ADMS 1010 Lecture Notes - Lecture 2: Corporate Social Responsibility, Monopolistic Competition, Profit Maximization

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Helen Pogrin

Document Summary

1)public/governmental organizations- no profit 2) private/non-government organizations- no profit 3) The external context of business - specific or task environment- affected by changes to direct sphere or environment -general environment- changes to environment as a whole. Environment -surrounded by external stakeholders that influence organizations ability to obtain resources & generate outputs. The canadian context -economic forces in canada >gdp: total value of output; one health indicator in economy. >unemployment- increases during recessions (1991-1992), 1999 and 2005, dropped, highest level 1983, 1993. Competitive forces in canada -most of existence, focused on extraction & processing of natural resources -perfect competition: many firms, identical products, no affect on price -monopolistic competition: many small firms, slightly different -oligopoly: few firms, different products. Technological forces in canada -prices of outputs influenced by world market, affected by fluctuation in global supply & demand; highly sensitive to change -early 20th century, balance in primary sector, industrial & service -