ch 2
1. Achievement Orientation
A cultural value emphasizing personal success through demonstrating competence based on individual accomplishments.
2. Artificial Intelligence (AI)
The use of machines or software to mimic human intelligence, enabling decision-making, problem-solving, and learning.
3. B2B Marketplaces
Online platforms where businesses sell products or services to other businesses.
4. Barriers to Entry
Obstacles that make it difficult for new firms to enter an industry, such as high startup costs, regulations, or brand loyalty.
5. Brand Loyalty
Customers’ commitment to repeatedly buy a particular brand over competitors.
6. Business-to-Business (B2B) Commerce
Transactions between businesses, such as a manufacturer and a wholesaler.
7. Business-to-Customer (B2C) Commerce
Transactions between businesses and individual consumers.
8. Certainty
A condition in which all necessary information is known and predictable.
9. Collectivism
A cultural orientation where group goals and well-being take priority over individual desires.
10. Community Economic Development
Efforts by communities to strengthen local economies through sustainable and inclusive growth.
11. Competitive Advantage
A condition that allows an organization to outperform competitors by being more efficient, innovative, or customer-focused.
12. Competitors
Organizations that offer similar products or services and vie for the same customers.
13. Creating Shared Value (CSV)
A management approach where companies generate economic value in a way that also produces value for society.
14. Customers
Individuals or organizations that purchase products or services from a business.
15. Demographic Forces
Changes in characteristics of the population, such as age, gender, or ethnicity, that affect business strategies.
16. Deregulation
Reduction or elimination of government rules to encourage more competition or efficiency in markets.
17. Distributors
Intermediaries that help move products from producers to customers.
18. Diversity, Equity, and Inclusion (DEI) Goals
Organizational initiatives to ensure diverse representation, fair treatment, and inclusive environments.
19. Ecommerce
Buying and selling of goods or services via the internet.
20. Economic Forces
Factors such as inflation, unemployment, interest rates, and economic growth that impact organizational operations.
21. Economies of Scale
Cost advantages that a business obtains due to expansion, leading to a lower cost per unit.
22. Environmental Change
The degree and speed of change in external forces affecting organizations.
23. Environmental, Social, and Governance (ESG) Goals
Corporate objectives focused on sustainable practices, ethical behavior, and responsible governance.
24. External Environment
Forces and conditions outside the organization that impact a manager's ability to acquire and use resources.
25. Free-Trade Doctrine
The idea that countries should remove barriers to trade to allow goods and services to flow freely.
26. General Environment
Includes broad forces like political, economic, sociocultural, technological, and global trends that affect organizations indirectly.
27. Global Forces
Worldwide developments and trends that influence business operations, such as globalization and international trade.
28. Global Organizations
Companies that operate in multiple countries with integrated international strategies.
29. Globalization
The process of integrating and connecting economic, political, and social systems across nations.
30. Government Regulations
Rules set by governments to control or guide business practices.
31. Individualism
A cultural value that emphasizes individual goals and personal independence.
32. Industry-Specific or Task Environment
Forces such as suppliers, customers, and competitors that affect a manager’s ability to operate daily.
33. Innovation
The process of developing new products, services, or processes to gain a competitive edge.
34. Internal Environment
The elements within an organization—strategy, structure, culture, people, and systems—that influence performance.
35. Long-Term Orientation
A cultural trait emphasizing future rewards, such as perseverance and thrift.
36. National Culture
The set of shared values, beliefs, and norms that shape behavior in a country.
37. Nurturing Orientation
A cultural value emphasizing relationships, quality of life, and the welfare of others.
38. Organizational Environment
The forces and conditions—internal and external—that affect an organization’s ability to function effectively.
39. Outsourcing
Contracting out work or services to third parties, often in different countries, to cut costs or improve efficiency.
40. Political Forces
Government actions, policies, and political stability that affect business operations.
41. Potential Competitors
Firms that are not currently in the industry but could enter and become rivals.
42. Power Distance
The degree to which less powerful members of a society accept that power is distributed unequally.
43. Privatization
The transfer of ownership from government to private entities.
44. Protectionism
Economic policy of restricting imports through tariffs or quotas to protect domestic industries.
45. Short-Term Orientation
A cultural value focused on the present or immediate future rather than long-term outcomes.
46. Social Structure
The organized patterns of relationships and institutions that form a society.
47. Sociocultural Forces
Cultural and social factors—such as norms, values, and lifestyles—that influence an organization.
48. Stakeholders
All parties affected by an organization’s actions, including employees, customers, suppliers, and the community.
49. Strategic Foresight
The ability to anticipate and prepare for future changes and trends in the environment.
50. Suppliers
Companies or individuals who provide the inputs needed to produce goods and services.
51. Tariff
A tax imposed on imported goods to protect domestic industries or raise revenue.
52. Technological Forces
Advancements and innovations that affect how businesses produce, deliver, and communicate.
53. Technology
The application of scientific knowledge for practical business purposes.
54. Trade Wars
Economic conflicts between countries marked by rising tariffs and trade barriers.
55. Uncertainty
A lack of predictability in the environment; outcomes are unknown.
56. Uncertainty Avoidance
A cultural preference for structured situations and clear rules over ambiguity and risk.