M1 Chapter 3 (Managing the Organizational Environment)

Question 1

organizational environment

Answer 1

The internal and external elements (people, organizations, forces, etc.) that affect an organization.

Question 2

general environment

Answer 2

consists of
technological, 
political, 
legal, 
economic, 
sociocultural, and 
international forces

Question 3

task environment

Answer 3

Stakeholders that are external to the organization, but interact with the organization on a very regular basis

i.e., customers, suppliers, and competitors.

Question 4

internal environment

Answer 4

Consists of the 
owners, 
management, 
employees, and 
corporate culture.

Question 5

corporate culture

Answer 5

the values and norms shared by members of the organization.

Question 6

Technology

Answer 6

consists of machinery, equipment, and tools that are developed from scientific knowledge for commercial or industrial purposes

Technology drives competition through increases in efficiency and effectiveness.

Question 7

Legal and political forces

Answer 7

External forces that influence the business environment through changes in:
government,
laws, and
regulations.

Question 8

economic forces

Answer 8

refers to the fundamental strength of local, regional, national, and global economies

Economy:
the availability of capital (money) and labor, of a region or country.

Question 9

Sociocultural forces`

Answer 9

Trends that evolve from changes in the demographics, lifestyles, and values of a society.

ie: health, more retirees, environmental concern

Question 10

International forces

Answer 10

consist of competitors, customers, suppliers, and markets around the world that influence an organization’s operations.

Question 11

stakeholder

Answer 11

a group or individual who affects and is affected by the actions of an organization

Question 12

Internal stakeholders

Answer 12

Employees and business owners

Question 13

External stakeholders

Answer 13

customers, suppliers, competitors, strategic partners, communities, governments, and special interest groups

Question 14

Employees

Answer 14

Individuals that work for an organization in exchange for financial compensation.

Question 15

owners

Answer 15

Individuals or groups that legally own all or a share of a company.

Question 16

Customers

Answer 16

Groups or individuals that purchase the organization’s goods or services.

Question 17

supplier

Answer 17

An organization that provides goods or services to other organizations.

Question 18

Competitors

Answer 18

People or organizations that compete for customers or resources.

Question 19

Direct competitors

Answer 19

Competitors that produce goods or services that are similar to those offered by others in a particular industry

Question 20

Indirect competitors

Answer 20

Compete for key resources such as employees, financing, or natural resources.

Question 21

Strategic partners

Answer 21

Organizations that form an alliance to achieve specific goals or objectives.

Question 22

Organizational culture

Answer 22

the shared values, traditions, and practices that influence the behaviors of organizational members