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Contemporary Developments in Business and Organization

   

Added on  2021-02-20

14 Pages4434 Words34 Views
Business DevelopmentProfessional DevelopmentPolitical Science
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Contemporary Developments inBusiness
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Influence of External Factors on the Business organization........................................................1TASK 2............................................................................................................................................4Knowledge Management.............................................................................................................4Organization Response On Knowledge Management.................................................................8Areas for improvement in knowledge management....................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONBusiness development is a long term value creation from customer, market and relationfor the organization. Business development is an activity of any small or large organization toimprove the business of company in the market place. It also can be summerised as idea,initiative and working or organization for increasing revenue, growth in order of expansion ansincreasing the profitability of company (Charles Jr, Schmidheiny and Watts, 2017). This report isproviding brief of business development procedure of Toyota . Toyota id a multinationalautomotive organization that is working on the global level. Headquarter of the Toyota motorcorporation is in Aichi, Japan. Company was founded in year 1937 by Kiichiro Toyoda. Thisreport is providing impact and influence of the external factors on the business of Toyota.Importance of each external factor is explained for Toyota company. Importance of Knowledgemanagement for the business organization is covered for organization. Influence knowledgemanagement is analysed for policies and decision making of organization. Response of Toyotafor information management is evaluated in the study. Important recommendations are providedto improve the response of company for knowledge and information management.TASK 1Influence of External Factors on the Business organizationFor an organization is important to keep eye on the external factors that can affect thebusiness of Toyota company. These external factors of the organization are not in control ofcompany. These factors are also known as macro organizational factors. These factors areclassified in different categories which are as follows- political factors, economic factor, socialfactors, technological factors, environmental factors and legal factors. This all factors arepresents outside the organization and these factors are not in control of company. Each factoraffects the organization in different way.Political FactorsThe political factors are known as the decisions and policies of government of thecountry. The nation in which organization is performing business there are different decisionsmade be government for the stability in country. Decision related to the taxation policy, foreignpolicy, foreign trade policy, transportation policies and business policy mainly affects thebusiness of Toyota Motors (Budzianowski, 2017). Change in each of this policy make effect onthe business in different manner. Change in taxation policy force the organization to make1
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changes in the economic policies of company. The economic decision of company are based onthe economic tax policy of government. Variation in tax policy force the organization to makechanges in prices and economic structure of company. Foreign policy affect the global businessof Toyota in international market. As per foreign policy company design particular model andstrategies to perform business in international market and change in foreign policy lead tochanger in international business strategies of company. Foreign trade policy provide differentbenefits to organization to perform business outside the country. Any change made bygovernment\ in foreign trade policy can affect the pricing method of Toyota for global market.Transportation policy of government also can make huge impact on the business of company inmarket place. The business policies help the government to keep track on different businessorganizations and by this policies government somehow control the organization with in limits.This affect the business of company by making their actions limited in different area. This is howpolitical factors force the Toyota company to make different changes in the procedures andoperations methods.Economical FactorsThe different organizations have major concern about economic factors. Conditions likeeconomic crisis, recession and inflation affect the business of organization by affecting theoperation, methods and employees of company (Tukker and Tischner, 2017). This all threefactors mentioned above lead to instability in financial condition of both country andorganization. Recession and economic crisis lead to unemployment and shortage of resources.This reduces the capability of production of organization and make the company unstable inmarket. Inflation in country reduce the sells of organization and this reduces the profitability ofToyota.Social FactorsSocial factors that are considered as macro factor for the Toyota are average income ofpeople, education level of people, population of business market. These all factors affect thebusiness of Toyota. Average income of the people affect the price policy of company and alsothe profitability of organization is depended on the income of locals. Education level of peoplearound the country creates the possibilities for recruitment and selection of skilled employees.Population of the target market provide the opportunity to the Toyota to improve the sales of2
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