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Micro Environment Factors in Business Organizations

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Micro Environment Factors in Business Organizations

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Questions and Answers

What role does a company's mission play in guiding its priorities and strategies?

It guides priorities, business strategies, product market scope, and development process.

How does the composition of the board of directors influence a company's business decisions?

The board sets the direction and monitors the company's performance.

Explain the difference between closely held and widely held companies.

Closely held companies have promoters holding majority shares, while widely held companies have promoters holding minority shares.

What is the significance of internal power relationships between the board of directors and the chief executive?

It is an important factor influencing decision-making and the company's operations. Signup and view all the answers

How does a company's image and brand equity affect various aspects of its operations?

It plays a significant role in raising finance, forming alliances, choosing suppliers, and entering foreign markets. Signup and view all the answers

What is micro environment?

Micro environment refers to internal and external factors that directly influence the working and performance of a business organization. Signup and view all the answers

How can internal factors be classified in micro environment?

Internal factors in micro environment refer to all the factors existing within a business firm that are controllable by the enterprise. Signup and view all the answers

What does strength mean in the context of internal factors?

Strength is an inherent capability of an enterprise that can be used to gain strategic advantage over competitors. Signup and view all the answers

How are weaknesses defined in the context of internal factors?

Weaknesses are inherent limitations or constraints of an enterprise that create a strategic disadvantage. Signup and view all the answers

What control does an enterprise have over internal factors?

An enterprise has control over internal factors and can modify or alter them to suit changes in the environment. Signup and view all the answers