Introduction to Business Administration - Lectures 1 & 2 Flashcards

Flashcards covering core business definitions, internal and external business environments, PESTLE factors, and reference sources from Lectures 1 & 2 at the Kelley School of Business.

Business

The organized efforts of individuals and organizations to produce and sell goods and services that satisfy customer and stakeholder needs at a profit (or while achieving performance goals).

Political Environment

An external business environment dimension consisting of elections, trade policy, and stability.

Economic Environment

An external business environment dimension consisting of inflation, unemployment, GDP, and interest rates.

Sociocultural Environment

An external business environment dimension consisting of demographics, values, and lifestyles.

Technological Environment

An external business environment dimension consisting of automation, digital platforms, and AI.

Legal & Regulatory Environment

An external business environment dimension consisting of compliance and consumer protection.

Ecological Environment

An external business environment dimension consisting of climate, resources, and sustainability.

Global & Competitive Environment

An external business environment dimension consisting of international markets and rival firms.

Internal Business Environment Dimensions

Key internal factors of an organization including Organizational Structure, Management, Finance and Risk, Technology Information System & Innovation, Product Development, Marketing, and Human Resources.

Analysis of Internal Business Environment

A publication chapter authored by Wardhana, A. (2024) in Business Strategy & Policy in the Digital Edge 4.0 (pp. 200-227), published by Eureka Media Aksara.