Chapter 2 Terms

joint venture

a strategic alliance or program by two or more organizations

natural dimension

includes all elements that occur naturally on Earth, including plants, animals, rocks, and natural resources such as air, water, and climate.

internal environment

includes elements within the organization's boundaries, such as employees, management, and corporate culture

legal-political dimension

includes government regulations at the local, state, and federal levels, as well as political activities designed to influence company behavior

organizational ecosystem

includes organizations in all the sectors of the task and general environments that provide the resource and information transactions, flows, and linkages necessary for an organization to thrive

task environment

includes the sectors that conduct day-to-day transactions with the organization and directly influence its basic operations and performance

general environment

indirectly influences all organizations within an industry and includes five dimensions

consistency culture

uses an internal focus and a consistency orientation for a stable environment

big data analytics

uses powerful computer technology to search and examine massive, complex sets of data to uncover hidden patterns and correlations so managers can make better decisions

organizational environment

consisting of both task and general environments, includes all elements existing outside the boundary of the organization that have the potential to affect the organization

adaptability culture

emerges in an environment that requires fast response and high-risk decision making

involvement culture

emphasizes an internal focus on the participation of employees to adapt rapidly to changing needs from the environment

strategic issues

events or forces either inside or outside an organization that are likely to alter its ability to achieve its objectives.

achievement culture

is suited to organizations concerned with serving specific customers in the external environment, but without the intense need for flexibility and rapid change

boundary spanning

links to and coordinates the organization with key elements in the external environment

uncertainty

managers do not have sufficient information about environmental factors to understand and predict environmental needs and changes

merger

occurs when two or more organizations combine to become one

international dimension

of the external environment, which includes events originating in foreign countries, as well as new opportunities for U.S. companies in other countries

technological dimension

of the general environment includes scientific and technological advancements in a specific industry, as well as in society at large

sociocultural dimension

of the general environment represents the demographic characteristics, norms, customs, and values of the general population

competitors

organizations in the same industry or type of business that provide goods or services to the same set of customers

customers

people and organizations in the environment that acquire goods or services from the organization

suppliers

provide the raw materials the organization uses to produce its output.

interrogational partnerships

reduce boundaries and increase collaboration with other organizations

economic dimension

represents the general economic health of the country or region in which the organization operates

labor market

represents the people available for hire by the organization