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The micro-environment consists of customers, partners, and competitors. [3] The most important aspect of micro-environment is the customer market. [5] There are different types of customer markets include consumer markets, business markets, government markets, globalization international markets, and reseller markets.
According to Townsend, business ecology is the study of the reciprocal relationship between business and organisms and their environments. The goal of this "business ecology" is sustainability through the complete ecological synchronization and integration of a business with the sites that it inhabits, uses, and affects. [18]
Complex business capability models often include an organizational mission, strategy and vision, document its long-term goals, objectives and constraints and even show the most important elements of its external business environment that should be taken into account during strategic planning, e.g. key competitors, strategic partners, major ...
The degree to which the internal environment of the entity matches with the external environment is expressed by the concept of strategic fit. Strengths: characteristics of the business or project that give it an advantage over others. Weaknesses: characteristics that place the business or project at a disadvantage relative to others
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
The fast changing business environment is too uncertain for us to find sustainable value in formulas of excellence or competitive advantage. Instead, scenario planning is a technique in which multiple outcomes can be developed, their implications assessed, and their likeliness of occurrence evaluated.
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. [1] It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. [2]
Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a ...