BUS100 Chapter Notes - Chapter 2: Pest Analysis, Liquid Oxygen, Outsourcing
Document Summary
Lo-1 organizational boundaries and environments (dimensions of the external environment, pestle) External environment- everything outside an organization"s boundaries that might affect it. Multiple organizational environment- economic condition affecting the area. Economic environment- conditions of the economic system in which an organization operates. Aggregate output- measures growth of economic system; the total quantity of goods and services produces by an economic system during a give period. Business cycle- the typical pattern of short-term ups and downs in an economy (peak, recession, trough and recovery) Depression recession for two years or more consecutively. Peak the highest it gets before it turns around. This can"t be identified until it starts to go back down. Gross national product (gnp) - total goods and services produced by a national economy within a given period regardless of production location. Gross domestic product (gdp) - total goods and services produced by a national economy within a given period with domestic factors of production (within nation"s border)
