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ADMS 3900 (9)
Lois King (9)
Lecture

management2.doc

3 Pages
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Department
Administrative Studies
Course Code
ADMS 3900
Professor
Lois King

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Description
The Specific Environment The specific environment: The part of the external environment that is directly relevant to the achievement of an organizations goals. It includes those external forces that have a direct and immediate impact on manager’s decisions and actions. The main specific environments include customers, suppliers, competitors, and public pressure groups. • Public pressure group: Groups that attempt to influence the actions of organizations. Social Cultural conditions: managers must adapt their practices to the changing expectations of the societies in which they operate. As societal values, customs, and tastes change, mangers must also change. How Organizations go Global One way managers use to get into a global market without investing a lot of money is called global sourcing Global sourcing: Also called global outsourcing, refers to the purchasing of materials or labour from around the world, wherever it is cheapest. The goal of this strategy is to take advantage of lower costs in order to be more competitive. • Importing and exporting: An organization can go global by exporting its products to other countries, by making products at home and selling them abroad, or through importing which consists of selling products at home that are produced abroad. o Exporting: An approach to going global that involves making products at home and selling them abroad. o Importing: An approach to going global that involves acquiring products made abroad and selling them at home. • Licensing & franchising: some businesses use franchising or licensing in the early stages of doing international business. Both licensing and franchising involve one organization giving another the right to use its brand name, technology, or product specifications in return for a lump sum payment or fee usually based on sales. o Licensing: An approach to going global primarily used by manufacturing organizations to make or sell another company’s products where one m
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