COMMERCE 1B03 Lecture Notes - Lecture 11: Trinidad And Tobago Football Association, Starbucks
8 Jun 2016
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Document Summary
Chapter 15: environment, strategy, and technology (ignore technology) Internal environment: events and conditions inside the organization. External environment: events and conditions surrounding an organization that influence its activities. Open systems: systems that take inputs from the external environment, transform some of them, and send some of them back into the environment as outputs. Interest groups: parties or organizations other than direct competitors that have some vested interest in how an organization is managed. Resource dependence: the dependency of organizations in environmental inputs, such as capital, raw materials, and human resources as well as outputs such as customers. Environmental uncertainty: a condition that exists when the external environment is vague, difficult to diagnose, and unpredictable. Strategy: the process by which top executives seek to cope with the constraints and opportunities that an organization s environment poses. It is the perceived environment that comprises the basis for strategy formulation. Strategy formulation itself involves determining the mission, goals, and objectives of the organization.
