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Context Of Business (PDF)

   

Added on  2021-02-19

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Context of Business

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................3

INTRODUCTIONFor very business it is necessary to perform their responsibilities in well manner. This isbecause the change that occurs in relation to social, cultural context affects firms to a greatextent. However, leader plays an important role in organisation (Prajogo, 2016). They areresponsible for implementing change. Besides this, change in CSR impact on leadership stylewithin an organisation. The assignment will discuss reasons why it is important to manageresponsibility, sustainability and behave ethically in various aspects. The present report is basedon M&S. It operates in retail sector globally. MAIN BODY Understand dynamic and changing nature of businessIn a fast moving world, there are many changes occurring within business. Due todynamic nature of business it is difficult for them to maintain their operational efficiency. Also,in order to remain competitive in the market business has to develop strategies and expand innew markets. The frequent changes in laws, policies, etc. are changing the context of businessoperations (Business environment. 2016). Furthermore, the global business environment hasbecome such a complex that small firms are not able to survive in it. There has been manychanges occurred in different areas such as politics, social, environmental, etc. So, it has resultedin rise in many issues in it. Thus, it has become important for enterprise to solve the issues sothat they can operate at global scale. In retail sector there are many companies operating. Theyhave to adhere rules and regulations of different country. Apart from it, there are many smallfirms entering into retail sector and offering variety of products and services. Besides this, manynew concepts have emerged in retail industry. In the future it is expected that every retail firm will face stiff competition (Contreras andet.al., 2015). There will be vast number of opportunities exists which will allow businesses toenter in new market. Alongside it, technology will play a major role in gaining competitiveadvantage. It will transform the way of providing products at global level. Hence, it will provideopen platform for organisation to operate in retail sector. There will arise many risk related toenter n retail sector. It includes failure of business, insufficient fund, etc. the organisation willhave to control and maintain their operations effectively. 1

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