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2.1 List TWO factors influencing the organisation structure of the business. \( \begin{array}{l}\text { 2.2 Read the scenario below and answer the questions that follow. } \\ \text { VBS BANK (VBS) } \\ \begin{array}{l}\text { VBS Bank is a registered financial services provider. VBS bought new and } \\ \text { advanced computers to improve service delivery. This has led to increased } \\ \text { customer base due to excellent services offered by the business. }\end{array} \\ \begin{array}{l}2.2 .1 \text { Identify ONE component of micro environment applicable to SB in } \\ \text { the scenario above. } \\ 2.2 .2 \text { Doscribe the component of micro environment identified in } \\ \text { QUESTION } 2.2 .1 \text { above. } \\ 2.3 \text { Explain the meaning of the following concepts in relation the } \\ \text { microenvironment } \\ 2.3 .1 \text { Vision } \\ 2.3 .2 \text { Mission statement } \\ 2.4 \text { Discuss the reasons why businesses need finance } \\ 2.5 \text { Advise businesses on the advantages of credit trading }\end{array}\end{array} \begin{array}{l}\text { (4) }\end{array} \)

Ask by Paul Hanson. in South Africa
Mar 17,2025

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**2.1 Factors Influencing the Organization Structure:** 1. **Business Size**: Larger companies need more complex structures to manage various departments. 2. **Industry Type**: The industry affects the structure, with tech companies having more flexible setups compared to manufacturing firms. **2.2 Scenario Analysis:** - **2.2.1 Component Identified**: Customers - **2.2.2 Description**: Customers are the individuals or organizations that use VBS Bank's services. Improved service from new computers has increased the customer base. **2.3 Concepts in Microenvironment:** - **2.3.1 Vision**: A statement of future goals that guides the business. - **2.3.2 Mission Statement**: Defines the organization's purpose and core values. **2.4 Reasons for Business Finance:** 1. **Covering Costs**: To manage daily expenses like salaries and rent. 2. **Growth Investments**: Funds for new projects and expansion. 3. **Cash Flow Management**: Ensures the business can meet its financial obligations. 4. **Innovation**: Supports research and development of new products or services. **2.5 Advantages of Credit Trading:** 1. **Increased Sales**: Attracts more customers by offering payment flexibility. 2. **Customer Loyalty**: Enhances customer relationships through flexible payment options. 3. **Cash Flow Management**: Allows businesses to sell products while managing payment schedules. 4. **Competitive Edge**: Provides a competitive advantage by catering to a broader customer base. This summary covers the key points from the original questions and answers, providing a clear and concise overview without making judgments.

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Bonus Knowledge

The evolution of organizational structure has deep historical roots, often tracing back to the industrial revolution. This period spurred the need for businesses to develop formal hierarchies to manage large labor forces, leading to the classic top-down approach we still see today. As businesses evolved, factors such as globalization and technological advancements prompted shifts towards more flexible structures, accommodating rapid changes in market demands. Understanding how to navigate organizational structure is crucial for real-world application. For example, a startup may benefit from a flat structure where team members collaborate closely, fostering innovation. Conversely, a large corporation might thrive with a hierarchical model to maintain order and efficiency. Recognizing the inherent advantages of each structure allows businesses to align their strategy effectively with their goals and resources.

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