The Relationship Between Micro, Market, and Macro Environments (Grade 10 NSC Matric Business Studies): Flashcards
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Relationship of 3 business environments
Relationship of 3 business environments
Interconnected & constantly influence each other
Visual metaphor for 3 environments
Visual metaphor for 3 environments
Three overlapping circles
Macro environment definition
Macro environment definition
Big picture factors like govt policies & economic conditions
Micro environment definition
Micro environment definition
The business itself
Market environment definition
Market environment definition
Competitors, customers & suppliers
Chain reaction flow pattern
Chain reaction flow pattern
Macro → micro → market
Interest rate rise: macro change
Interest rate rise: macro change
SA Reserve Bank increases interest rates
Interest rate rise: micro impact
Interest rate rise: micro impact
Higher borrowing costs & production costs
Which environment businesses control
Which environment businesses control
Micro environment only
Macro environment factors (examples)
Macro environment factors (examples)
Economic, technological, legal/political, international