Key Concepts in Management 2 – MGT200-91 Chapter 2 Notes

Summary:

In “Key Concepts in Management 2 – MGT200-91 Chapter 2 Notes,” the focus is on understanding the internal and external environments that influence organizational performance. The internal environment includes factors such as the organization’s mission, management and culture, resources, structure, and systems process. It emphasizes the importance of positive relationships, effective resource utilization, and quality management. The external environment encompasses customers, competition, suppliers, labour force, shareholders, society, technology, the economy, and governments, highlighting their impact on organizational operations. The notes also explore the organizational culture and its various artifacts, as well as the levels of culture, including behaviour, values and beliefs, and assumptions. Ethics and social responsibility are significant topics covered, addressing different ethical perspectives, moral development, and the role of codes of ethics. Additionally, the concept of social responsibility and its different levels, from legal to ethical and benevolent CSR, are discussed. The notes conclude by touching on the importance of sustainability and meeting the needs of both the present and future generations.

Excerpt:

Key Concepts in Management 2

2.1

• Internal environment- includes factors that affect its performance from within its boundaries.
• The five internal environmental factors: are our mission, management and culture, resources, structure, and systems process.
• Mission- its purpose or reason for being.
• Stakeholders- people whose interests are affected by organizational behaviour.
• Management and culture- top-level managers are responsible for the organization’s performance as they develop the visionary mission, strategies, and plans to succeed.
• Organizational culture- consists of the values, beliefs, and assumptions about appropriate behaviour the members of an organization share.
• Resources- including human, financial, physical, and informational.
• Structure- refers to the way in which an organization groups its resources to accomplish its mission.
• System process- the technology transforms inputs into outputs to make and deliver products.
• The system process has four components: inputs, transformation, outputs, and feedback.
• Inputs- an organization’s resources that are transformed into products and services.
• Transformation- the conversion of inputs into outputs.
• Outputs- the products or services offered to customers.
• Feedback- provides a means of control to ensure the inputs and transformation process produce the desired results.