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Questions and Answers
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?
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What is the significance of resources in the micro environment?
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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.
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Description
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!
