ADMN 1000H MIDTERM VERIFIED STUDY GUIDE
Leadership - Answers - how ppl are managed within an organization
Strategy - Answers - decisions made by business managers about how the company
will address political, economic, global, societal, competitive and technological forces
Change - Answers - shift in how an organization operates
Labour - Answers - one of the five factors of production, includes all workers in an
organization who contribute their talents and strengths to create goods and services
Structure - Answers - planned network or pattern of relationships that exists among
individuals within an organization, determines division of labour, span of control, level of
formalization and how centralized decision making is
Specific or Task Environment - Answers - environment in which particular organization
operates, ultimately shaped by the general environment, includes stakeholders,
customers, competitors, suppliers etc
General Environment - Answers - environment shared by al organizations in a society,
such as economic and political environments, and technological, societal, competitive
and global forces
External Stakeholders - Answers - individuals or groups who bear some kind of risk
(financial, physical etc) as result of corporations actions. Include such parties as
suppliers, government and society in general. There are ethical and practical reasons to
attend to all of their interests, even when they conflict
Economic Forces - Answers - economic influences on organizations such as state of
economy, unemployment, inflation, interest rates and gross domestic product
Competitive Forces - Answers - domestic and foreign competitor influences on
organizational decisions. Competitors are organizations operating in same industry and
selling similar products/services. Competitors may compete in dif ways
Technological Forces - Answers - environment that exerts influence across industries,
playing a central role in how an organization functions, obtains resources and
competes. Changes in technology permit and demand organizational change
Globalization - Answers - process involving integration of national economics and the
worldwide convergence of consumer preferences; the process of generating a single
world economic system
, Political Forces - Answers - governmental influences on organizations decisions through
laws, taxes, trade relationships, and other related political factors
Societal Forces - Answers - wide range of influences in society in general, including
changes in public opinion on ethical issues (organizational justice), affects all
organizations which businesses must respond
Sustainability - Answers - relationship between the 3 P's: people, profits and the planet
Triple Bottom Line - Answers - accounting framework that can be voluntarily used by
organizations to report performance on social, economic and environmental results for a
project or reporting period
Organizational Learning - Answers - detection and correction of error or collective
experience of individuals within organization the results in changes in organizational
procedure. 3 aspects of learning: adapting to environment, learning from employees,
contributing to learning of wide community/context. 2 types of learning: single loop
learning and double-loop learning
Gross Domestic Product (GDP) - Answers - total value of a country's output of goods
and services in a given year
Big Six - Answers - Canada's six largest banks including CIBC. Scotiabank, TD Canada,
Trust, BMO, RBC and National Bank
Competitive Advantage - Answers - achieved when organization excels in one or more
attributes that allow it to outperform its competitors
Attribute - Answers - business advantage, might include having highly skilled staff,
patented technology, unique market strategy, well-known brand, or something else that
makes company leader in its field
Knowledge Workers - Answers - ppl employed in knowledge-intensive industries, such
as high-tech industries, where specialized and frequently changing knowledge is
required. Knowledge work is harder to routinize than service work
Branch Plants - Answers - subsidiaries (of companies in another country) that do not
perform the complete range of functions necessary to offer product in that marketplace.
Defer responsibility of higher-level strategic functions to the parent company
Mixed System - Answers - economic system that involves a capitalist economy with
important gov role
Employment - Answers - relationship between employer and employee involving
exchange of labour power (work) for something of value (wages or benefits)
Leadership - Answers - how ppl are managed within an organization
Strategy - Answers - decisions made by business managers about how the company
will address political, economic, global, societal, competitive and technological forces
Change - Answers - shift in how an organization operates
Labour - Answers - one of the five factors of production, includes all workers in an
organization who contribute their talents and strengths to create goods and services
Structure - Answers - planned network or pattern of relationships that exists among
individuals within an organization, determines division of labour, span of control, level of
formalization and how centralized decision making is
Specific or Task Environment - Answers - environment in which particular organization
operates, ultimately shaped by the general environment, includes stakeholders,
customers, competitors, suppliers etc
General Environment - Answers - environment shared by al organizations in a society,
such as economic and political environments, and technological, societal, competitive
and global forces
External Stakeholders - Answers - individuals or groups who bear some kind of risk
(financial, physical etc) as result of corporations actions. Include such parties as
suppliers, government and society in general. There are ethical and practical reasons to
attend to all of their interests, even when they conflict
Economic Forces - Answers - economic influences on organizations such as state of
economy, unemployment, inflation, interest rates and gross domestic product
Competitive Forces - Answers - domestic and foreign competitor influences on
organizational decisions. Competitors are organizations operating in same industry and
selling similar products/services. Competitors may compete in dif ways
Technological Forces - Answers - environment that exerts influence across industries,
playing a central role in how an organization functions, obtains resources and
competes. Changes in technology permit and demand organizational change
Globalization - Answers - process involving integration of national economics and the
worldwide convergence of consumer preferences; the process of generating a single
world economic system
, Political Forces - Answers - governmental influences on organizations decisions through
laws, taxes, trade relationships, and other related political factors
Societal Forces - Answers - wide range of influences in society in general, including
changes in public opinion on ethical issues (organizational justice), affects all
organizations which businesses must respond
Sustainability - Answers - relationship between the 3 P's: people, profits and the planet
Triple Bottom Line - Answers - accounting framework that can be voluntarily used by
organizations to report performance on social, economic and environmental results for a
project or reporting period
Organizational Learning - Answers - detection and correction of error or collective
experience of individuals within organization the results in changes in organizational
procedure. 3 aspects of learning: adapting to environment, learning from employees,
contributing to learning of wide community/context. 2 types of learning: single loop
learning and double-loop learning
Gross Domestic Product (GDP) - Answers - total value of a country's output of goods
and services in a given year
Big Six - Answers - Canada's six largest banks including CIBC. Scotiabank, TD Canada,
Trust, BMO, RBC and National Bank
Competitive Advantage - Answers - achieved when organization excels in one or more
attributes that allow it to outperform its competitors
Attribute - Answers - business advantage, might include having highly skilled staff,
patented technology, unique market strategy, well-known brand, or something else that
makes company leader in its field
Knowledge Workers - Answers - ppl employed in knowledge-intensive industries, such
as high-tech industries, where specialized and frequently changing knowledge is
required. Knowledge work is harder to routinize than service work
Branch Plants - Answers - subsidiaries (of companies in another country) that do not
perform the complete range of functions necessary to offer product in that marketplace.
Defer responsibility of higher-level strategic functions to the parent company
Mixed System - Answers - economic system that involves a capitalist economy with
important gov role
Employment - Answers - relationship between employer and employee involving
exchange of labour power (work) for something of value (wages or benefits)
