Which element is considered part of a company's 'micro environment'?
Understand the Problem
This question is asking you to identify which of the listed factors is part of a company's microenvironment. The microenvironment refers to the factors that directly influence a company's operations and performance.
Answer
Elements of a company's micro environment include customers, competitors, suppliers and stakeholders.
A company's micro environment consists of elements such as customers, competitors, suppliers, intermediaries, partners, the public, and other stakeholders.
Answer for screen readers
A company's micro environment consists of elements such as customers, competitors, suppliers, intermediaries, partners, the public, and other stakeholders.
More Information
The micro environment is the set of forces close to a company that directly influence its ability to serve its customers. These forces include customers, competitors, suppliers, intermediaries, and the company itself.
Tips
It's easy to confuse the micro and macro environments. The micro environment includes elements that directly affect a company on a regular basis, while the macro environment includes larger, societal forces.
Sources
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