Chapter Summary by Learning Outcome
2-1 Explain what the external environment is and why it’s important.
The external environment refers to factors, forces, situations, and events outside the organization that affect its performance. It includes economic, demographic, political/legal, sociocultural, technological, and global components. The external environment is important because it poses constraints and challenges to managers.
2-2 Discuss how the external environment affects managers.
There are three ways that the external environment affects managers: its impact on jobs and employment, the amount of environmental uncertainty, and the nature of stakeholder relationships.
2-3 Define organizational culture and explain why it’s ...
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