Management Definitions

Chapter 4: Environment, Innovation, and Sustainability

General Environment consist of economic, legal-political, sociocultural,
technological, and natural environment conditions
Offshoring outsourcing of jobs to foreign locations
Reshoring return of jobs from foreign locations as companies to establish
new domestic operations
Internet Censorship deliberate blockage and denial of public access to
information posted on the internet
Generation cohorts- consist of people born within a few years of one another
and who experience somewhat similar life events during their formative
years
Specific/task environment includes the people and groups with whom an
organization interacts
Stakeholders persons, groups, and institutions directly affected by an
organization
Competitive advantage something that an organization does extremely
well, is difficult to copy, and gives it an advantage over competitors in the
marketplace
Environmental uncertainty lack of information regarding what exists in the
environment and what developments may occur
Innovation process of taking a new idea and putting it into practice
Product innovations results in new or improved goods or services
Process innovations result in better ways of doing things
Business model innovations result in ways for firm to make money
Social business innovations finds ways to use business models to address
important social problems
Reverse innovations recognizes the potential for valuable innovations to be
launched from lower organization levels and diverse locations, including
emerging markets

Disruptive innovations - creates products or services that become so widely

used that largely replace prior practices and competitors
Sustainability commitment to protect the rights of present and future
generations as co-stakeholders of the worlds resources
Sustainable development uses environmental resources to support societal
needs today while also preserving and protecting them for future generations
Environmental capital or natural capital storehouse of natural resources
atmosphere, land, water, and minerals that we use to sustain life and
produce goods and services for society
Triple bottom line accesses the economic, social, and environmental
performance of organizations
3 Ps of organizational performance Profit, people, and planet
Sustainable business operates in ways that meet the needs of customers
while protecting or advancing the well-being of our natural environment
Sustainable innovations or green innovations help reduce an organizations
negative impact and enhance its positive impact on the natural environment