MGMT 1 Lecture Notes - Lecture 3: Exponential Growth, Resource Depletion, Outsourcing

• School: UC-Irvine
• Department: Management
• Course: MGMT 1
• Professor: Thomas Eppel

Document Summary

Stakeholders - every person or organizaion impacted by or part of the business world (customers, employees, residents, government) Advances in technology have oten led to leaps in producivity (industrial revoluion) Most recent changes: it, internet, mobile devices, social media. Eiciency: achieving your goal with least amount of resources. Producivity: amount of output per unit of input (can lead to increases in unemployment) E-commerce: buying and selling goods online (b2c - business to consumer [amazon], b2b - business to business) Customers want high quality products at low/reasonable prices. To succeed in a highly compeiive environment, businesses must listen to and saisfy customers. Empowerment of employees is on strategy to do so. Demography: staisical study of populaion characterisics (gender, race, income) Managing diversity on a variety of dimensions (gender, race, etc. ) Increased number of older ciizens (new markets; pressure on social security) Outsourcing services (to india) and ofshoring manufacturing (to china) Businesses and you need to by globally compeiive.