BIZ202 The Business Environment

Task: a) Identify and apply appropriate frameworks and tools to the problems and challenges faced by organisationsb) Research and relate industry specific factors to the organisation decision-makingc) Apply a relevant framework(s) to evaluate the macro and micro environmental influences on an organisation Businesses in the modern marketplace cannot afford to ignore the environments in which they operate. To navigate this vast and ever-changing landscape, businesses must keep a keen eye on micro environmental factors that influence them. The environmental scan report is an effort to identify these factors and propose solutions to the risks they pose.Linkages between Part A and Part B:Part A serves to report on the micro environmental factors that affect your chosen business. It provides a comprehensive assessment of the challenges and risks posed to the business by its micro environment and proposes strategies to counter them. Part B will focus on the macro environmental factors that affect your chosen business. 1. Identification and analysis of micro environmental factors- under this section, the report is expected to identify all micro-environmental factors, provide insight and analysis thoroughly the wider micro environment of the chosen business.2. Challenges and solutions: the report expected to identify the key challenges and risks present in the micro environment of the chosen business and provides a correct strategy/solution to deal with each, as well as a thorough explanation and justification of each strategy.