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Flashcards on key vocabulary related to the Environment of Organizations.
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Environment
All elements that a business operation interacts with when producing goods and services to make a profit.
Man-made Environment
Elements developed by human beings for meaningful interactions.
Organization’s Environment
Factors, forces, and institutions beyond an organization's scope that affect it.
Totality of External Forces
The sum total of all things external to an organization.
Specific Forces
Forces affecting the day-to-day activities of an organization.
General Forces
Forces that impact all organizations.
Dynamic Nature
The characteristic of the environment that it keeps changing
Uncertainty
The characteristic of the environment that it is largely uncertain and difficult to predict.
Internal Environment
Elements within an organization that directly impact it and are generally controllable.
External Environment
Elements outside an organization that are relevant to its operations.
Direct Action Elements
Elements of the environment that directly influence an organization’s activities.
Indirect Action Elements
Elements of the external environment that affect the climate but do not directly affect the organization.
Placid Randomized Environment
Stable and unchanging environment.
Placid Cluster Environment
Stable environment where resources are concentrated in certain locations.
Disturbed Reactive Environment
Unstable environment with concentration of resources and ability to meet competitive change.
Turbulent Environment
Environment where change is rapid, and linkages between organizations are growing.
Direct Action Elements (Internal)
Forces or conditions or surroundings within the boundary of an organization.
Owners
Individuals invested in the business with property rights and claims on the organization.
Board of Directors
Governing body of the business elected by shareholders.
Management
Arranges facility of production, assembles and organizes resources to achieve goals.
Employees
Those who perform the tasks of the organization.
Organizational Culture
Collective behavior of members of an organization, including its values, visions, beliefs, and habits.
Indirect Action Elements (External)
Factors from the outside that the organization has no control over, generally political, economic, social, and technological (PEST).
Political Variables
Government laws of business, business-government relations, and the political situation of a country.
Economic Variables
Overall status of economic situations a business operates in, including inflation, interest rates, and unemployment.
Social Variables
Customs, moral values, and demographic characteristics of the society.
Technological Variables
Processes, methods, and equipment for converting resources into goods and services.
External Stakeholders
Groups or individuals that affect an organization’s activities from its external environment.
Internal Stakeholders
Groups or individuals that affect an organization’s activities from its internal environment.
Boundary Spanning
Interacting to gather and disseminate information.
Stakeholder Partnership
Pursue common goals
Entrepreneurship
The act of being an entrepreneur.
Entrepreneur
Someone who organizes, manages, and assumes the risks of organizing and operating a business or enterprise.