COMM 1800 - Day 2 Lecture Notes

Vocabulary flashcards covering key definitions, fundamental concepts, reasons to organize, and environment dynamics from COMM 1800 Day 2 lecture notes.

Multiple Systems Theory

A concept related to interconnectedness within organizations and their surrounding systems.

Business (Societal Definition)

An organization that uses funds and resources to create a good or service that benefits society in some way.

Business (Profit Definition)

An organization that provides goods and services to earn profits.

Business (Systemic Definition)

A complex and dynamic organizational system, existing in multiple environments, that creates value by strategically allocating and managing resources to meet its customers' needs and achieve organizational objectives.

Division of Labor

A reason to organize by breaking down a task into components and having experts handle each individual piece.

Durability

A result of division of labor where outcomes last longer and are higher quality.

Reliability

A result of division of labor where products are more consistent and replicatable.

Accountability

A result of division of labor where it is clear who makes mistakes so they can be fixed.

Power and Control

A reason to organize that aims to limit non-conforming behavior.

Legal Benefits

Organizational advantages concerning contracts, ownership, liability, and the independent rights granted to businesses.

Reciprocal Process

The mutual interaction where businesses are impacted by their environments (for better or worse) and also affect those environments through lobbying, influence, and other means.