Textbook Notes (368,123)
Canada (161,661)
BUS 201 (122)
Chapter 2

BUS201 Chapter 2 Notes

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Department
Business Administration
Course
BUS 201
Professor
Peter Tingling
Semester
Fall

Description
Evolving Models in Video Distribution Netflix and BeyondExternal Environment everything outside an organizations boundaries that might affect itOrganizational Boundaries that which separates the organization from its environmentcant control environment so be productive and try to influence itEconomic Environment conditions of the economic system in which an organization operatesDimensions of the External Environment for a Business Organizationeconomic environmenttechnological environment sociocultural environmentbusiness environmentemerging challenges and opportunitiesoutsourcessocial mediaviral marketingbusiness process managementglobal business environmentpoliticallegal environmentAggregate Output total quantity of goodsservices produced by an economic system ECONOMIC GROWTH when output grows more quickly than population1 output per capita goes upquantity of goodsservices per person2 system provides relatively more of the goodsservices that people wantStandard of Living total quantity and quality of goods and services that a countrys citizens can purchase with the currency used in their economic systemBusiness Cycle pattern of shortterm ups and downs expansions and contractions in an economy4 recognizable phasespeakrecessiontroughrecoveryrecession 2 consecutive quartersdepression when trough extends 2 or more yearsGross Domestic Product GDP total value of goodsservices produced by national economy through domestic factorsmeasures all business activity within nations bordersreplaced GNPkey measure of economic growthGross National Product GNP total value of goodsservices produced by national economy regardless of where the productions are locatedex manufacturing for Canadian company occurs in foreign plants but is still included in
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