Question

What do you understand by company’s microenvironment?
1. A company’s departments, suppliers and other publics which make up its value delivery chain and matter the most
2. A company’s operating policies and principles
3. The detailed processes needed to achieve quality control in the firm
4. The machines and tools a company uses to make and promote the products

Answer 1

Correct Answer - Option 1 : A company’s departments, suppliers and other publics which make up its value delivery chain and matter the most

The microenvironment is comprised of factors close to the company that affect its ability to serve the company, suppliers, marketing intermediaries, competitors, public, and customers. The company is made up of components, such as management, accounting, and finance to support internal controls.