Ass3 - 1 Micro-environment is the specific or the task...

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1. Micro-environment is the specific or the task environment of a business which affects its working or operations directly on a regular basis. While the changes in the macro-environment affect business in the long run, the effects of changes in the micro-environment are noticed immediately. Hence, organizations must closely analyze and monitor all the elements of the micro- environment on a regular basis. The elements of micro- environment are as follows: Elements of Micro-environment A. Consumers/Customers: No organization can survive without customers and consumers. A customer is the one who buys a product or service for the consumer who ultimately consumes or uses the product or service of the organization. Hence, the consumer occupies the central position; therefore an organization must closely monitor and analyze the following: Who are the customers/consumers? What features or benefits are they looking for? What are their income levels? What are their tastes, preferences? What are their buying patterns, etc? B. Organisation: An organization refers to a group of all individuals working in different capacities and the practices and culture they follow. In micro-environment analysis, nothing is as important as self-analysis, which is done by the organization itself. Understanding one's own strengths and weaknesses in a particular business is of vital importance. Organisations consist of specific groups of people who are likely to influence an organization, which are as follows: Owners-Proprietor, partners, shareholders, etc., who invest resources and also make major
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  • Fall '08
  • TAUB
  • Marketing, Natural environment, business owner, regular basis

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