketing the products of its members, i.e., shareholders, and/or procuring supplies for resale to the members, whose profits are distributed to the members (in the form of patronage dividends), not on the basis of the

members' equity.

• a. Partnership

• b. Sole Corporation

• c. Corporation

• d.Cooperative

When the preconditions for take-off are met, a society can take off. Educated individuals start inventing new processes and tools, and access to capital through financial markets and banks make it possible to produce goods and services on a larger scale.

• a. Traditional Society

• b. Preconditions for Take-Off

• c. Take-Off

• d. Drive to Maturity

It boosts economic revenue on a smaller scale, but one that’s of vital importance, directly and positively affecting the health, quality of life and purchasing

power of residents in the local community.

• a. Small Business

• b. Corporation

• c. Contracting

• d.Franchising

Is the ultimate source of many inputs such as raw materials and energy, which firms use in their productive activity? includes geographical and ecological factors such as minerals and oil reserves, water and forest resources, weather and climatic conditions are all highly significant for various business activities.

• a. Economic Environment

• b. Demographic Environment

• c. Natural Environment

• d. Ecological Environment

Form of business which has unlimited liability. Creditors may proceed not only against the assets and property of the business, but also after the personal properties of the owner. In other words, the law basically treats the business and the owner as one and the same.

• a. Partnership

• b. Sole proprietorship

• c. Sole Corporation

• d. Corporation

Is a framework or tool used to analyses and monitor the macro-environmental factors that may have a profound impact on an organization’s performance.

• a. SWOT Analysis

• b. Porter’s Analysis

• c. PESTEL Analysis

• d. Benchmarking

Are to a certain extent controllable because the firm can change or modify these factors to improve its efficiency. However, the firm may not be able to change all the factors.

• a. Micro Environment

• b. Macro Environment

• c. Internal Environment

• d. External Environment

Analysis is a framework that helps analyzing the level of competition within a certain industry. It is especially useful when starting a new business or when entering a new industry sector. According to this framework, competitiveness does not only come from competitors. Rather, the state of competition in an industry depends on five basic forces.

• a. Benchmarking

• b. PESTEL Analysis

• c. Porter’s Analysis

• d. SWOT Analysis