Business environments
How do we analyze the Market environment?
With PORTERS and O and T
Name 3 external stakeholders
Media
Customer
Supplier
Distributor
Financial institution
Political official
Broader community
How is profit determined?
Income - expence
Name the 4 criteria for a product to be successful
Satisfies needs and wants
design
competitive advantage
cost
What is CSR?
The moral obligation
To help and uplift the community
Could be with money
Or with skills, effort and time
CSR is about the relationship between the business (corporate) and society (social)
and the degree to which the business impacts on society.
Name 3 elements in the micro environment
Business functions
culture
structure
resources
policy
True or false? Public relations deals only with the image of the business towards the public
False, all stakeholders
Explain fixed and variable cost
In what phase of the product lifecycle is a DVD player (for double the points)
total decline!
Name 4 types of entrepreneurs
Techno
Social
tourism
environment
traditional
Give 4 example of an economical factor in the MACRO environment that will affect Woolworths.
interest rate
inflation
GDP growth
government budget
tax
What is the process of PR?
Research, Action, Communication, Evaluation
What is Fidelity insurance (for double the points)
cover business against theft of employee
Give a strategy and an example of extending the product life cycle of a product
let's hear it?!
Is the form of ownership, a PARTNERSHIP a separate legal entity from the owner?
No. They are one entity
Name 4 ways in which HR can improve the quality of performance in a business (for double the points)
By motivating staff
providing rewards
giving them training
supporting them in their personal lives
having control systems in place
recruiting the right staff
The main ACTIVITY of the PR activity is......?
monitoring the brand in the market place
shaping and promoting the business core values, internally and externally
Name another name for income statement and balance sheet
statement of comprehensive income
statement of financial position
Name 3 ways in which a market can be segmented
income
gender
age
geographical
lifestyle
cultural
Name 5 creative thinking tools
PESTLE
SWOT
PORTERS
brain storming
5W and H
problem reversal
Elements in the Market environment (6)
suppliers
customers
NGO
industry regulators
intermediaries
Strategic alliances
Name 5 media that can be used in PR
Newspapers, magazines, television
Publicity stunts
Sponsorship
Charity drives
Pamphlets or brochures
Public speaking
Social media
I invest R100 000. I get R10 000 in interest. What is my ROI? Is it better or worse than banks?
10 000
100 000 = 10% Better than bank
Name the 4 different types of services and goods
Consumer goods
consumer services
producer goods
producer services
From your own head, can't use help) Name 5 socio economic issues
Poverty and unemployment
HIV/Aids
Crime and violence
Illiteracy
Absent fatherhood
Teenage parenthood
Alcohol abuse
Corruption
Lack of leadership
Bad public health
Discrimination and inequality