Business Studies Grade 11 Notes Components Of The Micro, Market & Macro Environments

The business mission and objectives,
its management structure,
its resources and its culture are primarily controlled by the enterprise’s management

Customers/Buyers; are the final users of the product/services.
Suppliers; include factories/providers of goods/services that businesses would obtain/buy from in order to operate their businesses.
Intermediaries/Agents; who help to promote, sell and distribute products to consumers.
Competitors; which sell the same/similar products/services may have a greater impact on the market of the business.
A regulator ; is a person/organisation with official power to control an activity and make sure that it is done in a satisfactory way/make rules by which enterprises in the different industries must abide.
Strategic allies; refer to two or more businesses that work together to allow them to obtain the expertise they lack from another business.
Unions; are the employee organisations that aim to improve working conditions of the labour force.