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