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ADMS 3930 (13)
Chapter 2

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Administrative Studies
ADMS 3930
Randy Hoffman

CHAPTER TWO Changing Environments External environments: all the events outside a company that have the potential to influence or affect it Environmental change: the rate at which a company’s general and specific environments change, stable (slow) and dynamic (fast) - according to the punctuated equilibrium theory, companies go through long, simple periods of stability, followed by short, complex periods of dynamic, fundamental change, finishing with a return to stability. Environmental Complexity: the number of external factors in the environment that affect organizations, simple environments have fewer factors, where as complex environments have many environmental factors Environmental munificence: the degree to which an organization’s external environment has an abundance or scarcity of critical organizational resources Uncertainty: how well managers can understand or predict the external changes and trends affecting their businesses General Environment - the economy and technological, sociocultural, and political/legal trends that indirectly affect most organizations economy: current state of a country’s economy affects most organizations; growing economy = good business, shrinking economy = bad business technology: knowledge, tools, and techniques used to transform inputs into outputs sociocultural: the demographic characteristics and general behaviour, attitudes, beliefs of people in a particular society political/legal: legislation, regulation, and court decisions that govern and regulate business behaviour Specific Environment - the customer, competitor, supplier, industry regulation, and public pressure group trends that are unique to an industry and that directly affect how a company does business customers: can be monitored in two ways: reactive customer monitoring (identifying and addressing customer trends and proble
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