ADMS 1000 MIDTERM VERIFIED STUDY GUIDE
Stake Holder - Answers - A person who is impacted by the outcomes of the business
Economic Factor - Answers - Strong influence on present and future prospects,
downsizing in lean times than in rich.
Diversity - Answers - Having multiple streams to change things out in the economy, like
having a back up plan.
Seven external factors - Answers - Politics, Economy, Technology, Social, Competition,
Global, Sustainability
Politics - Answers - Countries Stability, Taxes, Trade Agreements, Laws and
Regulations.
Economy - Answers - Poor economy scares businesses and unemployment rises.
Causes companies to go offshore, to keep expenses at a minimum.
Technology - Answers - Work Approach, Equipment, Electronics, Automation,
Processing Systems.
Social - Answers - Demographics, Consumer Preferences, Attitudes, Values, Ethics.
Competition - Answers - Who are the competitors? How competitive is the industry? In
what competition does your industry operate in.
Global - Answers - Includes other 5 forces but in an international context.
The interconnection between countries.
Sustainability - Answers - Development that meets the needs of the present without
compromising the ability of future generations to meet their needs.
Goal of Sustainable Business - Answers - Economic: Make Profit
Social Equity: Meet the needs
Environment: Protect the environment
Dynamic Capabilities - Answers - The idea that you can adapt to change, in order to be
successful in a competitive market.
, When can a business thrive? - Answers - If it can effectively respond to the changing
demands and its internal and external environments.
Traditional Bureaucracy - Answers - Tall/Hierarchical
Rigid Rule-Oriented
Buffed from environment
Narrow Market
Modern Organizations - Answers - Flat
Fluid
Integrated
Global
Modern Organization: Flat - Answers - Increased decision making speed.
Fast reaction to environmental change
Allow more responsibility to employees.
Lower level employees have more decision making power.
Flat- Everyone has the same power.
Modern Organization: Fluid - Answers - Adaptable to change
Suitable in dynamic environments
A trait of organic structure.
Modern Organization: Integrated - Answers - Cross-functional teams
Self-managed teams
People are experts in all aspects of the business
Information Sharing
Alliance outside the organization
Stake Holder - Answers - A person who is impacted by the outcomes of the business
Economic Factor - Answers - Strong influence on present and future prospects,
downsizing in lean times than in rich.
Diversity - Answers - Having multiple streams to change things out in the economy, like
having a back up plan.
Seven external factors - Answers - Politics, Economy, Technology, Social, Competition,
Global, Sustainability
Politics - Answers - Countries Stability, Taxes, Trade Agreements, Laws and
Regulations.
Economy - Answers - Poor economy scares businesses and unemployment rises.
Causes companies to go offshore, to keep expenses at a minimum.
Technology - Answers - Work Approach, Equipment, Electronics, Automation,
Processing Systems.
Social - Answers - Demographics, Consumer Preferences, Attitudes, Values, Ethics.
Competition - Answers - Who are the competitors? How competitive is the industry? In
what competition does your industry operate in.
Global - Answers - Includes other 5 forces but in an international context.
The interconnection between countries.
Sustainability - Answers - Development that meets the needs of the present without
compromising the ability of future generations to meet their needs.
Goal of Sustainable Business - Answers - Economic: Make Profit
Social Equity: Meet the needs
Environment: Protect the environment
Dynamic Capabilities - Answers - The idea that you can adapt to change, in order to be
successful in a competitive market.
, When can a business thrive? - Answers - If it can effectively respond to the changing
demands and its internal and external environments.
Traditional Bureaucracy - Answers - Tall/Hierarchical
Rigid Rule-Oriented
Buffed from environment
Narrow Market
Modern Organizations - Answers - Flat
Fluid
Integrated
Global
Modern Organization: Flat - Answers - Increased decision making speed.
Fast reaction to environmental change
Allow more responsibility to employees.
Lower level employees have more decision making power.
Flat- Everyone has the same power.
Modern Organization: Fluid - Answers - Adaptable to change
Suitable in dynamic environments
A trait of organic structure.
Modern Organization: Integrated - Answers - Cross-functional teams
Self-managed teams
People are experts in all aspects of the business
Information Sharing
Alliance outside the organization
