ORG & MAN

Political Forces

Legal regulations, political orientations, government policies, and compliance procedures affecting firm operations.

Economic Forces

Factors pertaining to economic conditions relevant to a business.

Sociocultural Forces

Characteristics and lifestyles of people that affect firm operations.

Technological Forces

Involvement of electronic gadgets and advanced technology in business operations.

Natural Risks

Risks affecting the business environment due to climate change and global warming.

Benchmarking

Process of comparing products, services, and practices with industry leaders for improvement.

Stakeholders

Parties affected by the organization's activities.

Suppliers

Entities that provide necessary inputs for production and services.

Pressure groups

Special-interest groups that influence organizational decisions.

Investors or owners

Individuals providing financial support to a company.

Employees

Individuals working for an organization in exchange for compensation.

Environmental scanning

Process of assessing internal and external environments of a firm.

External analysis

Examination of opportunities and threats in the firm's environment.

Internal Analysis

Examination of strengths and weaknesses within a firm.

Externality

Consequences of economic activities affecting unrelated third parties.

Inflation

Increase in prices of goods and decrease in purchasing value of money.

Quotas

Restrictions limiting the number of imports or exports for a certain period.

Tariffs

Taxes imposed on specific import or export transactions.

Competitive advantage

Superior performance compared to rival organizations.

Environmental uncertainty

Lack of complete information about the firm's current and future environment.

Environmental complexity

Presence of numerous and changing factors in the environment.

Local business environment

Specific industry context that a company directly engages with.

International business environment

Business activities of companies operating in foreign markets.

Industry

Group of companies offering similar products or services.

Porter’s Five Forces Model

Framework analyzing competitive forces in an industry.

Cultural intelligence

Ability to adapt to unfamiliar cultural practices.

Monochronic cultures

Cultures that value punctuality and doing one task at a time.

Polychronic cultures

Cultures characterized by flexibility in managing time.

Power distance

Societal acceptance or rejection of unequal power distribution.

Uncertainty avoidance

Society's discomfort with risk and change.

Individualism-collectivism

Emphasis on individual versus collective achievements.

Masculinity-Femininity

Societal values on assertiveness versus relationship care.

Time orientation

Emphasis on short-term versus long-term thinking.

Bayanihan

Filipino spirit of communal cooperation without expectation of remuneration.

Damayan system

Community sympathy extended to bereaved families.

Familism

Value placed on close family relations and support.

Fun-loving trait

Filipino ability to find joy in challenging situations.

Hospitality

Filipino trait of being generous and welcoming to guests.

Compassionate

Sympathy shown to others, even strangers, particularly in need.

Regionalism

Preference for helping one’s province mates over others.

Friendly

Sincerity, loyalty, kindness, and sociability of Filipinos.

Flexible or magaling makibagay

Ability to adapt to the norms of different groups.

Religious

Strong adherence to religious beliefs and practices.

Respect to elders

Courteous behavior towards older individuals.

Remedyo attitude

Creativity and resourcefulness in difficult situations.

Matiyaga

Tenacity and determination in Filipinos.

Utang na loob

Feeling of obligation to repay kindness received.

Bahala na attitude

Leaving outcomes to fate without further action.

Colonial complex

Preference for foreign goods over local products.

Crab mentality

Attempts to undermine the success of others.

Euphemism

Mild expressions used to replace harsh language.

Filipino time

Cultural tendency towards lateness or imprecision in time.

Gaya-gaya attitude

Imitating other cultures in behavior and appearance.

Jackpot mentality

Desire for quick wealth through luck rather than hard work.

Kapalaran values

Acceptance of fate leading to decreased initiative.

Mañana habit

Procrastination or delay of tasks.

Ningas-cogon

Initial enthusiasm that fades without completion.

Oversensitive

Easily hurt or irritated by criticism.

Lack of sportsmanship

Failure to accept defeat gracefully.

Pakikisama

Submitting to group will for social harmony.

Tsamba lang attitude

Attribute success to luck instead of effort.

Global Management

Management of businesses with international operations.

Globalization

Growing interdependence among people worldwide.

Competing by lower cost

Efforts to reduce production costs for competitive pricing.

Competing by quality

Offering unique features in products or services.

Competing by speed or flexibility

Ability to respond quickly to customer needs.

Competing by innovation

Creating new products or features to outperform competition.

Exporting

Selling locally made products to foreign markets.

Importing

Buying foreign-made products for local markets.

Licensing

Granting rights to another firm to produce or sell products.

Franchising

A licensing form granting use of brand name and methods.

Joint ventures

Pooling resources among investors to operate business.

Strategic Alliances

Cooperative agreements between firms for mutual benefit.

Sole Proprietorship

Business owned by a single individual.

Unlimited Liability

Owner's complete responsibility for business debts.

General Partnership

Partnership where all partners manage and share responsibilities.

Limited Partnership

Partnership with both active and limited liability partners.

Articles of Partnership

Contract outlining rules and agreements among partners.

Corporations

Legal entities separate from their owners, offering limited liability.

Stockholders

Individuals owning shares in a corporation.

Dividends

Payments to stockholders from corporate profits.

Speculation

Investment in stocks hoping for price increases.

Labor Unions

Organizations representing workers' interests.

Professional Associations

Groups improving working conditions for specialized fields.

Chamber of Commerce

Organizations promoting community economic growth.

Better Business Bureau

Organization monitoring business practices.

Organization

Collection of individuals working towards a common purpose.

Business organization

Collective working towards specific business goals.

Organizational culture

Shared beliefs and values guiding an organization's members.