The Dynamic Changing Nature Of Business Environment

Context of Business

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
Dynamic and changing nature of business while considering future trends within global
context .......................................................................................................................................3
Impact of CSR on social, cultural, economic and environmental issues....................................4
TASK 2............................................................................................................................................6
Overview of organization ...........................................................................................................6
Vision, leadership style and management practices applied in an organization ........................7
Influence of culture and management style on business functions ............................................8
Recommendations on improvement of leadership style, management practices and strategies
that is used by the firm .............................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Business refers to the process of buying and selling of products or services for the
purpose of earning profit (Zhao and et. al., 2018). There are different forms of organization such
as sole proprietorship, partnership, hybrid business etc.
Present report is divided into two tasks as first task include dynamic and changing nature
of business and the consideration of the future in general sense and in another task retail sector is
taken into account for doing further study.
Report emphasized on dynamic and changing nature of business and the consideration of
future of organizations in global context. It includes impact of CSR on social, cultural, economic
and environmental issues. Furthermore, it emphasized on leadership style and management
practices that is having an impact on business. It also includes influence of culture and
management style on business functions.
TASK 1
Dynamic and changing nature of business while considering future trends within global context
Dynamic nature of business means changing nature and existence of product or services
that help in fulfilling needs and wants of consumer for the future trends. Changing nature of
business includes different perspective that emphasize on satisfying expectations and needs of
consumers. Adopting changes in business that help in evaluating different factors that provide
change in business operations (Wang and et. al., 2016). There are various factors that affect
environment that includes political, social, environmental, technological and legal factors.
Changing in business operations help in developing understanding market segment at global
level. Nature of business can be determined by providing various aspects that help in fulfilling
various aspects of consumers in the market.
Adopting changes that help in building market share in the future as technology changes
that provide an understanding of developing market and enhancing business operations.
Consumers demand and wants are changing at fast speed that evolve involvement of various
strategies for earning more profit. Development of business occur as consumers are satisfied with
services or products that is being sold to them. New business ideas come by doing market
research that help in evaluating various perspective for the future. Changes that have been
followed while providing various aspects that include changing pattern that will be followed in

the company for bringing enhancement in business (Kalibatiene and et. al., 2016). As changing
in needs and demand of consumers product and services gets obsolete from the easily this lead
to adopting new market trend that help in enhancing business for the future course of action.
Changing nature of business help in increasing productivity as well as profitability for the
future. Operational cost of business increases while adopting new technology in the organization
for effective use of resources. For becoming more competitive in the market businesses have to
focus on consumer as making base of it for increasing growth and productivity. Internal activities
influenced as selecting new technology as employees have to be trained according to it so that
help in achieving objectives of business. For making effective changes different processes
selected by business for providing effective hierarchical structure that enhance growth and
providing new management perspective. Continuous development in business provide efficient
use of resources for the future.
There are different changes that will be brought in business for bringing effective use of
technology that lead an emphasizing on evaluating different aspects in the future. Fluctuations
occur in business as developing needs of consumers that emphasize more on achieving growth
and productivity. There are external influences that affect business as providing various changes
and leading into the market for future (Burgstaller and et. al., 2017). As different sources of
supply and demand that sometimes creates growing in unemployment rates as well income level
of consumer. Growing forces that also enhance change in demand and economic perspective
sometimes lead in changing needs and wants for future growth. Therefore, dynamic and
changing nature of business provide above all perspective that help in meeting future trends.
Impact of CSR on social, cultural, economic and environmental issues
Corporate social responsibility is an approach that will be used by businesses for the
purpose of gaining positive impact on the economy and it does not work for earning profit. It
includes sustainability, ethics and social impact that have greater effect on business operations.
On the other hand, business ethics refers to norms, beliefs, policies and procedures that is being
followed in the company. Ethics play an important role in business for achieving organizational
objectives. CSR is having an impact on various factor that lead to affect business operations in
the future.
CSR provide transparency in culture of organization that is followed in evaluating
different changes that enhance business operations for the future. Fairness and equality is another