ADMN 1000H Lecture Notes - Lecture 1: Videotelephony, Canadian Business, Competitive Advantage
3 Jan 2018
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Document Summary
Organizations: social entities that are, goal directed, designed as deliberately structured and coordinated activity systems linked to the external environments. Importance of them - bring together resources to achieve desired goals and outcomes, produce goods and services ef ciently, facilitate innovation, use modern manufacturing and information technologies. They also adapt to and in uence a changing environment, create value for owners, customers and employees, accommodate ongoing challenges of diversity, ethics and the motivation and coordination of employees. Competitive advantage: this is achieved when an organization excels in one or more attributes that allow it to outperform its competitors. When an organization enjoys a competitive advantage it will have a leading edge over its competitors. To achieve this an organization has to manage its internal and external organizational environment. Labour - one of the four factors of productions. Includes all workers in an organization who contributes their talents and strengths to create goods and services.
