5 Questions
What is the primary purpose of an organization's mission statement?
To define the organization's overall purpose and direction
What is the role of organizational culture in the micro environment?
To shape the organization's values, norms, and behaviors
What are the business functions that comprise the micro environment?
Eight business functions, which are not specified in the text
What is the relationship between an organization's vision and its goals?
The vision is the long-term aspiration, and the goals are specific, measurable targets to achieve the vision
What is the significance of resources in the micro environment?
They are essential for achieving the organization's objectives
Study Notes
Micro Environment Components
- The micro environment consists of six components.
Components of Micro Environment
- The six components are:
- Vision
- Mission
- Goals and objectives
- Organisational culture
- Organisational structure
- Resources and management
Additional Concept
- The micro environment also involves eight business functions.
This quiz covers the key components of a business environment, including vision, mission, goals, and objectives, as well as organizational culture, structure, and resources. Additionally, it touches on the eight business functions. Test your knowledge of these essential business concepts!
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