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Micro Environmental Factors of an Organization

   

Added on  2019-10-30

4 Pages695 Words180 Views
0Running head: MICRO ENVIRONMENTMicro EnvironmentName of the StudentName of the UniversityAuthor note

1MICRO ENVIRONMENTMicro Environmental FactorsMicro environmental factors of any organization is comprised of the elements that areunder the control of the management. These factors do not possess the capacity to influence thecompanies in any industry equally, due to the differing size, capability, strategies and capacity.The most important micro environmental factors of any business are its suppliers, distributors,competitors, customers, and partners (Belniak, 2015). Competitors: Competitive environment contains many fundamental elements that isneeded to be given importance by every organization. In no way does any company enjoymonopoly in the market. There are many forms of competition that a company faces in thebusiness world. The most common competition that the product of any company encounters isfrom the different differentiated products of other companies. Kotler (2012) has the opinion thattaking the viewpoint of the buyer is the right way for any company for grasping the completerange of its competition. Customers: As mentioned by Drucker, Hesselbein and Kuhl (2015), it is considered thatthere exists just a single definition of business purpose - creating a customer. It is the aim of allbusiness enterprises to earn profit by means of serving and fulfilling their customer demands.Nowadays, the marketing aspects of any firm starts and even ends with the customers. Today, ifa business wishes to be successful then they need to find suitable customers for their products. Suppliers: In any organization, availing of the necessary material or labor force can becarried out through their manufacturing program. This kind of a purchase policy can be adoptedby them to acquire bargaining power for the organization. Porter and Tanner (2012) says the

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