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Fundamentals of Management Canadian 8th Edition Robbins Solutions Manual

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  1 Copyright © 2017 Pearson Canada Inc.  Fundamentals of Management Canadian 8th Edition Robbins Solutions Manual Full clear download (no formatting errors) at:  Fundamentals of Management Canadian 8th Edition Robbins Test Bank Full clear download (no formatting errors) at:  Chapter 2   Environmental Constraints On Managers LECTURE OUTLINE  Learning Objective 1: Define what is the external environment for managers? The External Environment The Specific Environment Stakeholders Shareholders Customers Suppliers Competitors The General Environment Political Conditions Economic Conditions Socio-cultural Conditions Technological Conditions Environnemental Conditions Legal Conditions Learning Objective 2: Describe what challenges do managers face in a global environment? Understanding the Global Environment Global Trade Regional Trading Alliances The World Trade Organization PESTEL –  Global Environment Learning Objective 3: Explain how do organizations do business globally? Doing Business Globally Different Types of Global Organizations Multinational Corporations Multi-domestic Corporations Global Companies Transnational or Borderless Corporations Born Globals  2 Copyright © 2017 Pearson Canada Inc.  How Organizations Go Global  Importing and Exporting Licensing and Franchising Strategic Alliance Foreign Subsidiary Learning Objective 4: Explain how does the environment affect managers? How the Environment Affects Managers  Assessing Environmental Unce rtain ty   The Pros and Cons of Globalization Please note: This Instru ctor’s  Manual (IM) includes guides and connections as follows:  3 Copyright © 2017 Pearson Canada Inc.  Suggested approaches and teaching strategies for the end of chapter exercises and cases (see this information below). Connections and linkages to useful chapter related materials and activities in the text as well as the MyManagementLab (MML) accompanying this text (see the table below) based upon different levels of learning and application (Interpret, Analyze & Practice)  Additional suggested activities designed to gradually elevate your studen t’s  understanding of the chapter material are also available for your use as classroom or take home assignments (see the Supplemental Activities section at the end of this chapter summary). These activities are also introduced in the text as possible instructor-led exercises. MyManagementLab® Learning Resources   Resources   ● Student PowerPoints ●  Audio Summary of Chapter ● ROLLS (Robbins Online Learning System) ● MySearchLab The MyManagementLab features a personalized Study Plan that includes a Pre-Test and a Post Test for each chapter. Once students have read the chapter the pre-test is designed to help students identify which concepts they have understood and then guides them towards study tools for the areas in which they may need more practice. The Post-Tests are designed to help students confirm their mastery of all the key chapter concepts. T his chapter discusses the components and complexities of the external environment and how these may constrain managers. The chapter also explores the opportunities and challenges managers face in managing in a global environment. Managers in all types and sizes of organizations must be prepared to monitor changes in the global environment. 1. What is the external environment for managers? 2. What challenges do managers face in a global environment? 3. How do organizations do business globally? 4. How does the environment affect managers?  CHAPTER OVERVIEW   INTRODUCTION Managers must be aware that organizational environments will influence both the way an organization is managed and its effectiveness. In this chapter, we consider the impact of an organization ’s  external environment on the ability of managers to act. We begin our exploration by considering the degree of control managers have over an organiza tion’s  performance. Can managers do anything they want? Do managers control their environment, or are they controlled  by it? Are they affected more by circumstances outside or inside the organization? Organizational environments as well as the global environment are explored in order to understand the complexities involved in each. Managers who don ’ t closely monitor changes in the global environment, or who do n’t  take the specific characteristics of their location into consideration as they plan, organize, lead, and control are likely to find limited global success.  4 Copyright © 2017 Pearson Canada Inc.  Learning Objective 1: Define what is the external environment for managers? THE EXTERNAL ENVIRONMENT The term external environment refers to forces and institutions outside the organization that potentially can affect its performance. The external environment is made up of three components, as shown in Exhibit 2-1   A. The Specific Environment The specific environment is the micro part of the environment that includes the constituencies that are directly relevant to the achievement of an organization ’s   goals. Each organiza tion’s   specific environment is unique and changes with conditions. The main forces that make up the specific environment include stakeholders, shareholders, customers, suppliers, and competitors. Stakeholders have a stake in or are significantly influenced by what the organization does. In turn, these groups can influence the organization. Often an organization depends on these groups as sources of inputs (resources) and as outlets for outputs (goods and services), and managers should consider their interests as they make decisions and take actions. Shareholders (also known as stockholders) own one or more shares of stock in a company. Since these individuals have a vested interest in how the company performs (in that they have put their own money into the activities of the firm) they will expect results that provide them with a positive return on that investment. 1. Customers Customers are the reason that organizations exist, as they absorb the outputs. They obviously represent potential uncertainty, particularly if their tastes and desires change. 2. Suppliers This force includes firms that provide materials and equipment as well as financial and Labour inputs. Managers seek to ensure a steady flow of the needed materials, equipment, and financial and Labour inputs at the lowest possible prices. 3. Competitors  All organizations — profit and not-for-profit — have competitors which are an important environmental force to monitor and respond to. Competitors give customers a choice and therefore present a challenging force to all organizations. B. The General Environment The general environment includes the broad political, economic, socio-cultural, technological, environmental and legal conditions that can affect and organi zation’s  performance. The PESTEL acronym is often used to capture the key elements of this environment. 1. Political Conditions Political conditions include the political climate, the general stability of a country in  which an organization operates, and the attitudes that elected government officials hold toward business. The political environment influences businesses, and also has a major impact on consumer confidence and spending. Organizations seek ―st a  ble‖  political environments for some measure of predictability –  but this is not possible in many parts of the world. 2. Economic Conditions These conditions include interest and inflation rates, disposable income, stock market fluctuations, and the general business cycle, among many other things. The overall health of an economy has a significant effect on how well a business will perform in that environment. 3. Socio-Cultural Conditions These conditions include both the static and the ever-changing expectations of society. Societal values, customs, and tastes are rooted in centuries of practice and
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