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Management

Chapter 4 discusses the interplay between environment, innovation, and sustainability in managerial decision-making. It outlines various external conditions, such as economic, legal-political, sociocultural, technological, and natural environments that influence organizations. Additionally, it emphasizes the importance of innovation types and sustainability practices to ensure the responsible use of resources for future generations.

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33 views2 pages

Management

Chapter 4 discusses the interplay between environment, innovation, and sustainability in managerial decision-making. It outlines various external conditions, such as economic, legal-political, sociocultural, technological, and natural environments that influence organizations. Additionally, it emphasizes the importance of innovation types and sustainability practices to ensure the responsible use of resources for future generations.

Uploaded by

nguyenleyennhi24
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CHAP 4: EVIRONMENT, INOVATION AND SUSTAINABILITY

The general environment: all external conditions that set the context for managerial decision
making

1. Economic conditions: things like the overall health of the economy in terms of financial
markets, inflation, income levels and job outlook that affect the prospects for individual

companies, the spending patterns and lifestyles of consumers, and even a nation’s
priorities.
- They must be assessed, forecasted, and considered when executives make decisions
about the strategies and operations of their organizations.
Global economic trends:
• Offshoring: the outsourcing of jobs to foreign locations.
• Reshoring: the return of jobs from foreign locations as companies establish new domestic
operations.
2. Legal-political conditions: These conditions reflect existing and proposed laws and
regulations, government policies, and the philosophy and objectives of political parties.
3. Sociocultural conditions: Norms, customs, and demographics of a society or region, as
well as social values on such matters as ethics, human rights, gender roles, and lifestyles.
4. Technological conditions: developments in the technological conditions affect the way
we work
5. Natural environment conditions: provides for organizations and society, and the need to
protect the availability of those resources for the future

The specific or tasks environment

1. Stakeholders: are the persons, groups, and institutions directly affected by the
organization’s performance.
2. Competitive advantage: is sth that an organization does extremely well, is difficult to
copy, and gives it an advantage over competitors in the marketplace. Competitive
advantage can be achieved through costs, quality, delivery, flexibility.
3. Uncertainty, complexity, and change: is a lack of information regarding what exists in the
environment and what developments may occur.

Environment and innovation

1. Types of innovations

Innovation is the process of taking a new idea and putting it into practice

+ Product innovations result in the creation of the new or improved goods and services

+ Process innovations result in better ways of doing things


+ Business model innovation result in new ways of making money for the form

+ social business innovation uses business models to address important

2. The innovation process


3. Disruptive innovation and technology

Environment and sustainability

Sustainability is a commitment to live and work in ways that protect the rights of present and
future generations co-stakeholders of the world’s resources

1. Sustainable development
2. Sustainable business
3. Sustainable goals, measurement and reporting
4. Human sustainability

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