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Introduction to Business Management 1 : Chapter 4 - The Business Environment -

 




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As we progress throughout the academic year, EasyPass will highlight some of the more important concepts from the chapters in the text book: Du Toit, GS, Erasmus, BJ & Strydom, JW. 2007. Introduction to Business Management. 7th Edition. 

The fourth chapter that we will focus on is: 

Chapter 4 – The Business Environment 

Some of the more important concepts you need to understand from this chapter are the: 

- Micro environment,

- Market environment

- and the Macro environment 

In this Blog, EasyPass would like to highlight – the market environment and in particular the competitive environment. 

A useful tool to help us understand the competitive environment of a business better is Porter’s Model. 

The diagram below which can be found at the website http://www.soopertutorials.com/business/strategic-management/3028-porter-fiveforces-model.html shows us what five factors we need to consider in order to better understand a business’s competitive environment. 
 

Your browser may not support display of this image. 

Recently it was suggested that a sixth force should be considered. For more information on this sixth force, visit http://findarticles.com/p/articles/mi_qa3886/is_199904/ai_n8835656/

To learn more about the: 

- Micro environment,

- Market environment

- and the Macro environment 

and other important concepts in Chapter 4 make sure you sign up to EasyPass now at www.easypass.co.za and test yourself on all the questions on Chapter 4 to make sure you understand all the key concepts. 

Why not subscribe to our free blog as well on http://easypass.co.za/easypass-blog-page.php so that you can stay up to date with all the latest news on EasyPass as well as more blogs on the different chapters from the textbook: Du Toit, GS, Erasmus, BJ & Strydom, JW. 2007. Introduction to Business Management. 7th Edition. 

Kind regards 

The EasyPass Team


Date Posted: 2010-03-13
Posted By: EasyPass
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