GMS 200 Lecture : Chapter 4

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Sui Sui

Document Summary

A core competency that clearly sets an organization apart from competitors and gives it an advantage over them in the marketplace. The general environment: y economics y socio-cultural y legal-political y technological y natural environment. The specific environment includes important stakeholders such as: y customers y suppliers y competitors y regulators y. Figure 4. 1- stakeholder analysis of value creation for key constituencies of a business firm: an open-system approach. Environmental uncertainty: y complexity a number of diff factors in environment y rate of change- rate of change of the diff factors in the environment. Figure 4. 2- dimensions of uncertainty in organizational environments. External and internal (depend on others work to do their own job) customers. *high quality, low price, customer service, on-time delivery. *protect reputation for quality products; treat customers right. Figure 4. 3- the importance of external and internal customers.