Organization's Environment

Question 1

specific external organizations or groups that influence an organization

Answer 1

task environment

Question 2

broad dimensions and forces in the surroundings that create its overall context

Answer 2

general environment

Question 3

Taxes, minimum wage, regulation, court decision
* Government regulations of business and the relationship between business and government

Answer 3

political-legal dimension

Question 4

Recessions, high inflation, low interest rates
* The overall health and vitality of the economic system in which the organization operates

Answer 4

economic dimension

Question 5

• Consumer preference, lifestyles, Customs, mores, values, and demographic characteristics of the society in which the organization functions

Answer 5

sociocultural dimension

Question 6

integrated software systems (Uber app, Grab), digital
books, privacy, & security

Answer 6

technological dimension

Question 7

political unrest, natural disasters, Int’l
competition, global suppliers, int’l sales and marketing efforts
* Extent to which an organization is involved in or is affected by business in other countries

Answer 7

international/global dimension

Question 8

helps managers and analysts understand the competitive landscape that a company faces and how the company is positioned within it.

Answer 8

five forces model

Question 9

Five Forces Model made by?

Answer 9

michael porter

Question 10

Extent to which new competitors can easily enter a market

Answer 10

threat of new entrants

Question 11

The nature of competitive relationships between dominant firms in the industry

Answer 11

competitive rivalry

Question 12

Extent to which suppliers can influence potential buyers

Answer 12

power of suppliers

Question 13

Extent to which buyers in an industry can influence the suppliers

Answer 13

power of buyers

Question 14

Extent to which alternative products or services affect
the need for existing products or services

Answer 14

threat of substitute products

Question 15

Michael Porter’s Five Forces Model:
Format: top, bottom, left, right, middle

Answer 15

threat of new entrants, threat of substitute products, power of suppliers, power of buyers, competitive rivalry

Question 16

may be simple or complex; stable or dynamic in terms of rate of change which brings about unpredictable forces
affecting the organization.

Answer 16

environment of an organization

Question 17

Information management:
________ Actively monitoring the environments through activities
such as observation and reading

Answer 17

environmental scanning

Question 18

Information management:
________A strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis.

Answer 18

swot

Question 19

by altering strategy, adopting an entirely new strategy

Answer 19

strategic response

Question 20

Two or more firms combine to form a new firm

Answer 20

merger

Question 21

Firm forms a new venture with another company

Answer 21

alliance

Question 22

One firm buys another, sometimes against its will

Answer 22

acquisition

Question 23

Firm taken over ceases to exist

Answer 23

hostile takeover

Question 24

Whoever can claim property rights to an organization
* Investors, stockholders, banks, partners

Answer 24

owners

Question 25

• Governing body elected by a corporation’s stockholders and charged with overseeing the general management of the firm to ensure that it is being run in a way that best serves the stockholders’ interests
• Now has more oversight as the result of recent scandals
• At issue is corporate governance—who is responsible and accountable for the actions of the business

Answer 25

board of directors

Question 26

• Issues include location, design, and layout
• Many moving to more open environments, with small rooms for private business

Answer 26

physical work environment

Question 27

The workforce is becoming increasingly diverse:
* Age, gender, ethnicity, and other dimensions
* Workers also calling for more job ownership
* Increased reliance on temporary workers; greater flexibility provided for workers and organizations
* Labor unions add a complex layer

Answer 27

employees

Question 28

Set of values, beliefs, behaviors, customs, and attitudes that help members understand what it stands for, how it does things, and what it considers important
* It determines the feel of the organization

Answer 28

organization culture

Question 29

• Organization culture:
  Not every area of the organization has the same_______.
• ________ is a powerful force that helps shape the firm’s overall effectiveness and long-term success.

Answer 29

culture

Question 30

• Typically develops over a long period of time
• Corporate success and shared experiences shape culture

Answer 30

determinants of organization culture

Question 31

• Organizations that compete with other organizations for
  resources
• Resources include parts, supplies, labor, customers

Answer 31

competitors

Question 32

• Whoever pays money to acquire an organization’s products or services
• Critical differences in international customer base

Answer 32

customers

Question 33

• Organizations that work together with one or more other
  organizations in a joint venture or similar arrangement
• Opening stores internationally, working with local suppliers

Answer 33

strategic partners

Question 34

• Organizations that provide resources for other organizations
• Strategies might include buying from one supplier or many

Answer 34

suppliers

Question 35

A unit that has the potential to control, legislate, or otherwise influence
the organization’s policies and practices

Answer 35

regulators

Question 36

Groups organized by members to attempt to
influence business
* Safety committee, unions

Answer 36

interest groups

Question 37

• An agency created by the government to regulate business activities
• OSHA, Food and Drug Administration, EPA

Answer 37

regulatory agency