Top Ten Issues Faced by Business

BUSINESS ISSUES
AND
THE CONTEXT OF HUMAN
RESOURCE

1
Contents
Introduction............................................................................................................... 1
External factors.......................................................................................................... 1
HR functions support at the time of change........................................................................2
The way in which organisation must develop strategies.........................................................2
Ethical issues that needs to be considered..........................................................................3
Conclusion................................................................................................................ 3
References................................................................................................................ 4

2
Introduction
Two firms merge to become a larger firm and hence many types of changes had to be brought
in the organisation in order to ensure that the merger becomes effective for the organisation
(Maksimovic, Phillips and Prabhala, 2011). In the current business environment when many
kinds of challenges exist it is critical that firm look at various functional aspects that could
support their business at the time of change or at the time of developing strategies. This
report will be addressing the areas that need to be taken care of when two firms having
different products merge.
External factors
The external factors that are having impact on the businesses include:
 Economic: There is economic crisis going on in the world which has also shown
impact on the growth of the UK’s economy and hence people are not spending much
as expected. The decisions such as Brexit will again have impact on the growth of the
small business especially when the bigger firms are controlling the market and hence
the growth of the small firms is hampered due to resource scarcity of dealing with
bigger firms (Hair Jr, Page and Brunsveld, 2019).
 Globalisation: Globalisation along with the use of technology has empowered the
bigger firms from other parts of the world to do business effectively. It is due to
globalisation that smaller companies are unable to make their mark.
In order to find out the external factors that are impacting their business can be done with the
help of research of the market. This marketing research also needs to be done with the help of
data that firm that accumulated in so many years of business (Brinckmann, Grichnik and
Kapsa, 2010). This will show the areas in which their businesses are lagging and hence the
factors that is making the changes. It can also be found by conducting surveys in both the
firms between all the stakeholders. This will tell about the internal factors that are not letting
the company to develop.
It is apt to use this approach to deal with these external factors as joining of both the firms
will result in improving their synergy and also increase their scale of business which will give
them resources to deal with the problems that individual firms are facing especially in the