COMM 200 Chapter Notes - Chapter 1: Interaction Model, Corporate Social Responsibility
24 Dec 2016
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Document Summary
Business is a system of integrated actions designed to: ensure the organization develops and grows a market for goods and/or services, creates organizational value (wealth) on behalf of stakeholders. The efficiency and effectiveness of a business entity can be assessed against three fundamental characteristics: commercial endeavours undertook, human resource (employee) interaction model, and organizational efficiency and structure: commercial endeavours. = the market served, the products and services offered and the needs it meets in the market. Reflects the result of demand/supply relationship existing in the marketplace. Recognizes the capacities and capabilities of competitors within selected markets: employee interaction model. = the value-creating skills an organization"s employees bring to the marketplace: organizational efficiency and structure. = reflection of the complexities of the business activities that circulate within an organization. Reflective of development of infrastructure, related culture, and transaction processes developed to service the marketplace targeted. Business models are used to initiate and control actions in the most efficient and effective way.
