ADMS 1000 Lecture Notes - Lecture 1: Perfect Competition, Oligopoly, Monopolistic Competition

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Alex Garber

Document Summary

Defining organizations (what are some things organizations have in common?: social entities are made up of people and involve human interaction, created to achieve goals (profit or non-profit), are goal-directed. Interact with the environment - obtains inputs (sources, labour, materials) from the environment and transforms them into outputs (goods, services) Metaphors are an easy way to remember the nature of an organization and its function. Viewing an organization as an open system focuses our attention on its relation to and interaction with environ. Org. used to be closed system: focused on the internal aspect of the org. and saw it as an independent and self-sufficient entity. Environment of an org has challenges and opportunities. Org. is surrounded by specific or task environment that contains stakeholders (groups or parties) that have direct influence on org"s ability to obtain resources and produce outputs. Surrounding specific environment is general environment, forces that shape the s. e. affects ability to obtain res.