Chapter 3 Summary.docx

Chapter 3 Summary.docx - Professor Noh MGT 250 13 April...

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Professor Noh MGT 250 13 April 2017 Chapter 3 Summary External environments - all events outside a company that have the potential to influence or affect it. Environmental change - the rate at which a company’s general and specific environments change. Stable environment - an environment in which the rate of change is slow. Dynamic environment - an environment in which the rate of change is fast. Punctuated equilibrium theory - the theory that companies go through long periods of stability (equilibrium) followed by short periods of dynamic, fundamental change (revolutionary periods), and then a new equilibrium. Environmental complexity - the number and intensity of external factors in the environment that affect organizations. Simple environment - an environment with few environmental factors. Complex environment - an environment with many environmental factors. Resource scarcity - the abundance or shortage of critical organizational resources in an organization’s external environment. Uncertainty - extent to which managers can understand or predict which environmental changes and trends will affect their businesses. General environment - the economic, technological, sociocultural, and political/legal trends that indirectly affect all organizations.
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  • Fall '17
  • Organizational studies, Natural environment, Advocacy, advocacy group tactic

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