BUSSPP 0020 Chapter Notes - Chapter 2: Models 1, Data Mining, Capital Market
3 Oct 2017
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Chapter 2: markets as the interface between the firm and its environment. Teaser: chapter 2 examines the effects of transactions, markets, competitors, and regulatory mechanisms on prices. Organization and environments: distinguish organizations from their environments. Firms are social inventions with boundaries, goals, deliberately structured sets of tasks, a legal existence, identity, rights and responsibilities, and some level of concern with the creation of wealth. For- profit firms may be either privately held or public: b. firm"s environment. All are complex to some degree, which that complexity has probably increased over the past decade or two, and that it is likely to continue to do so. Open systems hypothesis firms have continuous interaction with their environment: b. Each individual in the firm has some role in managing in these complex environments: these roles vary across individuals. Variation occurs in terms of the specific deliberately structured tasks assigned to each person, the responsibilities & authority built into each position.
