![]() ![]() The following non-specific elements of an organization can affect its performance: It must understand its own strengths and weaknesses, objectives and goals of the business, and resource availability. ![]() One of the most important aspects of the micro environment of an organization is the self-analysis of the organization itself. On the other hand, a five-star holiday resort and a luxury car company are Indirect competitors since they offer different products but vie for the same market. This is Direct Competition.įor example, Pantene and Sunsilk shampoo companies are direct competitors. When organizations are involved in the same business activity, they compete for both resources and markets. A business must be aware of its competitors, their strengths and weaknesses, and the most aggressive and powerful competitors at all times.įurther, an organization can have direct or indirect competitors. Hence, it is important that an organization is aware of its competitors and in a position to analyze threats from its competition. Competitors are other organizations that compete with each other for both resources and markets. CompetitorsĮvery business has competition. It must monitor and track any changes in tastes and preferences of the consumer along with changes in the buying habits of the customer. In this case, the husband is the customer and the wife is the consumer.Ī successful business keeps a close watch on both customers and consumers of its products/services. A consumer, on the other hand, is the ultimate user of the product/service.įor example, a husband might purchase a product for his wife. ![]() In simple words, an organization cannot survive without customers. Let’s take a quick look at all elements of a micro environment:Ĭustomers are people who buy an organization’s products/services. ![]()
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