The Busines Environment

Internal Environmet

Vision

Subtopic

Mission Statement

Reason for the business's existence

Objectives

Set of goals business wants to achieve

Direct influence on fortunes of a business

External Environment

What is its function

Where the buyer and seller meet.

Has full control and influence over this market

Buyer has the demand and has the means to pay for it

Consumer Market

Aimed at large groups of individuals

Examples of these products

Durable products e.g Cars

Semi-durable e.g Food

Services e.g Communcation

Suplpliers

Supplies raw materials to business

Intermediaries

Bridges the gap between the manufactures and the consumer.

Competitors

Determines how much of a profit is sold and at what price.

How Competitors functions

Competitors leads to higher productivity

Competitors ofers the same or similiar price as your business

Assessing Competitors

Possibility of new entrants

Bargaining power of clients and consumers

Bargaining power of suppliers

Availibility or non-availibility of substitute products

Number of existing competitors