Question : The micro environment of business includes factors that:
Option 1: Are beyond the control of the organization
Option 2: Have a direct impact on the organization's day-to-day operations
Option 3: Influence the overall economic conditions
Option 4: Determine the long-term strategic direction of the organization
Correct Answer: Have a direct impact on the organization's day-to-day operations
Solution : The correct answer is (B) Have a direct impact on the organization's day-to-day operations
The micro environment of business includes factors that have a direct impact on the organization's day-to-day operations. These factors are close to the organization and include stakeholders like customers, suppliers, competitors, and other entities that interact regularly with the organization. They are more immediate and directly controllable or influenceable by the organization compared to the broader macro environment or long-term strategic direction.
