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Lecture #1 - The context of a business.docx

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Department
Administrative Studies
Course
ADMS 1000
Professor
All Professors
Semester
Winter

Description
September 11, 2012 The Context of Business: A Framework  What is an organization?  An organization consists of people with formally assigned roles, who work together to achieve stated goals within an identifiable boundary  What determines the ultimate success or failure of an organization? Organization  A social entity – composed of people, interacting with each other to perform essential functions.  Goal directed – exists for a purpose/goal they were designed to achieve.  Deliberately structured – characterized by formally assigned roles deliberately divided into sets of activities  Interact with the Environment – obtains input from its environment, and the organization transforms them and they become outputs (e.g. goods/services)  In an identifiable boundary – meaning itself as an entity distinct from the environment  Boundary – identity that bonds us together  A group of people that share a common goal; goal directed  Strategic plans  Programmatically begin the process of starting an organization  Doesn’t have to be a human being or social entity (in eyes of the law)  Incorporating an entity which is the organization itself  Can’t understand business if you can’t understand people (greed)  Have some kind of procedures/rules  A form of organized resistance; it’s goal directed and it exists for a purpose  Characterized by assigned roles  Idea of belonging; this creates the culture, overtime, of the organization  Actions/activities of the past create the culture  By aspiring to the motto/boundaries of the organization, you become unique within that organization  To develop an effective business strategy, every organization must understand its environment.  Three broad categories of organizations: o Public/governmental organizations that provide goods and services without necessarily generating a profit; o Private/non-governmental organizations, including voluntary organizations, that offer goods/services without generating a profit; & o Private organizations that produce goods/services with the intent of making a profit for the benefit of their owners/shareholders. The McKinsey 7-S Framework September 11, 2012  Strategy/Structure – one facilitates the other. An appropriate structure will facilitate an appropriate strategy and vice versa.  Systems – important to have immediate and constant feedback  Skills – dependent on strategy and the staff and number of staff you have  Staff – repetition and routine  Social entities are open systems and like to interact with their environment; it is necessary for survival The Internal Context of the Organization (don’t need to memorize definitions)  Strategy – a plan or a course of action leading to the allocation of the organization’s resources in reaching an identifiable goal(s)  Structure – a pattern of relationships that exist between individuals in the organization o It is characterized by the organizational chart (I.e. functional, decentralized etc.) o Reflects the formal hierarchy of authority in the organization  Systems – procedures and routinized processes controlling and coordinating behavior in the organization  Shared Values – significant meanings or guiding principles that the organization instills in the members  Skills – distinctive capabilities of key personnel  Style – characterization of how key managers behave in achieving the organization’s goals Organizations as Systems  System – interdependent elements working together to achieve a goal.  Organizations are entities that are embedded in, and dependent on exchanges with the environment they operate in.  An organization is an Open System o It must interact with the environment to survive September 11, 2012 o It must continuously interpret and act on environmental change o Deal with a certain situation on hand o Interpret the data your analyzing; interpret competition; interpret economic trends o Appropriate strategy based on appropriate interpretation on the changes and what’s happening over time (fundamental rule of success) o Past success does not ensure future success o Past success creates an ego; may blind you to new changes you haven’t observed in the past What do we mean by Environment?  We refer to the external context of the organization as the environment  The specific or task environment consists of groups that have a direct influence on the organization’s ability to obtain r
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