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Management Theory

For Cheryl, who has a test on Thursday.
I chose to put it up here because most web-based email clients do not support html tags, and I thought putting things down in a list would facilitate reading. Well, also because my email server just went down on me.
So Casandra, or anyone who knows Cheryl Ling and is reading this…please email, SMS, or tell her that this is online.
Instead of just vomiting out everything I can remember about the topics you specified, I'll just lay the outline, most of which I think is further elaborated in the textbook. Unless, like some people, you didn't buy the textbook. *looks at Casandra*.
<u>The External Environment</u>
Consists of the following: <strong>PETS</strong>
<ul style="color:black"><li><strong>P</strong>olitical and Legal</li>
<li><strong>E</strong>conomic</li>
<li><strong>T</strong>echnological</li>
<li><strong>S</strong>ocial</li></ul>
<blockquote>The Political and Legal environment deals with two things: Politics and Law (easy huh). The political aspect revolves around government policies and how they affect a normal business. Example, a policy of eco-friendliness would spell doom for the timber or sharkfin industry. The legal aspect deals with how prevailing laws restrict or protect the particular business.
The Economic environment deals with things that directly affect the profit of the business. They are:
<ul style="color:black"><li>Capital</li>
<li>Labour</li>
<li>Customers</li>
<li>Price</li>
<li>Tax</li></ul>
You can easily remember these five headings by remembering this: <strong>C</strong>heryl <strong>L</strong>ing <strong>C</strong>annot <strong>P</strong>ass <strong>T</strong>ests, which is of course ironic, because if you remember this, you're almost halfway there.
The Technological environment covers how technolgy affects a business, that is, the benefits and problems they bring. If I recall there are a few categories that technological changes are classified under. Examples include the ability to generate more than ever before, the ability to cut down on transit time (freight costs go down), etc etc.
The Social environment most revolves around beliefs, attitudes and values. It also deals with the expectations, education and customs of people in a given society.</blockquote>
Tell me if this is useful at all, and I'll continue on the other two topics tonight. Oh, click on "Link this" to read this without all the sidebar and everything else.

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