hi there my name is teacher ilona and today we are going to be learning about the three environments when we talk about business studies so stay tuned i'm going to give an overview of the three environments and all their factors [Music] right so as mentioned there are three environments three environments here the first environment is the micro environments the second environment is the macro and in the third environment is the market environment so these are the three environments that you get when it comes to business management and business studies so we're going to further go into these topics and look further in depth into them so it's important to note that the micro environment is internal when you've got the macro and the market environment they are both external so it's important to remember that the micro is internal and the macro market are both external so i'm going to draw a diagram over here where you can see all of the environments and and how they fit together so in the middle you have the micro environment you have the micro environment in the middle like that you then have the macro my apologies the market environment and then lastly you have the macro environment so there are all three environments the way i like to remember it is it looks almost like the earth where you have the core of the earth going out so the micro as you can see here it is internal it's in the middle you have then the market and then the macro and as we mentioned again i'm just going to write it internal and these are both external all right so that's all the environments and that's the diagram that's how it's depicted we're then going to move on to their factors of each environment and things to note right so we're going to start off with the micro environment with the micro environments this is the business itself as i mentioned internal so with the micro environment factors you'll look at is the vision mission and the objectives so that's the first factor you're going to consider the second factor is the organizational structure all right then the third one is the organizational culture fourth one is the organizational resources the fifth one is management and leadership and then important to note the micro environment is controllable so you're able to control the micro environment because it's internal within the business you can control the organizational structure the culture the vision and mission all right so that's the micro environment i am going to do another video where we will explain the micro environment in detail we then move on to the market environment and what do we say about market environments it's external with the market environment we look at the following factors we look at obviously the market which are the consumers all right we then look into suppliers third one we look into is intermediaries fourth one is competitors the fifth one is other organizations that's the market environment and these are the factors included within the ivanka's environment it's important to note with the mock environment you cannot control it but you can influence it so with the market environment you cannot control what happens in the market environment but you can influence it you can change your suppliers you can look at your target audience so we're going to divulge into more detail with this with further lessons and videos but that's the mock environment it's important to remember that it can be influenced but not controlled all right then lastly we are going to speak about the macro environment so with the macro environment i'm going to mention again it is external it is outside external likely market environment with the macro environment i'm then going to speak about all the factors involved within the macro environment so the first thing we're going to look at is the physical and natural resources all right we are then going to look at the economic environment i'm going to look at the social cultural and demographic environments we are then at the technological environment the legal and political environment the international and global environments trust me the institutional environment all right so there are all the environments and all of their factors i forgot to mention with the macro environment this is not influenced nor can it be controlled so the macro environment we have no control over these factors down over here so we can see the micro market and macro environments as well as the mini diagram and whether they are internal or external so stay tuned in my videos coming up we will be discussing the micro environments further discussing the market environment and then lastly discussing the macro environment and moving so on and so forth so there's an overview it might look a little bit messy there's an overview of all the three environments that are involved in business management so i'd like to thank you all so much for watching today's video i really appreciate the support if you have any questions please drop them down below i'm willing to help i don't mind if there's something you don't understand a topic you would like me to go over please let me know in the comments down below please hit that like button if you like this video please consider subscribing my to my channel as we'll be providing business management lessons extra lessons diving into topics and further all into business management as this is my specialization and also my dear passion so thank you so much for watching this video today i hope you guys found it impactful and it assisted you guys and i hope you guys have an awesome week further and i can't wait to see you all in my next video bye for now [Music]