1: Agreement enforceable by law
2: Made between two or more parties
3: Must have offer and acceptance
4: For lawful consideration
5: Creates legal obligations
1: Helps in planning and decision making
2: Identifies opportunities and threats
3: Enables adaptation to change
4: Improves performance
5: Helps in strategy formulation
1: Sum of all external and internal forces affecting business
2: Includes economic, social, political and legal factors
3: Keeps changing continuously
4: Affects business decisions
5: Both opportunities and threats are present
1: Shared values and beliefs in organization
2: Shapes employee behavior
3: Created by founders and leaders
4: Can be strong or weak
5: Affects performance and retention
1: Forces operating within a group
2: Includes roles, norms and cohesion
3: Affects group performance
4: Goes through forming, storming, norming stages
5: Important for teamwork
1: Ability to influence and guide people
2: Sets vision and direction
3: Types: autocratic, democratic, laissez-faire
4: Different from management
5: Builds team trust and morale
Short 5:
1: Internal drive to achieve goals
2: Increases employee performance
3: Can be intrinsic or extrinsic
4: Theories include Maslow and Herzberg
5: Important for job satisfaction
1: Study of human behavior in organizations
2: Focuses on individuals, groups and structure
3: Aims to improve productivity and satisfaction
4: Uses psychology, sociology and management concepts
5: Helps in understanding workplace dynamics
