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The Changing Nature of Business

   

Added on  2020-10-22

6 Pages1404 Words452 Views
CONTEXT OF BUSINESS - 1
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Table of ContentsTable of Contents.............................................................................................................................2INTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1LO1 The changing nature of business and consideration of future of organisations within theglobal business environment........................................................................................................1LO2 The need for individuals and organisations in order to manage responsibly, sustainablyand behave ethically in relation to social, cultural, economic and environmental issues............2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................3
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INTRODUCTIONBusinesses entities carry numerous activities to generate a profit in huge amount. Stirna, &et.al. (2015). This report will lay emphasis on an understanding of dynamic changes inbusinesses and their consideration of future in global business environment. Also, the need fororganisations and individuals to manage sustainability and ethical relation to social, cultural,environmental and economic issues will be discussed in this report. MAIN BODYLO1 The changing nature of business and consideration of future of organisations within theglobal business environmentThe businesses are generally dynamic and kept on changing with time. Different businessuse different trends of business (Bendell, (2017). These trends are according to change in market,preferences of customers, and other factors which changes trends. Every company in order togain competitive advantage and to attract customers make changes according to prevailing trendin market. The nature of work environment also changes with emerging of new trends in team,individual as well as organisation. In global business environment, technology is developing continuously and for gainingcompetitive advantage businesses adopt these changes. Also, business entities are makingchanges in their working and business environment which leads to developing in effective andefficient manner. The latest technology provides an aid to businesses because this way they are performingwell and more efficiently. There is a huge change in businesses from previous operations ofbusiness when compared to current businesses they are found more efficient and effective. Like,earlier businesses use to put all their data on papers but now because of the technologies relevantdata of businesses can be updated in cloud software. This software can be accessible by the usersat their place of convenience. By analysing these drastic and quick changes in technologies it canbe predicted that in coming years business organisation would be more advanced and could beoperate their functions more efficiently. Along with change in technology businesses had adopted several other changes. Likechange in use of equipments, machineries, tools for controlling, monitoring and managingactivities of business. The present style of business is far better than traditional style ofbusinesses. Those businesses adopted these changes is able to manage their survival in global1
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