Solved by verified expert :1) An organization is a tool people use to coordinate their
actions to obtain something they desire or value.
2) Organizations die or are transformed when the needs
satisfied by them are no longer important.
3) Entrepreneurship is the process by which people recognize
opportunities to satisfy needs and then gather and use resources to meet those
needs.
4) Value creation by an organization takes place at three
stages: input, conversion, and output. Out of these three stages, only the conversion
stage is affected by the environment in which the organization operates.
5) The organizational environment is a set of forces and
conditions that operate within an organization’s boundaries.
6) Government is a part of organizational environment.
7) As compared to a large company, the degree of
specialization in a small company is higher.
8) The environment in which an organization operates is a
major source of uncertainty.
