MGMT 4P90 Lecture Notes - Lecture 2: Social Capital, Horizontal Integration, Intellectual Capital
Document Summary
Environment set of external conditions and forces that have the potential to influence the organization. General environment all overall trends and events in society. Industry (competitive environment) consists of organizations that collectively compete with one another by providing similar goods/services. It is important to evaluate the general environment. Some factors can be affected by the organization while others are out of its control. Pest(el) analysis identifies important factors, how they are changing and how these factors influence industries. Political role of governments in shaping business. Social consists of factors including trends in demographics such as population size, age, and ethnic mix, as well as cultural trends such as attitudes toward obesity and activism. Technological improvements in products and services that are provided by science. Environmental involves the physical conditions within which organizations operate. Legal centers on how the courts influence business activity.