Global Trade Organizations and Agreements
Key International Trade Organizations
GATT: General Agreement on Tariffs and Trade
GATT was a significant international agreement established in 1947. Its primary objective was to facilitate and ensure fairness in global trade by reducing tariffs and eliminating trade barriers between nations.
GATT operated on three core principles:
- Most Favoured Nation (MFN): Mandates equal treatment for all trading partners. Any trade advantage granted to one country must be extended to all other GATT members.
- National
Technology and Organizational Structure: Theories & Impact
Technology in Organizations: Definition & Levels
Technology refers to the set of skills, knowledge, machinery, tools, and equipment that people use to change or transform raw materials into valuable products or services.
Within an organization, technology operates at three distinct levels:
- Individual: The knowledge and skills possessed by individual people.
- Functional or Departmental: The procedures and techniques developed by specific work groups.
- Organizational: The way the entire organization
Team Collaboration and Conflict Resolution Strategies
Team Problem-Solving Methods
Solving problems in a group is not just about finding a solution, but doing so in a structured and collaborative way.
1. Brainstorming
Share lots of ideas freely, without judging, to solve a problem. Advantages: Boosts creativity, includes everyone, no pressure to have a perfect idea.
2. Root Cause Analysis
Ask “Why did this happen?” until you find the real cause, to understand why and prevent repetition. Advantages: Solves the real problem and prevents it from happening
Read MoreEssential Concepts in Organizational Management
Understanding Management: Definition and Variables
Management involves the process of planning, directing, and controlling all variables that constitute an organization.
- Planning:
- Determining what actions to take and when to take them.
- Directing:
- Guiding how tasks are performed (operational systems). This adds value to a service or product.
- Controlling:
- Monitoring and evaluating processes through feedback. Information is compiled as “Output” to ensure objectives are met.
Contrasting McGregor’s Theories
Read MoreOpioid Crisis Ethics: Corporate Accountability & Public Health
Ethical Dilemma: Profit Versus Public Health
The ethical dilemma in this case is between profit versus responsibility. Pharmaceutical companies and consulting firms like McKinsey had to decide whether to keep pushing opioids (which were profitable) or act ethically and protect public health. They chose profit, even when they knew the consequences included addiction, overdose, and death. It is a clear conflict between what is legal or financially beneficial versus what is morally right.
Key Stakeholders
Read MoreKey Elements of Strategic Business and Marketing Planning
Strategic Planning Fundamentals
Defining Mission, Vision, and Values
The Mission declares the overall role of the company in society, its general purpose, and what consumer needs it aims to satisfy. A strong mission statement has four key functions:
- Satisfying customer needs
- Referring to the benefits it will supply
- Referring to the stage in the value-adding process it will complete
- Referring to the competencies it will develop (skills and capabilities they focus on)
The Vision outlines the company’s aspirational