Ch.4 - The External Environment

8 Pages
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Department
Business Administration
Course Code
BUS 304
Professor
Liz Wiebe

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Description
Chapter 4 The External EnvironmentThe Environmental DomainOrganizational Environment all elements that exist outside the boundary of the organization and have the potential to affect all or part of the organizationoCan be understood by analyzing its domain The domain defines the niche and defines those external sectors the organization will interact with to accomplish its goalsDomain chosen environmental field of action the territory an organization is in regards to products services and markets servedoSectors what the environment is compiled of Task Environment type of sectoroSectors the organization interacts directly with and have a direct impact on achieving goals mostly theIndustry competitors sizeMarket customers clients potential usersRaw Materials suppliers manufacturers real estateHuman Resources labour markets training unionsInternational foreign customers regulations exchange ratesGeneral Environment type of sectoroSectors that might not have a direct impact on daily operations but indirectly influenceGovernment city state laws taxes political processSociocultural age values beliefs education religion work ethicEconomic recession unemployment rate inflation economics growthTechnology techniques of production science computers IT ecommerceFinancial stock markets banks savings and loans private investorsEnvironmental UncertaintyMunificence amount of resources available to support growthTwo ways the environment influences organizationsoNeed for information about the environment
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