COMM 103 Lecture Notes - Lecture 1: Outsourcing, Free-Trade Area, World Trade Organization
1 Mar 2017
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Document Summary
How a business operates can initially be assessed against three fundamental characteristics: the commercial endeavours it undertakes. Commercial endeavours refer to the markets the organization serves, the products and services it offers, and the needs it professes to meet in the marketplace. It reflects the results of understanding the demand/supply relationships that exist in the marketplace at large, as well as within the customer segments it chooses to pursue. It also, as part of its ongoing assessment process, recognizes the capacities and capabilities of competitors within such selected markets to deliver products/services to similar buyers. Employee interaction refers to the value-creating skills an organization"s employees bring to the marketplace. The success of many businesses lies with the specialized skills that exist within its labour force. Organizational efficiency and structure is a reflection of the complexities of the business activities that circulate within an organization.
