Challenges to Business Organization: Corporate Strategy, Technology, Ethics, Workforce, Laws, and Politics

RESEARCH ESSAY
OUTLINE

Outline for “Challenges to business organization”
A) INTRODUCTION
The 21st century business world is dynamic and rightly stated to be the heart of
the revolutions. The interplay of the forces like the globalization, technological
advancements and the liberalisation of the markets have made the business
environment challenging (Patel, Pieper & Hair 2012). Some of the major challenges
faced are the corporate strategy, technological advancements, ethics and social
responsibility, workforce challenges, role of the laws and government and international
economic and political developments.
B) BODY
i. Corporate strategies must be carefully formulated to achieve the business goals.
a. The entity must scan the internal and external business environment on
regular basis.
b. With the changes in the business environment, the corporate strategies
must be amended to maintain the pace of business (Peng, 2016).
ii. As the whole world is interconnected via means of complex financial products and
business activities, political happenings at one place impact the business practices
at another place.
a. The recent political developments of Brexit and US China Trade War
have impacted the global business operations irrespective of country and
industry.
iii. An organisation must consistently embrace new technologies to maintain the
competitive advantage.