Respond to Change in a Business Environment

Added on - 17 Mar 2021

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Responding to the Changing Business EnvironmentNameDaniel PlescaUnit 1Responding to the Changing Business EnvironmentWord count2000Date23-11-2020CONTENTSS. No.DescriptionPage No1.Evaluate and Analyse the factors that influence business and the responsesthat can be deployed to manage these factors.1.1: Describe the differences between the macro and micro environments and explainthe various approaches used by business managers/analysts to understand them (e.g. -PESTEL and SWOT analysis). 31.2: Using a case example or scenario, identify where business performance could bepositively or negatively affected by external factors and trends. 41.3: Recommend responses to external factors and trends. 52.Appreciate how an integrated approach to understanding the business contextand decision making can support business development.Your NameAssignment1
2.1: Using a case example, evaluate the role played by management in responding to achanging business environment. 62.2: Using your case example, Identify and prioritise organisational changes that wouldexploit positive or counteract negative business environmental factors and trends.62.3: Explain the potential impact of responding to business environmental factors andtrends.73.Investigate the changing relationship between the private and public sector.3.1: Explain changes in the relationship between business, government and the publicsector. 83.2: Use scenarios and models to illustrate changes in relationships. 93.3: Identify opportunities that may arise due to changes in relationships. 10Your NameAssignment2
1.Evaluate and Analyse the factors that influence business and theresponses that can be deployed to manage these factors.1.1: Describe the differences between the macro and micro environmentsand explain the various approaches used by business managers/analyststo understand them (e.g. - PESTEL and SWOT analysis).The simplest way present in the specialized literature that leads the scanning ofthe environment is through the SWOT analysis which for the internal environmenttargets the strengths and weaknesses, and for the external environment theopportunities and threats.The scanning of the external business environment represents precisely thecorrection of the information that would allow the realization of some predictionsof the evolution of the environment that are used in the strategic managementactivities.An organization can relate to 2 general types of environments:• internal - a specific part of the SWOT analysis (Strengths, Weaknesses,Opportunities, Threats) is specific to him• distant external (macro-environment) - a specific part of the SWOT analysis andthe PEST analysis (Political, Economic, Social, Technological) is specific to it.The internal environment of the organization includes the human component ofthe organization, the functional component and the organizational workinggroups, the component of the organizational level:The external environment of the enterprise means all its external factors, factorswhose existence is likely to be influenced by its behavior and performance,affecting it in one way or another.The analysis of the competitive context (micro-environment) is useful inassessing the opportunities and threats generated by those elements(individuals, groups or organizations) that directly influence the enterprise, or canbe significantly influenced by it.The study of the competitive context (macro-environment) of the enterpriseallows to exceed the horizon of the competitive environment because it analyzesa series of external factors that uniformly affect a large number of businesssystems. These factors, which at first sight seem very distant and withoutrepercussions on the future of the enterprise, actually have an indirect influenceon it, while the reverse influence is limited.The analysis of the environment of an organization is performed when it isdesired to know the degree of feasibility of the respective business.Your NameAssignment3
There are a number of generic business techniques that a business analyst willuse when facilitating business changes. Thus, one of the most importantbusiness analysis techniques is PESTLE.This technique is used to perform an analysis of the external environment byexamining the many different external factors that affect an organization.The six attributes of PESTLE are:Political (current and potential influences on political pressures);Economic (local, national and global economic impact);Sociological (the ways in which a society can affect an organization);Technological (the effect of new and emerging technologies);Legal (effect of national and world law);Environmental (local, national and global environmental issues).1.2: Using a case example or scenario, identify where businessperformance could be positively or negatively affected by external factorsand trends.The activity of any business firm is directly dependent on the environment inwhich it operates - both through controllable elements and those with indirectinfluence. In addition, certain components of the business environment createinstability, increase business risks and diminish entrepreneurs' confidence in theirability to survive.In the external composition, the business environment of the enterprise includesparticipants and factors outside the enterprise grouped in two categories: factorsthat have direct links with the company and direct influences - suppliers,intermediaries, consumers, competitors, public institutions, the general public;factors that indirectly influence the activity of the unit - demographic, economic,technical-scientific, cultural, institutional, natural and other factors.Like other changes in the macro-environment, scientific and technologicaladvances can revolutionize the work in the field in which they take place. Forexample, the mechanical clock made regular working hours possible. Theinvention of the locomotive and the railroads, as well as the mass production ofautomobiles, changed the way people thought about distance, the words nearand far took on a new meaning. Television has changed the way people thinkabout news and entertainment.Your NameAssignment4
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