MGC1010 Lecture Notes - Lecture 1: Shamrock, Haymarket Media Group, Network Economy
12 Aug 2018
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Document Summary
Managers and environment: there are a reciprocal relationship between managers and the environment they exist in. Managers have the power to incentivise change in the environment particularly senior managers in large corporations have the power to change aspects of society through their own decisions. For instance; a company taking on more risks can start a trend in smaller businesses to do the same on their scale. Societies are placing greater importance on affluence and acquirement of material possessions. Managers are becoming more inclined to take risks. Network economy: the growing connectedness of corporations due to the advancements of technology. Global economy; globalisation is the process in which corporations are being forced to enter the global market to keep up with competitors. E. g. companies having overseas manufacturers even though their business only operates in one country. Performance driven: companies are expected to make continuous improvements and evolving to match the constantly shifting environment.
