Business Studies Grade 11 | Components of the Micro Environment скачать в хорошем качестве

Business Studies Grade 11 | Components of the Micro Environment

Business Studies Grade 11 | Components of the Micro Environment 🎬 Welcome to Ace My Exams Learning! In this Business Studies Grade 11 video lesson, we explore the Micro Environment — an essential part of the internal workings of any business. This topic is crucial for understanding how internal elements affect daily operations and how managers maintain control within the business. You'll revise the key components that form the micro environment and how each element contributes to business success. Let’s break it down clearly so you can ace your exams with confidence! ✅ 📘 What You Will Learn In this revision video, you’ll master: 1️⃣ The meaning of the micro environment 2️⃣ The five key components that make up the micro environment 3️⃣ Real examples to help you understand and apply your knowledge in exams Let’s jump into each part: ✅ 📌 WHAT IS THE MICRO ENVIRONMENT? The micro environment is also called the internal environment. It includes all the factors within the business that are directly controlled by management. These elements are responsible for the daily functioning and overall success of the business. It affects areas like planning, decision-making, staff performance, and customer satisfaction — and can be changed or improved through leadership and strategy. ✅ 🏢 COMPONENTS OF THE MICRO ENVIRONMENT Let’s look at the 5 main components: ✅ 1️⃣ Mission and Objectives These guide everything the business does. 🔹 The mission explains the business's purpose and reason for existing. 🔹 The objectives are measurable goals to achieve that mission. Examples of objectives include: 1️⃣ Increasing profit 2️⃣ Gaining more market share 3️⃣ Improving customer satisfaction Together, they provide a clear direction for the business and shape every strategy or decision taken. ✅ 2️⃣ Management Structure This refers to how the business is organized — who reports to whom, how communication flows, and how decisions are made. A clear structure ensures: 1️⃣ Tasks are delegated effectively 2️⃣ Departments collaborate efficiently 3️⃣ Decisions are made and implemented quickly ✅ 3️⃣ Resources Resources are everything the business needs to function and grow. They include: A️⃣ Human resources — Employees and their skills B️⃣ Financial resources — Capital, budgets, and investment C️⃣ Physical resources — Equipment, buildings, materials D️⃣ Technological resources — Software, systems, IT infrastructure If resources are well managed, the business can perform better and reach its goals faster. ✅ 4️⃣ Business Functions The eight business functions are critical internal departments that support operations: 1️⃣ General Management 2️⃣ Purchasing 3️⃣ Production 4️⃣ Marketing 5️⃣ Financial Management 6️⃣ Human Resources 7️⃣ Administration 8️⃣ Public Relations These functions are all controlled internally, meaning management can make changes to improve performance. They must work together to support the mission and objectives. ✅ 5️⃣ Organisational Culture Culture is the shared values, beliefs, and behaviors within the business. It influences how staff interact and how the business responds to situations. A strong culture means: 1️⃣ Employees feel motivated and valued 2️⃣ There’s better teamwork and cooperation 3️⃣ The business is more productive and adaptable When the culture is positive, it helps the entire micro environment function smoothly. ✅ 📌 WHY THE MICRO ENVIRONMENT MATTERS Since these factors are fully under the control of the business, they are the easiest to change and improve. Strong leadership, clear goals, well-managed teams, and a good culture can make the difference between success and failure. 📚 For more Business Studies lessons, past papers, and learning guides, visit www.acemyexams.co.za 💬 Drop a comment below! What topic would you like us to cover next? 👇 ✅ Don’t forget to LIKE, 🔄 SHARE, and 🔔 SUBSCRIBE for more study guides and exam revision lessons!