Impact of Dynamic Forces on Businesses
Added on 2020-06-03
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CONTEMPORARYMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1Key dynamic forces impacting on society and business........................................................1Relations between such forces in terms of effective strategic decision making....................2Decision making tool..............................................................................................................3CONCLUSION ...............................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONContemporary management contains operations such as planning, organizing, leading andcontrolling for achieving company’s goals and objectives. Managers at every level of companyare responsible for utilization of resources in a proper manner (Amin, 2014). Supervisingpersonnel, monitoring information and new skills development in decision making are importantfor getting success. Samsung was found on 1st march 1938, Daegu, South Korea and founder ofthis company is Lee Byung-Chul. They employed approx. 4, 89,000 employees in 2014 in theirfirm. They provide products and services of electronics such as telecommunication equipment,home appliances, electronic components, advertising, financial services, etc. This report willdiscuss about the dynamic forces in terms of effective strategic decision making and relationsbetween such forces. TASKKey dynamic forces impacting on society and businessChanges are necessary within organisation for eliminating threats and opportunities.Many issues of the organisation effect operations of business. There are some dynamic forceswhich put a direct impact on society and business: Market forces: These are the forces which affect product’s prices, demand, supply andmany more. Buyers needs are the opportunity for Samsung organisation. Competitorswhich are new in the marketplace are those which are non-traditional from othersorganisation.Strength of competitors can be mergers and acquisition which effect onlosing supplier. Changes in distributor and supply chain effect forces of markets. Technological forces: These forces put impact on everything from manufacturing aproduct to how consumers will use it along with their impact on each function of anenterprise. It contains how marketing reaches customers, how sales are tracked as wellas what products are developed and managed. Changes in technology give new andmore effective ways to tackle logistics and shipping. Advanced technologies are adoptedby Samsung so it can help in beating competition and market. Samsung find out a wayof make a structure to a pocket (Cull and et. al., 2011). By launching a tablet of GalaxyNote 2 like a mobile phone, it mean that they can do their work in restaurants, in publictransport etc. without carrying a big machine. 1
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