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Chapter 4

Chapter 4 Notes

5 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Shavin Malhotra

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Chapter 4- Environment, Organizational Culture, and
Diversity
Environment and Competitive Advantage
What is Competitive Advantage?
Competitive Advantage: allows an organization to deal with market and
environmental forces better than its competitors
May achieve through things such as products, pricing, customer service, cost
efficiency, quality
Competitive advantage can only be obtained by continuously scanning the
environment for opportunities and taking effective action based on what is learned
The General Environment
General Environment: is composed of cultural, economic, legal-political, and
educational conditions
External Environment issues:
oEconomic conditions (inflation, income levels, GDP)
oSocial-cultural conditions (norms customs, social values)
oLegal-Political conditions (prevailing idea of political party in power)
oTechnological conditions
oNatural environment conditions (nature)
Stakeholders and the Specific Environment
Specific Environment: includes the people and groups with whom an organization
interacts
Stakeholders: are persons, groups, and institutions directly affected by an
organization
Specific environment or task environment and stake holders are distinct for each
organization
Can change over time
Strategic constituencies: access the current performance of organizations
Value Creation : is creating value for, and satisfying needs of, constituencies
Environmental Uncertainty
Environmental Uncertainty: is a lack of complete information about the
environment
Two dimensions to environmental uncertainty:
oComplexity of the number of different factors in the environment
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oThe rate of change in these factors
Greater environmental uncertainty, greater need for flexibility
Customer Driven Organizations
Who are the Customers?
External customers: purchase the 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 well
What Customers Want
Customers want at least 1 of four things in good sand services they buy
oHigh quality
oReasonable price
oOn-time delivery
oExcellent service
Two lessons of successful business practice:
oAlways protect your reputation for quality products
oAlways treat your customers well
Customer Relationship Management
Customer relationship management: strategically tries to build lasting
relationships with, and add value for, customers
Supply chain management: strategically links all operations dealing with
resource supplies
Goal of SCM, achieve efficiency in all aspects of the supply chain while ensuring on
time availability of quality resources for customer driven operations
Quality Driven Organizations
ISO certification : indicates conformance with a rigorous set of international
quality standards
Total Quality Management
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Description
Chapter 4- Environment, Organizational Culture, and Diversity Environment and Competitive Advantage What is Competitive Advantage? Competitive Advantage: allows an organization to deal with market and environmental forces better than its competitors May achieve through things such as products, pricing, customer service, cost efficiency, quality Competitive advantage can only be obtained by continuously scanning the environment for opportunities and taking effective action based on what is learned The General Environment General Environment : is composed of cultural, economic, legal-political, and educational conditions External Environment issues: o Economic conditions (inflation, income levels, GDP) o Social-cultural conditions (norms customs, social values) o Legal-Political conditions (prevailing idea of political party in power) o Technological conditions o Natural environment conditions (nature) Stakeholders and the Specific Environment Specific Environment : includes the people and groups with whom an organization interacts Stakeholders: are persons, groups, and institutions directly affected by an organization Specific environment or task environment and stake holders are distinct for each organization Can change over time Strategic constituencies: accessthe current performance of organizations Value Creation: is creating value for, and satisfying needs of, constituencies Environmental Uncertainty Environmental Uncertainty : is a lack of complete information about the environment Two dimensions to environmental uncertainty: o Complexity of the number of different factors in the environment www.notesolution.com
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