GMS 200 Lecture Notes - Swot Analysis, Iso 9000, Old American Company

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

Consumers are not completely rational when making purchase decisions. When you manipulate your strategy, it can help influence consumer demand. Consumers typically compromise towards the middle product, rationalize to themselves that they do not fit into either the high end or low end markets. A collection of people working together to achieve a common purpose/goal. Closed systems are self-contained, and can survive by itself without depending on any external factors. Open systems interact with the environment and need them to survive: organizations are open systems. Organizations depend on resources from the environment such as, finances, people, materials, technology, information, etc: with these inputs, you get outputs for consumers to buy. Organizations must look at the environment and accordingly adapt. Traditionally a person who plans, directs people and resources. In new organizations person who directly supports and helps activate the work efforts and performance accomplishments of others. Setting: hectic pace, interruptions, interactions, many tasks, long hours.