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Micro is an internal environment. The entrepreneur has absolute control over the micro environment. It includes the 8 business functions(departments) as well as the mission and vision of the business.
The market is an external environment. The entrepreneur has no control over this environment, but can influence it. The components of this environment are Trade Unions, government, consumers, suppliers, trade unions etc.
The macro environment is also an external environment. The business has no control over this environment. It is important for the entrepreneur to know what is happening in this environment because changes in the macro environment will affect the business. There are a number of challenges that are found in the macro environment. They are Global, Technological, Social, Physical, Economic, Political.etc
The market is an external environment. The entrepreneur has no control over this environment, but can influence it. The components of this environment are Trade Unions, government, consumers, suppliers, trade unions etc.
The macro environment is also an external environment. The business has no control over this environment. It is important for the entrepreneur to know what is happening in this environment because changes in the macro environment will affect the business. There are a number of challenges that are found in the macro environment. They are Global, Technological, Social, Physical, Economic, Political.etc
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answered 8 months ago
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