Chapter 1 Business Environments

Which 3 analysis tools may be used in the MACRO environment?

• SWOT (0&T)

• Environmental Scan

• Decision Tree

• PESTLE Analysis

Define the MACRO Environment

• The business has no control over events taking place in external environments. Develop strategies to minimise threats and capitalise on opportunities.

• Environment which the business controls and external events depend on business decisions.

The S in PESTLE analysis stands for ?

• Society

• Socio-economic factors

• Sensitivity

The Market Environment is any space where goods and services are.....

Which is not a factor of the Porters 6 force model

• Level of Rivalry (current competition)

• Threat of new entrants

• Online shopping platforms

• Availability of substitute products

• Powers of buyers, suppliers and complementary products

Which analysis tools may be used in the Market Environment?

• Environmental Scan

• SWOT (O&T)

• Resource based analysis

• Value Chain analysis

The 4 P's of marketing are ?

• Price

• Product

• Place

• Promotion