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

Business Studies Grade 11 | Components of the Market Environment

Business Studies Grade 11 | Components of the Market Environment 🎬 Welcome to Ace My Exams Learning! In this Business Studies Grade 11 video, we explore The Market Environment—an essential part of your exam prep. We break down all the key stakeholders and forces that affect a business’s operations but exist outside the internal micro environment. These are concepts that regularly appear in tests, assignments, and final exams. ✅ What You Will Learn Get ready to revise and master the key external elements of the market environment, including: 1️⃣ Customers and their influence on business success 2️⃣ The role of suppliers and intermediaries 3️⃣ The impact of competitors, regulators, and unions 4️⃣ Strategic alliances and civil society pressures ✅ The Market Environment The market environment includes external stakeholders and forces that directly affect a business’s daily operations, competitiveness, and ability to satisfy customer needs. These key stakeholders are: ✅ 1️⃣ Customers or Buyers Customers are the most important part of the market environment. They influence: 1️⃣ What products a business offers 2️⃣ How products are priced 3️⃣ How products are marketed Without customers, a business cannot survive. ✅ 2️⃣ Suppliers Suppliers provide the inputs a business needs to operate. They include: 1️⃣ Manufacturers 2️⃣ Farms 3️⃣ Logistics and service providers Their reliability, quality, and pricing affect a business’s production, costs, and delivery. ✅ 3️⃣ Intermediaries or Agents These help connect producers with final consumers. Examples: 1️⃣ Wholesalers 2️⃣ Retailers 3️⃣ Sales agents 4️⃣ Distributors They promote, transport, store, and sell products—ensuring they reach customers on time. ✅ 4️⃣ Competitors Competitors offer similar goods or services. They influence: 1️⃣ Pricing strategies 2️⃣ Market share 3️⃣ Innovation and marketing tactics Staying aware of competitors helps businesses remain relevant. ✅ 5️⃣ Regulators Regulators are official bodies that enforce industry laws and ethical standards. They can: 1️⃣ Set pricing rules 2️⃣ Impose environmental and safety standards 3️⃣ Penalize non-compliance Businesses must operate within these regulations to avoid fines or damage to reputation. ✅ 6️⃣ Strategic Allies These are partnerships between businesses to boost growth and innovation. Examples: 1️⃣ A small business partners with a large company to access new markets 2️⃣ Companies share technology or knowledge These alliances build competitiveness and mutual success. ✅ 7️⃣ Unions Unions represent workers in negotiations with employers. Their goals include: 1️⃣ Improving working conditions 2️⃣ Securing better wages 3️⃣ Ensuring employee rights Unions affect workplace rules and employee morale. ✅ 8️⃣ Civil Society & NGOs These include community-based and non-governmental organizations. They promote: 1️⃣ Ethical business behavior 2️⃣ Social and environmental standards 3️⃣ Responsible corporate actions Partnering with civil society groups can improve business reputation, while ignoring them may harm sustainability. 📚 For more learning resources and past papers, visit: www.acemyexams.co.za 💬 Drop a comment below – What Chapter or Topic would you like us to create a video for next? 👇 Don’t forget to LIKE ✅, SHARE 🔄, and SUBSCRIBE 🔔 for more study guides and exam revision!