- It looks at federal laws,State laws,Local Laws,As well of laws of other countries and global laws.
- Example:The law was set that the age limit for working was 14 now it's 16.
- How can it affect the management not following that could cause they store to close.
- Organizational Culture: The shared values ,Principles,Traditions,and ways of doing things that influence the way organizational members act.
- People orientation
- Degree to which management decisions take into account the effects on people in the organization.
- Trends in population characteristics such as age,Race,gender,education level,Geographics location and family composition.
- Example: Race and gender a person shouldn't be judged just to work.
- This affects the management because if they judge by color and gender they could lose their business.
- Encomposses Factors,Such as interest rates,Inflation,Unemployment Rates etc.
- Ex:Inflation went down to up.
- It will affect the management because with inflation going up the prices goes up.
- Component is concerned with societal and cultural factors such as values,Attitudes,Trends and etc.
- This will affect management because you need to learn cultural to know how somebody speaks and talk.And how you should communicate with them.
- Component is concerned with scientific or industrial innovation.
- Ex:Transporting products to stores.
- It could affect management because the products wouldn't be able to be delivered.
- Componet encomposses those issues like a volcano erruption.
- Ex:A terrorist Attack or volcano eruption.
- This can affect the management causing people to lose jobs and homes.