Critical Success Factors for Business

This assignment delves into the concept of critical success factors (CSFs) within a business context. It requires an analysis of various CSFs across different areas, including corporate social responsibility (CSR), business model dynamics, and technology adoption (e.g., mobile learning and big data). The task involves examining the relevance of these CSFs for both large firms and small and medium-sized enterprises (SMEs).

Critical Issues In Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................2
TASK 3............................................................................................................................................4
TASK 4............................................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Economic changes in any country can make an huge impact over the business enterprises
running their business in that country and other countries which are linked with it. United
Kingdom was following the rules and regulations of European Union but UK was not satisfied
with these rules and policies and thus they wanted to make amendments in their rules but EU
refused to accept this proposal and thus it decided that it will be separated from EU the reasons
why UK wanted to leave were issues relating to voting group the new and the old generations
gap. Differences in sovereignty UK does not want anyone to interface from outside party There
were significant increase of migration from EU countries false and misleading issues were
spreading about revenues and budget There were general issues about the nation and pride of
people (Ajmal, Helo and Kekäle, 2010). They also argued on the branding that leave brand was
more effective and efficient than leave brand Decisions were taken not to impose any restriction
on EU migrants.
TASK 1
Brexit is a short way of saying UK leaving EU. Brexit has evolved by merging the words Britain
and exit.
CAUSES OF UK'S BREXIT DECISIONS
 Sovereignty: The governing body has full right to take decisions and no one can interfare
from outside party and thus the UK party said that UK decisions should be taken in UK
only and not to have any interference from outside.
 Immigration: It means persons leaving their place and moving to another place and the
main cause of leaving was that they were offered a better chance in UK to regain control
over immigration and its own borders.
Differential voting pattern among young and elder people
 Order versus openness can states that there is a strong correlation between voters support
for the death penalty and their choices to vote leave (Brinkmann, 2014). Order versus
openness is emerging as a key political issue overshadowing the left right economic
dimensions.
 General identity of people was emerging a serious issue as it was challenging task to
identify politics that can decade for long run.
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 There was rumours spread all around about misleading information was passed about the
revenues and budget .
 Argument on leave brand was good more efficient and effective than remain brand and
on the basis of presentation it deserve the kicking it got.
 Prospect theory it says that the people who have left want to gamble to break even.
people have lost out of globalization and the people said they had things little to do so
 Decisions were taken not to impose any migration decision on people (DeTienne, 2010).
TASK 2
Environment and predicting the effects of decisions such as Brexit on businesses: Businesses
environment more effective and evaluate tools used for change in business environments .B
usiness environment analysis is set of various tools and techniques which are used in shareholder
analysis can better structures and polices in your company and the process also find a new way
to reach important objects and goals.
Environment analysis basically internally business factors analysis like objective,
mission, strategies, vision,tactics company decided to how will implements strategies and the
step will help you move forward and decided goals will help you reach the mission of a
company. Business environments forecasting methods that the economic technological,social
change are part of company (Doz, 2011). Business forecasting method qualitative and
quantitative techniques based primary and analysis data to related strategies techniques several
are business techniques
Qualitative forecasting techniques and tools:
 Sales forces complex: In this method sales force a complex method,a predict of sales is
discovered by combine the sales predictions of experienced sales people because they are
constant contract with consumers and sales people to accurately forecasting sales.
 Customer evaluates: In this method consumer to sales forces complex to consumers that
expect and consumers expect to buy and group and individual customers to estimated that
excavation to get total cost (Krutz and Vines, 2010).
 Administration opinion: In this method to analysis several managers forecasting based on
excavation opinion to method advantages analysis simplicity low cost and disadvantages
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factors to forecasting necessary based on facts and administration opinion method is
process to simple low cost analysis to necessaries based on facts
 Anticipate Survey : this methods related to the telephone interview, personal interview
mailed questionnaire,used in anticipate survey and forecast survey intension (Malhotra,
and Temponi, 2010). Anticipate survey used in form of sampling size to cover a business
employee survey this survey to presents a intended some large population to target a
basic related employee in this organisation.
Quantitative forecasting techniques:
Qualitative forecasting techniques process in this techniques subjective to involves
projecting historical data and to analysis associated methods .Quantitative used by business
analysts are the informative method that attempts to two or more variables and the time series
method that uses ago direction to make forecasting (Oliveira and Martins, 2010). There various
business trends analysis such as seasonal set, vector algebra, life cycle method, quality of work
and graphical analysis.
 Time series analysis :In this analysis is future demand forecasting and what is happen in
the past to focus on demand analysis and fours on idea time series fit a trend and exploit
Trent line into the future line past based to identify in past (Russo and Perrini, 2010).in
this method to cover a time series to focus future and past coving a treats in time series
techniques to historical data based information available best significant amount.
