Assessment 1

BIZ202 the Business Environment

Micro environment Report

Name: ASTHA NAYAK

Student ID: A00075170
University: Torrens University
Australia
Lecturer: Abhijit Kharkar
Word count: 1170
Table of Contents
Introduction........................................................................................................................ 2

Business Insider Australia..................................................................................................3

Micro-Environment Analysis.............................................................................................3

Challenge........................................................................................................................... 4

Recommendations..............................................................................................................5

Conclusion......................................................................................................................... 6

References.......................................................................................................................... 7

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Introduction

The report will foster an evaluation on news article published by Business Insider and its
direct influence on company’s micro-environment factors. Business Insider is the local
edition of Business Insider, news website that publishes continuous real-time news,
original commentary. They also aggregates reports, and analyses top news stories across
the web. The leading news website host industry conferences like IGNITION, which
explores evolving business models of digital media. The following report will discuss
about the Tesla’s new innovation and its influence on consumers.

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Business Insider Australia

The world’s fastest growing news website, Business Insider is known for its bold
approach to business journalism. It is more than a site for financial news and board
tussles. The leading news website shares ideas on innovation, creative thinking, smart
leadership and entrepreneurship. They even focus closely on the fortunes of trailblazers
in global business. The Australian edition takes a similar approach about the business
leaders in the company from Start-ups to ASX heavyweights who are engaged in
Australian pursuit of having a go. Business Insider is the local edition of Business
Insider, news website that publishes continuous real-time news, original commentary.
They also aggregates reports, and analyses top news stories across the web. The leading
news website host industry conferences like IGNITION, which explores evolving
business models of digital media. They had recently launched BI intelligence, a research
service subscription that offers data and analysis of the mobile, payments, e-commerce,
and digital media industries. The site even publishes editorial franchises like digital 100
(Demil et al.,2018,p19)

Micro-Environment Analysis

Business Insider is known for its bold approach to business journalism. It is more than a
site for financial news and board tussles. The leading news website shares ideas on
innovation, creative thinking, smart leadership and entrepreneurship. The leading news
website had recently published about Tesla’s most awaited humanoid robot. The
company is hosting an AI day event where all updates would be offered including the
Optimus robot named after transformer. Businesses are moving at neck-breaking speeds

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to offer a tough fight to its competition. Tesla is one venture that never falls short of
experimenting. It is expected to be friendly and definitely not dystopian. Artificial
Intelligence helps businesses in using their data for better advantages and present
unusable pile of data into understandable and interpretable actions. The chosen micro-
environmental factor is consumer and its influence on Business Insider’s published
theory which has helped them generate different benefits. The umbrella of information
has helped Business Insider’s consumers in uncovering different methods of collecting,
storing and analysing data and wise fully using in business operations. The similar has
also assisted the news room in gaining consumer insights to enhance business operations
visibility (Bushe,2019,p10)The real-time deeper insights has made the news room in
making insightful actions to improve efficiency all across the organisation which will
ultimately influence their revenue streams. The more the consumer related content, the
better is the size of the community. The real-time data could also enhance their marketing
efforts for the conference they conduct that will build a solid competitive edge in the
market place. Rapidly-informed better decision making on showcasing what leads the
market will have a positive influence on almost every department, be it sales, marketing,
operations or finance, the recent change would optimise final results for Business Insider,
Australia. Consumers would collect, store and analyse data from one single news room
after the solid influence which will ultimately generate economical returns and grow
company’s market share simultaneously. Alongside, it will structure business reputation
and has been reflected through figures that rose 12% from 54$Billion.
(Cherunilam,2021,p13)

Challenge

Since the company had recently employed BI in their company operations, the following
challenges would occur:
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Data Silos with inconsistent information: Amongst the most prevalent business
intelligence issue is siloed system. The variable permission levels and security settings
makes it challenging for BI tool as data completeness is a need for successful BI. The
intended influence on corporate decision-making, BI and data management groups are
required to disintegrate silos and unify the data inside them. Many business also struggle
with lack of internal information standards across departments and business divisions.
Contradictory data in silos could lead to different versions of truth which is a dangerous
threat for Business Insider (Tobing et al., 2021, p17)

Recommendations

- Build a design development and implementation plan: Before implementing BI

tools in Business Insider, it is required for the management to design and create a
detailed strategy of they want to achieve. Trying to implement business analytics
tool without a well thought strategy could make mistakes and waste a lot of
money. Therefore, it is first needed to identify company needs and goals to meet
the needs and further involve the entire organisation in creating a strategy to allow
you to determine what you want to create.
- Find areas where BI will benefit the most: Most companies have reporting
systems perhaps they do not offer required informed information or the use is with
errors. Therefore, it is recommended to analyse the available reporting systems to
know what works well and what is not doing well and need improvement
(Cherunilam,2021,p13)

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Conclusion

The report has detailed about Business Insider’s micro environment analysis. The leading
news website shares ideas on innovation, creative thinking, smart leadership and
entrepreneurship. They even focus closely on the fortunes of trailblazers in global
business. Business Insider is the local edition of Business Insider, news website that
publishes continuous real-time news, original commentary. Tesla’s new launch of
humanoid robot has been analysed and its influence has been interpreted on consumers as
well as the business. It is determined that the collection of information will assist
Business Insider readers in locating various approaches to data collection, storage, and
analysis for effective business operations.. The similar will help the news room in gaining
consumer insights to enhance business operations visibility Businesses are moving at
neck-breaking speeds to offer a tough fight to its competition. The report has offered
insights on how company actions have a direct influence on internal and external
environment.

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References

Bushe, B. (2019). The causes and impact of business failure among small to micro and
medium enterprises in South Africa. Africa’s Public Service Delivery and
Performance Review, 7(1), 1-26.
https://journals.co.za/doi/abs/10.4102/apsdpr.v7i1.210

Cherunilam, F. (2021). Business environment. Himalaya Publishing House Pvt. Ltd.

http://dspace.vnbrims.org:13000/jspui/bitstream/123456789/4950/1/business
%20environment.pdf

Demil, B., Lecocq, X., & Warnier, V. (2018). “Business model thinking”, business
ecosystems and platforms: the new perspective on the environment of the
organization. M@ n@ gement, 21(4), 1213-1228. https://www.cairn.info/revue-
management-2018-4-page-1213.htm?ref=doi

Tobing, M., Afifuddin, S. A., Rahmanta, S. R. H., Pandiangan, S. M. T., & Muda, I.
(2019). An Analysis on the Factors Which Influence the Earnings of Micro and
Small Business: Case at Blacksmith Metal Industry. Academic Journal of
Economic Studies, 5(1), 17-23. https://www.researchgate.net/profile/Iskandar-
Muda/publication/330337820_An_Analysis_on_the_Factors_Which_Influence_the_E
arnings_of_Micro_and_Small_Business_Case_at_Blacksmith_Metal_Industry/links/
5c39a35d458515a4c71fe050/An-Analysis-on-the-Factors-Which-Influence-the-
Earnings-of-Micro-and-Small-Business-Case-at-Blacksmith-Metal-Industry.pdf