MGMT 1000 Chapter Notes - Chapter 2: Business Cycle, Business Process, Planned Obsolescence
8 Apr 2019
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Chapter 2: the environment of business: organizational boundaries and environments, external environment-consists of everything outside an organization that might affect it, organizational boundaries i. Organizational boundary-separates the organization from its environment: multiple organizational environments i. Examples include: economic conditions, technology, political-legal considerations, social issues, and the global environment: the economic environment, economic environment-the conditions of the economic system in which an organization b. operates. In recent years, it has been characterized by low growth, steady unemployment rates, and low inflation: during periods of rising unemployment, people are less likely to make unnecessary d. purchases and they may delay bigger purchases. In a positive economic period, momentum pushed unemployment down as consumers spend more: economic growth i. ii. Ex. the agricultural production has grown because the total output of the agricultural sector has increased with fewer people needed to produce the food. Bombardier is a canadian company, but all of the manufacturing that occurs in its foreign plants is included in.
