Chapter 2.docx - Chapter 2 Environment of Business Dimensions of the External Environments Multiple Organizational Environments o Economic environment

Chapter 2.docx - Chapter 2 Environment of Business...

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Chapter 2: Environment of Business Dimensions of the External Environments Multiple Organizational Environments o Economic environment He conditions of the economic system in which an organization operates Key economic goals: Economic growth Economic stability Full employment Business cycle The typical pattern of short-term ups and downs in an economy (peak, recession, trough and recovery) Aggregate Output Measure of economic group Total quantity of goods and services produced by an economic system during a given period Standard of living Total quantity and quality of goods and services that a country’s citizens can purchase with their currency Productivity Measure of growth that compares the output of an economic system with the resources that are needed to produce the output Standard of living improves through increases in productivity Measuring Economic Growth Gross National Product (GNP)
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  • Fall '12
  • HerbMacKenzie

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