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TLY1 5.1 Dynamic Business Environment find the missing word

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TLY1 5.1 Dynamic Business Environment find the missing word

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Explore how internal and external forces shape strategy.

Created by

Muhammad Asif
Muhammad Asif
United Kingdom

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TLY1 5.1 Dynamic Business Environment find the missing word
 

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TLY1 5.1 Dynamic Business Environment find the missing wordOnline version

Explore how internal and external forces shape strategy.

by Muhammad Asif
1

Businesses do not exist in a vacuum ; they are shaped by a complex and ever - changing environment . This environment comprises factors that influence strategy and daily operations . Understanding these influences is crucial for survival and growth . The internal environment consists of controllable elements that a company can modify , such as people , leadership quality , , , logistics , and . , from to , create opportunities and threats that demand ongoing environmental scanning and proactive responses . helps map strengths , weaknesses , opportunities , and threats in this shifting landscape .

2

Types of Organisations and Sectors : The modern economy is a complex system of interconnected businesses and services , categorised into distinct sectors based on their primary function . The four main sectors are the , the , the , and the , each playing a role in value creation and exchange in society . The primary sector involves direct extraction of raw materials from the environment , such as farming crops , mining coal , and harvesting fish . The secondary sector turns these materials into goods through manufacturing and construction . The tertiary sector provides services like retail and banking , while the public sector funds education and health .

3

Functional Areas of a Business overview : A successful business , regardless of size or industry , has key functional areas that work together to achieve organisational goals . Each area plays a specific role and , in the digital age , is profoundly impacted by technology . The _____ department is responsible for staffing , training and development , and managing employee data . The _____ department handles financial planning , analysis , and reporting , aided by data analytics tools . _____ focuses on promoting products , using social media , online advertising , and _____ systems to engage customers . _____ covers _____ and , while _____ drives innovation with and digital mood boards .

 
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