Business Studies: The Three Environments

Introduction

• Three main environments in business studies: Micro, Macro, Market.
• Micro Environment: Internal.
• Macro and Market Environments: External.

Overview of the Three Environments

Micro Environment

• Characteristics: Internal to the business.
• Factors:
  • Vision, Mission, Objectives
  • Organizational Structure
  • Organizational Culture
  • Organizational Resources
  • Management and Leadership
• Control: Controllable (internal within the business).
• Further Study: Detailed explanation in upcoming video.

Market Environment

• Characteristics: External.
• Factors:
  • Consumers (Market)
  • Suppliers
  • Intermediaries
  • Competitors
  • Other Organizations
• Control: Not controllable but can be influenced.
• Further Study: More detailed lessons and videos planned.

Macro Environment

• Characteristics: External and not influenced.
• Factors:
  • Physical and Natural Resources
  • Economic Environment
  • Social, Cultural, and Demographic Environments
  • Technological Environment
  • Legal and Political Environment
  • International and Global Environments
  • Institutional Environment
• Control: Cannot be controlled.

Diagram Overview

• Depiction: Micro in the center (internal), surrounded by Market, and then Macro (external).
• Analogy: Like the layers of the Earth.

Conclusion

• Overview of the three environments is presented.
• Upcoming videos will dive deeper into each environment.

Additional Information

• Open for questions and topics for further clarification.
• Encouragement to like, subscribe, and engage with future content for more detailed business management lessons.