What term describes the immediate environment surrounding a business, including customers and suppliers?
Correct Answer: Micro environment
- Step 1: Understand that businesses operate in different environments.
- Step 2: Identify the two main types of environments: micro and macro.
- Step 3: Focus on the micro environment, which is the immediate area around a business.
- Step 4: Recognize that the micro environment includes customers, suppliers, and other factors that directly impact the business.
- Step 5: Conclude that the term describing this immediate environment is 'micro environment'.
No concepts available.
