Organziation, Structure, Process

- raw materials

- skilled employees an organization needs to produce goods and services

- information it needs to improve technology or decide on its competitve strategy

- support of outside stakeholders (customers, banks, financial institutions)

- competition from rivals for customers

- rapid change in technology

- increase in the price of important inputs that raises operating costs.

- a tool used by people to coordinate their actions to obtain something they desire or value

- is intangible

- is a social system, with its own identity and culture

- is changing and developing, constantly adjusting to new needs and forces and environmental changes

is the process by which people recognize opportunities to satisfy needs, and then gather and use rescources to meet those needs

The particular range of goods and services that the organization produces and the customers and other stakeholders it serves

- increase specialization and division of labor

- use large scale technology

- manage the external environment

- economize on transaction costs

- exert power and control

takes place at three stages:

- input (raw materials, money, HR, information & knowledge)

- conversion (machinery, computers, human skills and abilities)

- output (finished goods, services, dividends, salaries, value for stakeholders)

Consists of the combination of competitive moves around business approaches used by managers to run the company.

"game plan" to:

- attract and plese customers

- stake out a market position

- compete succesfully

- grow the business

- achieve targeted objectives.

- Where we are now?

- Where do we want to go?

- How will we get there? (-> strategy)

The study of how organizations function and how they affect and are affected by the environment in which they operate.