Principles 1/30

Supplier component: companies that provide resources (raw materials)
-buyer dependence: the degree to which a company has to rely on its supplier; the difficulty of selling products to other buyers
-supplier dependence: the importance of the supplier’s product to the company; the difficulty of finding other sources of that product
Labor Market:***involves people who are able and available to work***
-three trends:
1. growing need for computer-literate knowledge workers
2. necessity for ongoing investment in human resources
– recruitment, education, training
3. Effects on international trading blocks, automation, *outsourcing*, and shifting facilities to locations upon labor dislocations
External Environment & uncertainty
-uncertainty: managers do not have sufficient information about the external environment
– look to ppt to see low to high uncertainty
– two key factors:
1. rate of change in factors of environment (vertical)
2. # of factors in organization environment (horizontal)
Making sense of changing environments:
1. Environmental Scanning
2. Interpreting Environmental factors (knowing competitor weakness, etc.)
3. Acting on threats and opportunities
Organizational Culture: the set of key values, beliefs, understandings, and norms that members of an organization share
1. surface level: seen and observed (dress codes, behavior, memos)
2. expressed values and beliefs: heard but not seen (what ppl say, how decisions made)
3. unconsciously held assumptions & beliefs: unwritten and rarely discussed (widely shared assumptions and beliefs, **buried deep below surface**, rarely discussed or thought of)

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