Management (Ch.2 -- Environmental Constraints On Managers)

Front 1

Omnipotent view of management

Back 1

The view that mgrs are directly responsible for an organization's success or failure.

Front 2

Symbolic view of management

Back 2

The view that managers have only a limited effect on substantive organizational outcomes because of the large number of factors outside their control.

Front 3

External environment

Back 3

Outside forces and instituions that potentially can affect the organization's performance.

Front 4

Specific environment

Back 4

The part of the external environment that is directly relevant to the achievement of an organization's goals.

Front 5

General environment

Back 5

Broad external conditions that may affect the organization

Front 6

European Union (EU)

Back 6

A union of 27 European countries that forms an economic and political entity.

Front 7

North American Free Trade Agreement (NAFTA)

Back 7

An agreement among the Canadian, American, and Mexican governments in which barriers to free trade were reduced.

Front 8

Association of Southeast Asian Nations (ASEAN)

Back 8

A trading alliance of 10 Southeast Asian countries.

Front 9

World Trade Organization

Back 9

A global organization of 149 member countries that deals with the rules of trade among nations.

Front 10

Market Economy

Back 10

An economic system in which resources are primarily owned and controlled by the private sector.

Front 11

Command economy

Back 11

An economic system in which all economic decisions are planned by a central government.

Front 12

National culture

Back 12

The values and attitudes shared by individuals from a specific country that shape their behaviour and beliefs about what is important.

Front 13

Multinational corporation (MNC)

Back 13

A company that maintains significant operations in multiple countries but manages them from a base in the home country.

Front 14

Transnational corporation (TNC)

Back 14

A company that maintains significant operations in more than one country but decentralizes management to the local country.

Front 15

Borderless orgranization

Back 15

A type of global organization in which artificial geographical barrier are eliminated.

Front 16

Exporting

Back 16

An approach to going global that involves making products at home and selling them overseas.

Front 17

Importing

Back 17

An approach to going global that involves selling products at home that are made overseas.

Front 18

Licensing

Back 18

An approach to going global in which a manufacturer gives another organization the right to use its brand name, technology, or product specifications.

Front 19

Franchising

Back 19

An approach to going global in which a service organization gives a person or group the right to sell a product, using specific business methods and practices that are standardized.

Front 20

Strategic alliance

Back 20

An approach to going bglobal that involves a partnership between a domestic and a foreign company in which both share resources and knowledge in developing new products or building production facilities.

Front 21

Joint venture

Back 21

An approach to going global in which the partners agree to form a separate, independent organization for some business purpose; it is a type of strategic alliance.

Front 22

Foreign subsidiary

Back 22

An approach to going global that involves a direct investment in a foreign country by setting up a separate and independent production facility or office.

Front 23

Environmental uncertainty

Back 23

The degree of change and degree of complexity in an organization's environment.

Front 24

Environmental complexity

Back 24

The number of components in an organization's environment and the extent of the organization's knowledge about those components.

Front 25

Stakeholders

Back 25

Any constituencies in the organization's external environment that are affect by the organization's decisions and actions.

Front 26

Shareholders

Back 26

Individuals or companies that own stocks in a business.