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GMS 200 (566)
Chapter 4

Chapter 4

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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

GMS200 Ch. 4- environment, organizational culture, and diversity - Competitive advantage: allows organization to deal with market and environmental forces better than its competitors. Ability to do things better than ones competitor - General environment: composed of cultural, economic, legal-political, and educational conditions o Economic conditions health of economy in terms of inflation, income levels, GDP, etc. o Social-cultural conditions- norms, customs, social values on human rights, trends in education o Legal-political conditions- prevailing philosophy and objectives of political party or parties running government, plus laws and government regulations o Technological conditions- development and availability of technology, including scientific advancements o Natural environment conditions- nature and conditions of the natural environment, including levels of public concern expressed through environmentalism - Specific environment: includes people and groups w whom an organization interacts - Stakeholders: are the persons, groups, and institutions directly affected by an organizations performance - Task environmentspecific environment and the stakeholders are distinct for each organization - Value creation: extent to which organization is creating value for, and satisfying needs of, important constituencies (Wal-mart manages value creation chain well manage costs at both input and throughput stages, able to offer products at a price and quality that appeal to customers) - Environmental uncertainty: lack of complete information about the environment (rate of change in environment, complexity of environment [# of different factors] - External customers: purchase goods produced or utilize the services provided - Internal customers: found within the organization. Individuals and groups who use or otherwise depend on one anothers work in order to do their own jobs as well - Customers drive competitive advantage o Looking for: high quality o Reasonable price o On-time delivery o Excellent service - Always protect reputation for quality products, always treat customers well - Customer relationship management (CRM): strategically tries to build lasting relationships with, and add value for, customers - Supply chain management (SCM): strategically links all operations dealing with resource supplies. Includes use of IT to improve purchasing, manufacturing, transportation, and distribution. Goal of SCM achieve efficiency in all aspects 1 www.notesolution.com
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