BU111 Study Guide - Midterm Guide: Technology Transfer, Corn Syrup
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BU111 Full Course Notes
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Social: socio-cultural environment: conditions including the customs, values, attitudes, and demographic characteristics of the society in which an organization functions. Influences the customer preferences for goods and services, as well as the standards of business conduct that are deemed acceptable. Customer preferences and tastes: vary both across and within national boundaries. In some countries, people are willing to pay more for a brand name/logo (i. e. ralph. Bright coloured clothing sells better in the summer than the winter) Technological: all the ways firms create value for their constituents. Heinz developed a tomato that is sweeter than the variety it previously used to make its ketchup; this reduced its spending budget for corn syrup) Organizational boundaries and environments: e(cid:454)ter(cid:374)al e(cid:374)(cid:448)iro(cid:374)(cid:373)e(cid:374)t: e(cid:448)er(cid:455)thi(cid:374)g outside a(cid:374) orga(cid:374)izatio(cid:374)"s (cid:271)ou(cid:374)daries that (cid:373)ight affe(cid:272)t it, organizational boundary: that which separates the organization from its environment, organizational boundaries typically coincide with physical boundaries (ex. Physical (cid:271)ou(cid:374)daries of a store"s propert(cid:455)(cid:895), (cid:271)ut (cid:272)a(cid:374) so(cid:373)eti(cid:373)es (cid:271)e differe(cid:374)t (cid:894)e(cid:454).
