Management Chapter2_The Management Environment ;any constituencies in an organization’s environment that are affected by that organization’s decisions and actions.
Factors, forces, situations, and events outside the organization that affect its performance.
Political
Economic
Sociocultural
Technological
Legal
Environmental
PESTLE analysis
How does the external environment affect managers?
Through its impact on Jobs and employment
Through environmental uncertainty
Environmental uncertainty refers to the degree of (unpredictable) change and complexity in an organization’s environment (number of components of an organizations’ environment)
Through various stakeholder relationships
Stakeholder
any constituencies in an organization’s environment that are affected by that organization’s decisions and actions.