 Fixation mode link : regression mode ling is known also called mathematical forecasting
techniques. In this techniques to calculate to dive equation almost require to use of a
computer (Spenceley, 2012). Mathematical data to collect a variables dependent and
independent data to determine future values and forecast based predicted value analysis.
 Econometric modelling: In this method to best forecasting method of worldly. It is called
general attempt to mathematical modal. Generally all organisation to developing own
econometric model. The model is very complex and expensive to calculate various
equation.
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 Environment scanning: In this method to scanning to various environments factors to
employee by organisation monitors and gathering data and information about swot
analysis (Yeoh and Koronios, 2010). To business environments to related opportunities
threats that there business.
 Forecasting change for predicative change decision making: Brexit change external and
internal factors to response the focus on specially on those change occur in Brexit internal
effect including structure,people,strategies, policies,process change that effectively.
 Structures change: structural change made to effective external and internal is typically
affect to how run organisation usually make the need for structural change include
mergers and acquisitions, in the market and process or policy changes (Cavalcante,
Kesting and Ulhøi, 2011).
 Strategic change: strategic change is the overall change Brexit to change a goals
objects,purpose strategy or mission organisation to significant demand to change it must
fundamental approach to business analysis. strategies change to things product and
services that offers the target markets segments it trial to reach a Brexit distributes to
product services quality position of global economy (Cochrane, 2012). Brexit
manufactures distributes and other needs to effect on strategic change.
 People change: people change is also directed toward improving employee
skills,personality developments,norms, behaviours loyalty of organisation change. change
on subordinates relationship to improve behaviours change in the organisational.
 External effective to decision such a Brexit : External effect to various change to the
governments policies tax related issues,and social political,to related markets reach
change to product and services keep up new technological or product from competitors.
In this factor to change various market related environments to remove error (Dedrick,
2010).
TASK 3
Strategic Crisis management:
Crisis is a situation which an organisation has to face at least one in whole of its life. Crisis is
like when something unknown and unthinkable happen and affect the enterprise at large. Crisis
can be happen when the competitor of the enterprise do some change in its operations or launch a
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new product and when the government of the country introduce a new policy (Ding, 2010).
Every enterprise should do study that they can come over the effects of the crisis or hoe they can
recover loss which occur to the enterprise due to the crisis.
Theories of Strategic Crisis management
Structural functions system theory: To overcome from the effect of the crisis it is a theory
adopted by many enterprise that is structural function system theory under this the enterprise do
the open and transparent communication with all the members of the enterprise who are dealing
with the effects of the crisis (Doom, Milis, Poelmans and Bloemen, 2010). Making a plan to
overcome with the effects of the crisis, under the plan responsibility is assigned to each and
every individual that who will give answers to the questions asked and responsibility is equally
divided among the all individuals of the enterprise.
 Diffusion of innovation :Involve your stakeholders also while making decision or make a
plan how to overcome from the affects of the crisis will definitely boost the morale of the
stakeholders. Each and every person's input is very valuable while making a plan for
crisis (Kaisler and et. al., 2013). Transparent and open communication will also boost the
morale of the employees and input from every person will help in making a plan which is
more useful and will help the firm from overcoming or reduce the effects of the crisis.
 Unequal human capital theory: This theory of crisis management said that not treating all
the employees of the organisations fairly or treat some employees more fairly than others
is one of the main reason of a crisis happening. Under this when the crisis happen the
people who are well served by the organisations will support the enterpriser in
overcoming the situation of crisis while the people or employees who are treated unfairly
by the enterprise doesn't give full support to the enterprise (Khurana, 2010). So to avoid
the situation of crisis the enterprise should treat all of its employees in an equally and
fairly manner otherwise when the crisis happen than there are chances that the bad
situation can be convert into worse. The entity should do the following things during and
after an crisis
 Have a plan: Having a plan is the first and the foremost thing that an organisation should
do after the crisis. Make a plan with clear objectives is the main thing which an
organisation should do (Manville and et. al.,2012). The plan should include all written
actions and plans which the enterprise will do to overcome with the effects of the crisis.
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 Identify a spoke person: When a lot of customers or stake holders are a part of the
enterprise then the situation of the crisis will affect the media and than in that case it is
the duty of the enterprise to face all the media and give answer to their questions so in
that case there should be a spoke person who can give the answer to the media and also
tell their customers that what they will do now (Nordin and Kowalkowski, 2010).
 Be honest and open : Nothing can generate better results other than be transparent and
honest communication with the media. So it is the responsibility of the enterprise the
communication should be honest,open and should be transparent also. Because the false
commitment from the enterprise can harm its image and goodwill.
 Keep employees informed: The taskforce of the enterprise is the one who help the
enterprise in overcoming with the effects of the crisis so the task forced of the enterprise
should be informed all the time that what are the enterprise policy or what the enterprise
's main objective or what the enterprise wants to achieve.
