Introduction to Business Management 1 : The Business Environment -Chapter 4

By: EasyPass  03-13-2010
Keywords: Introduction to Business Management

As we progress throughout the academic year, EasyPass will highlight some of the more important concepts from the chapters in the text book: Du Toit, GS, Erasmus, BJ & Strydom, JW. 2007. Introduction to Business Management. 7th Edition. 

The fourth chapter that we will focus on is: 

Chapter 4 – The Business Environment 

Some of the more important concepts you need to understand from this chapter are the: 

- Micro environment,

- Market environment

- and the Macro environment 

In this Blog, EasyPass would like to highlight – the market environment and in particular the competitive environment. 

A useful tool to help us understand the competitive environment of a business better is Porter’s Model. 

The diagram below which can be found at the website shows us what five factors we need to consider in order to better understand a business’s competitive environment. 
 

 

Recently it was suggested that a sixth force should be considered. For more information on this sixth force, visit . 

To learn more about the: 

- Micro environment,

- Market environment

- and the Macro environment 

and other important concepts in Chapter 4 make sure you sign up to EasyPass now at and test yourself on all the questions on Chapter 4 to make sure you understand all the key concepts. 

Why not subscribe to our free blog as well on so that you can stay up to date with all the latest news on EasyPass as well as more blogs on the different chapters from the textbook: Du Toit, GS, Erasmus, BJ & Strydom, JW. 2007. Introduction to Business Management. 7th Edition. 

Kind regards 

The EasyPass Team

Keywords: Introduction to Business Management