Business Environments

An increase in the VAT rate is a challenge in the ... environment.

• internal

• macro

• market

• international

If the South African rand depreciates, it is a(n) ... for exporters and a(n) ...

to importers.

• threat, opportunity

• opportunity, threat

• threat, threat

• opportunity, opportunity

A customer has a high level of power when ...

(i) the business has limited suppliers.

(ii) the business only has a few large customers.

(iii) there are a large number of substitute products in the market.

(iv) government regulates access to the market.

• (i), (ii), (iii) and (iv)

• (i) and (iii)

• (ii)

• (iv)

An advantage of environmental scanning is that ...

• requirements of the BEE scorecard can be diminished.

• staff performance appraisals are no longer required.

• the repo rate increases.

• short- and long-term strategies can be effectively formulated.

Discuss the business's control over the market environment.

Outline the challenges of the MICRO environment.

Define the term ‘LOBBYING’

Discuss ways in which businesses can adapt to challenges of the macro environment

Define Business Environments

Outline components of the market environment