ADMS 1000 Study Guide - Midterm Guide: Root Mean Square, Mixed Economy, Product Differentiation

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Eytan Lasry

Document Summary

Week 1 - introduction: the external context of business! 2. general environment (7 forces in general environment): 7 differential forces in the general environment! 1. economic force : acts as a strong in uence on the present and future prospects of any organization! 2. competitive force : every organization has its own set of competitors. Domestic + foreign competition has demanded an acceleration in innovation among rms in many industries! 3. technological force : plays a central role in how an organization functions,how it obtains resources and how effectively it competes! 4. labour force : diversity factors demand that organizations understand the demographic context in which they operate! 5. global force : all forces that could be embedded in general economic,political,technological, or societal factors - things are seen and presented on an international level! 6. political force : politics/leaders can affect business (international relations,fewer trade barriers) - can dictate change in how business competes, what service it offer and how it is offered!