MGHB02H3 Chapter 15: Chapter 15 Notes
Document Summary
N components include: the general economy, customers, suppliers, competitors, social/political factors, and technology. N organizations that survive through selling products or services often suffer from an economic downturn and profit from an upturn. N when downturn occurs, competition for remaining customers increases, and organizations might postpone needed improvements. N merger the joining together of two organizations. N advanced information technology the generation, aggregation, storage, modification, and speedy transmission of information made possible by the advent of computers and related devices. Learning objectives checklist: organizations are open systems that take inputs from the external environment, transform some of these inputs, and send them back into the environment as outputs. The external environment includes all the events and conditions surrounding the organization that influence this process. Major components of the environment include the economy, customers, suppliers, competitors, social/political factors, and existing technologies: one key aspect of the external environment is its uncertainty.
