ADMS 1010 Chapter Notes - Chapter 1: Monopolistic Competition, Oligopoly, Interest Rate

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: All

Document Summary

Organizations: a group of ppl with a common goal interacting with the environment. 3 types of organizations: public/ government, non profit organizations, private. Concepts of organizations: machine (more closed system, living organism (more open system, political system (power/conflict/resolution, theatre (roles/performances/drama/acts, team (collaboration/co-operation/common goal to succeed) Specific environment: (or task environment) stakeholders or parties that have direct influence on the organizations ability to obtain resources and generate outputs. General organizations: the forces that shape the specific environment of an organization. 7 forces of an organization: (letgpsc: economic forces factors such as gdp, inflation, interest rate, which determine the state of competitive environment in which a firm operates. These forces affect the outcome of the firm"s marketing activities, by determining the volume and strength of demand for the its products: gdp : total value of goods and services in a given year.