ADMN 1000H Chapter Notes - Chapter 1: Knowledge Worker, Gross Domestic Product, Scotiabank

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One of the five factors of production. Includes all workers in an organization who contribute their talents and strengths to create goods and services. How people are managed within an organization. Planned network or pattern of relationships that exists among individuals within an organization. Determines such things as division of labour, span of control, level of formalization, and how centralized decision making is. Decisions made by business managers about how the company will address political, economic, global, societal, competitive, and technological forces. The environment within which a particular organization operates, which is ultimately shaped by the general environment and includes stakeholders, customers, competitors, suppliers, and so on. Referred to as the environmental domain of organization. Any organization is surrounded by external stakeholders: individuals or groups who bear some kind of risk (suppliers, government, and society in general, these are the types of factors that potentially constitute the specific environment of an organization.

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