 Communication with customers and suppliers: The customers and suppliers also help the
enterprise in overcoming with the effects of the crisis so it is the duty of the enterprise to
inform there suppliers and customers to tell what they have to do or what is there part of
responsibility.
 Update early and often: After the enterprise is ready for making a plan for crisis
management it is proof better for the enterprise to update it before getting rumours filled
it. In today's world the internet is there so the enterprise can update its plan with the help
of it.
 Don't forget social media: Media plays a big role during the crisis management so don't
forget to inform the media about all the activities which the enterprise has plan to done
for control crisis (Saunders, 2011). Informing the media will help the enterprise in well
communicating with its Customers and its stakeholders.
TASK 4
Leadership Challenges
1. Brexit: The term Brexit means when there is an economic change occur in one country and
that economic change affect the activities of other country.. This is one of the leadership
challenge that a leader has to face while doing the activities of the enterprise. When an enterprise
do the international business than the leader has to face many challenger and Brexit is one out of
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them. Suppose an enterprise do the business having taskforce from various countries so if a
major change occur in the in any country from where the taskforce are than this will affect the
activities of the enterprise a lot.
So it is possible that leader can face a problem because of this so it is the responsibility of
the leader to adopt a positive approach to reduce the effects of the Brexit in away that it does not
affect the activities of the enterprise (Tidström and Hagberg-Andersson, 2012). Because of
Brexit it is possible that the people of that country will to that country and can leave the
organisation so it can serve a challenge to the leader so it is the responsibility of the leader to
make the decisions or to adopt a positive approach which stop the employees not to leave the
firm.
2. Inspiring others:Inspiring the employees of the enterprise is one of the most leadership
challenge. It is the duty or work of a leader to inspire the task force for doing work or to ensure
that they are satisfy with the current working environment of enterprise and with their jobs also.
To inspire the employees in a way that they can do the best of their jobs and can proof that they
are the productive employees of the enterprise is one of the great leadership challenge. It is a
leader's work to motivate the employees and to inspire them for their work and for their jobs.
3. Developing Managerial effectiveness:It is one of the main challenge of Leadership , time
management,improve decision making of employees and many other come under the developing
managerial effectiveness. So the leader of the enterprise should adopt a technique to develop
these qualities in among the employees of the enterprise because this all will help the enterprise
in achieving its objectives more easily and effectively.
So the leader should provide proper training to its team members in building following
qualities like time management and effective decision making. The team members should have
the ability to take a effective decision in the absence of their team leader,this quality of team
leaders will save the time of the enterprise and the operations of the enterprise will done at a
faster speed without any delay.
4. Developing Employees :Developing employees or skills of the employees is one of the
leadership challenge. It is the responsibility of the leader of the enterprise to provide proper
training and prepare development plans for the employees of the organisation because this will
enhance the qualities of the task force and than it will directly help the enterprise in achieving its
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objectives like growth and many more. It is the duty of the leader to proper mentoring and
coaching to its employees.
5. Guiding change:Guiding change means implement the programme of change among
employees and prepare the employees of the enterprise to accept the change. When a change is to
be implemented in an enterprise there are many employees who resist the change or cannot
accept the change because of the fear of unknown and many other fear so it is the foremost duty
of a leader to prepare the members of his team and guiding them in a way to accept the changes.
The team members' ability to accept the change will help the organisation in achieving the
objectives at the same time will in the growth of the employees.
6. Leading a team: Leading a team means making a team in which all team members support
each other. Making a team or building a supportive team is one of the great challenge of a
leader. It is a foremost duty of a leader to teach his team members how to behave while doing
work in a team. The team members should be teach in a way that they can be able to support
their team members not work in against of them. The members of team should be like supportive
this will motivate all the team members while doing a task on the same hand will enhance the
morale of the team members.
7. Managing internal stakeholders and politics: Leadership challenge also include how to manage
the internal relationship of the organisations with other departments of the enterprise. It is a
responsibility of a leader to build a positive image of his team members before the other
members of the enterprise and also managing the relations with the other members or
departments of the enterprise.
CONCLUSION
Brexit have been a importantly best part as the commitment of the business community .
Confronting the challenges the situations is presenting and the community is ready to chase the
challenges ahead and grab upcoming opportunities. They are hoping to guide the direction took
due to the negotiations that see the best happening deal for the complete economy, as the six
principles have been laid out to guide the UK-EU negotiations. The complications of the
situation is visible in the deep collaboration between business and government which is vital in
helping shape the nation's economic relationships in future. Government should reach out vaster
than they used to ever before the UK's business community, as the companies of all sector and
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sizes are vitally situated in all parts of UK. Government shall step ahead with ambitions so that
to put the UK back in front after UK leaves the EU.
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