Understanding Business Environments: Terms and Concepts, Quizzes of Introduction to Business Management

Download Understanding Business Environments: Terms and Concepts and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 external environments DEFINITION 1 all events outside a company that have the potential to influence or affect it TERM 2 environmental change DEFINITION 2 the rate at which acompany'sgeneral and specificenvironmentschange TERM 3 stable environments DEFINITION 3 _______environments:an environment in which the rate of change is slowex: whole sale food distribution companies, baking bread, milk produciton TERM 4 dynamic environments DEFINITION 4 ______ environments:anenvironmentin which the rate of change is fastmore opportunitunittiesex: video games, cell phones TERM 5 both environments DEFINITION 5 docompany'sexperience mainly stable or dynamic environments? TERM 6 punctuated equilibrium theory DEFINITION 6 the theory thatcompaniesgo through long periods ofstability (equilibrium) followed by short periods of dynamic,fundamentalchange,and then a new equilibrium .ex: airlines TERM 7 environmental complexity DEFINITION 7 the number and the intensity of external factors in the environment that affect organization TERM 8 simple environments DEFINITION 8 -an environment with few environmental factorsex: dairy industry, food production, mining TERM 9 complex environment DEFINITION 9 an environment with many environmental factorsex: newspapers, television, video delivery TERM 10 resource scarcity DEFINITION 10 the abundance or shortage of critical organizational resources in an organization's external environmentex: LCD TV's, not enough GPS's avaiable after tsunmi hit japan factory that made them) TERM 21 customer DEFINITION 21 part of the _______ component of specific environment:two basic stategies for monitoring _____ : reactive and proactive TERM 22 customer, competitor, supplier, industry regulation, advocacy groups DEFINITION 22 what are the 5 components of specific environment: TERM 23 reactive cusomer moniroting DEFINITION 23 invloves identifying and addressing customer trends and problems after they occur-listen closty to customer complaints and respond to customer concerns TERM 24 proactive customer mointering DEFINITION 24 identifiying and addressing cusotmer's needs, trends, and issues before they occurex: total rewards cards, can track what keeps the customer coming back TERM 25 competitor DEFINITION 25 part of the _______ component of specific environment:_______: companies in the same industry that sell similar products or services to customers TERM 26 competitive analysis DEFINITION 26 part of the _______ component of specific environment:_________ __________: a process for monitoring the competition that invloves identifying compeition, anticipating their moves, and determing their strengths and weaknessesmistakes: only foucs on one or two well-known competitors, or underestimate potential competitors' capabilites TERM 27 Supplier DEFINITION 27 part of the _______ component of specific environment:_______: companies that provide material, human, financial, and information resources to other companies TERM 28 supplier dependence DEFINITION 28 part of the supplier component of specific environment:______ _____: the degree to which a compnay relies on a supplier becuase of the importance of the supplier's prodcut to the company and the difficulty of finding other sources of that product. TERM 29 buyer dependence DEFINITION 29 part of the supplier component of specific environment:4______ _____: the degree to which a supplier relies on a buyer because of the importance of that buyer to the supplier and the difficultuy of fidning other buyers for its product TERM 30 opportunisitc behavior DEFINITION 30 type of behavior:a high degree of buyer or seller dependence can lead to _______ _______:a transaction in which one party in the relationship benefits at the expense of the other. TERM 31 relationship behavior DEFINITION 31 type of behavior:the estbalishment of mutually beneficial, long-term exhcanges between buyers and suppliers TERM 32 industry regulations DEFINITION 32 ________ _______ : regulations and rules that govern the business practices and procedures of speific industries, business, and professions TERM 33 adovcacy groups DEFINITION 33 _________ _______: concerned citizens who band together to try to influence the business practices of specific industries, busienss and professions.-cannot force organizations to change their practices TERM 34 public communications DEFINITION 34 type of advocacy group tactic:-relies on voluntary participation by the news media and the advertising industry to get teh advocacy groups message out.ex: public service campaign, ads in newspaper and magazines TERM 35 media advocacy DEFINITION 35 type of advocacy group tactic:invloves framing issues as public issues, exposing questionable, exploitative, or unethical practices; and forcing media coverage by buying media time or creating controversy that is likely to receive extensive news coverage.much more agressive that public communications TERM 46 company mission DEFINITION 46 a company's purpose or reason for exisiting TERM 47 Seen, Heard, and Belived DEFINITION 47 organization cultures exist on 3 level- what are they TERM 48 Seen DEFINITION 48 a level of organizational culture:surface level, reflections of an organziations culutre that be observed, such as symbolic artifacts, (dress codes, office layouts) and workers' and manager's behavior TERM 49 Heard DEFINITION 49 a level of organizational culture:-expressed values and belifs- how decisions are made and explalined-what people say TERM 50 Believed DEFINITION 50 a level of organizational culture:unconscious assumptions and beliefsburied deep below the surfacerarely disucussed TERM 51 behavioral addition DEFINITION 51 a way to change organizational culture:the process of having managers and employees perform new behaviors that are central to and symbolic of the new organizational culture that a company wants to create TERM 52 behavioral substitution DEFINITION 52 a way to change organizational culture:the process of having managers and emloyees perform new behaviors central to the new organizational culture in place of behaviors that were central to the old organizational culture TERM 53 visible artifacts DEFINITION 53 a way to change organizational culture:visible signs of an organizations culutre, such as office desgin and layout, company dress code, and company benefits and perks TERM 54 values and beliefs DEFINITION 54 a way to change organizational culture:by hiring and selecting people with ____ and ____ consisten with the company's desired culutre