MGMT10002 Lecture Notes - Lecture 2: Organizational Behavior, Digital Distribution, Human Capital

• School: University of Melbourne
• Department: Management
• Course: MGMT10002
• Professor: Vanessa Pouthier

Document Summary

Includes all elements existing outside boundaries of the organisation. These elements have potential to affect the organisation (e. g. ) technological change impacted music industry lower barriers to entry (e. g. ) food industry change in consumer preferences. Internet"s influence has the potential to change the industry. Was previously controlled by few record labels that have been consistently able to sustain high profit margins. Individuals and groups who consume goods/services produced by organisations. Smaller organisations have to be innovative in reaching customers. Not powerless can switch between substitutes (e. g. ) food industry and healthy products. Supply chain links between various groups in the product of a good/service. Individuals or groups who provide goods/services to the organisations. Reply on them to deliver products in order to deliver their own. Suppliers can increase price, hence decrease profitability for organisations. Scarcity of people with skills required for new emerging roles. Laws that govern what business" can do (e. g. ) How stable and favourable to business" the political environment is.