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Lecture

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Department
Administrative Studies
Course
ADMS 1000
Professor
Len Karakowsky
Semester
Fall

Description
Ch.1  The Challenges of Business: Managing the Internal & External Forces Sept. 17 (Session 1) How’s Business in Canada?  Canada can be thought of a good neighbour, with no fences.  U.S. expansions and relocations ending up in Canada  High quality infrastructure, open regime for foreign trade and favourable market opportunities SUMMARY: Business World Article says Canada is a great place where businesses can operate and succeed. QUESTIONS POSED: What determines a successful bus.? => What factors play the strongest role in deciding whether a bus. will prosper or fail. INTERNAL ENVIRONMENT OF BUSINESS- p. 6-9 Internal forces: • People management – criticized as poor – low wages, little investment in training. Will this eventually harm their profitability? Perhaps. • Structure – They have benefited from a highly centralized decision-making structure. That is the control and authority of the operations of Walmart is concentrated in the top level of management. This has resulted in effective control over costs and the ability to have reliable and consistent performance across different branches of Walmart. • Strategy – “big box” retailer, providing a wide range of products (from electronics to groceries) at “low everyday prices”. This successfully met consumer needs for convenience and price consciousness. 3 concepts of Internal Environment PEOPLE, STRUCTURE, STRATEGY Effectively Managing People (p.6) or slide 7-- (details in ch.3)  People are a key component of organizations recruit the right people  Any type of organization must be managed leadership as a key influence on employee satisfaction  Using a productive engagement model people can provide a competitive advantage Developing a Suitable Structure (p.8) and slide 6—(details in ch.4) A planned network of relationships between individuals in various positions of the organization Generating a Winning Business Strategy—(details in ch.5) Ch.1  The Challenges of Business: Managing the Internal & External Forces Sept. 17 (Session 1) GENERAL EXTERNAL ENVIRONMENT OF BUSINESS- 6 EXTERNAL FORCES 1) Economic Forces (p.11, 17):  An economic slump can mean downsizing, cuts in training and staff development, end of traditional work practices Ex. Recession in 1990s led to massive layoffs and downsizing of permanent members and the development of a temporary and part-time workforce.  International economic environments affect Canada’s economic health, especially the U.S.  GDP= total value of annual production (goods and services) GDP and Unemployment= indicators of economic health  Money from the product. goes to employees, business owners’ and the govern’t (through taxes) 2) Global Forces (refer to p. 25, 131)  Global forces have an international dimension Globalization: process of involving world economies  Organizations must now think globally Canada exports 40% of its GDP compared to 25% a decade ago.  Setting up business operations globally to gain competitive advantage or even having foreign ownership of Canadian companies The sale of HBC, car parts made in various 3) Political Forces (p. 16,19)  Political change can be very influential @ specific and general levels talking about deregulating industries such as telecommunications, banking, reduction of trade barriers changing political leaders Ex. Protected industries in 80s and 90s now had competition, where none existed before (Bell)  The purpose of deregulation was to bring competitors and free create a freer trade btw Canada and the U.S.  In Canada, there is a move towards less govern’t intervention Although we have Capitalist Economy, govern’t has an important role in the bus. environment *Ex. Taxes, global trade agreements, ‘incentive programs to encourage managers to conduct bus. in a desired gov’t manner+ 4)Technological Forces (p.13, 21 – slide 17)  Technology plays a central role in how an organization functions, how it obtains resources and how effectively it competes  Technology has an important influence on organizations- accessibility influences market entry and operating costs For example, in telecommunications, small business’ were able to enter the market with technological advances but operating costs had to be reduced, as a result. This led more competitors, in the case of Bell Canada, who could now afford to enter the telecommunication industry/market.  Consider how technology has influenced the role of work and how it is done. [e.g. People can work from home, shifting from the traditional inflexible office setting to telecommuting]  Resource based economy (farming,mining, forestry) because less labour due to technological advancements/mechanization now moving to the industrial (manufacturing) and service (hotel & restaurants) sectors. Ch.1  The Challenges of Business: Managing the Internal & External Forces Sept. 17 (Session 1) [E.g. Agricultural employment decreasing b/c need for hu
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