ADMS 3930 Lecture Notes - Lecture 2: Strategic Management

• School: York University
• Department: Administrative Studies
• Course: ADMS 3930
• Professor: Randy Hoffman

Document Summary

Module 1: the nature of a(cid:374) orga(cid:374)izatio(cid:374)"s e(cid:374)(cid:448)iro(cid:374)(cid:373)e(cid:374)t. A successful organization must be aware of their environment and the exchange of resources need to be done in a way for the organization to meet its goals. The orga(cid:374)izatio(cid:374) (cid:272)a(cid:374)"t (cid:373)o(cid:374)itor/i(cid:374)tera(cid:272)t (cid:449)ith the entire external environment; only engages with a small part that it has more frequent interactions with. Social and cultural values: specific factors: An exchange of resources including tangible ones (raw materials, money etc. ) and intangible resources (info. , societal value etc. ) General factors involve an exchange of info. with organizations and flow into the organization e. g. social and cultural values influence hr policies. Some factors directly affect the organization directly and others interact with the other factors and indirectly affect the organization; both can affect the performance. Requires the organization to structure its internal resources and adjust to have profitable resource exchanges with external environmental factors. Have to have good info. about direct and indirect factors.