At the end of the lesson; you should be able to answer the following: Define/Explain/Discuss/Describe ways in which businesses can adapt to challenges of the micro, market and macro environment. Give practical examples of mergers, takeovers, acquisitions and alliances, suggest ways in which business can have a direct influence on the environment. Recommend projects that can be undertaken by businesses as part of social responsibility and explain the benefits of these projects for businesses. Define the term lobbying, and discuss/explain the reasons why businesses lobby. Explain/Discuss/Describe the following types of lobbying: hedging against inflation, bargaining sessions between management and unions, and influencing supervisory body/regulators. Explain the meaning and the importance of networking. Give practical examples of networking. Discuss/Explain/Describe the advantages of networking. Define the meaning of power relationships. Discuss/Explain/Describe ways businesses can form power relationships. Identify lobbying, networking and power relationships from given scenarios/case studies/statements.