Global Business Environment Project: Photographic Industry Analysis

This project analyzes the global business environment, specifically focusing on the photographic industry and its evolution. It examines how external factors, such as digital technology and changing consumer preferences, have reshaped the industry. The project highlights the decline of traditional film printing and the rise of digital photography, using Jessops as a case study to illustrate how companies respond to these changes. It explores Jessops' strategies, including adapting to Waste Electrical and Electronic Equipment Directive regulations and offering services like photo printing from social media. Furthermore, the project discusses change management models like Kotter's 8-step model, emphasizing their role in helping businesses navigate transformations. The analysis covers key drivers of change (customers, competitors, investors, technology, and government) and references relevant literature to support its findings.

Global Business Environment -
(Project - 1)

Table of Contents
Global business environment...........................................................................................................1
REFERENCES................................................................................................................................3

Global business environment
The global business environment is being specifically considered as a environment
consist of a range of countries where companies perform their operations (Apăvăloaie, 2014). It
has been found that, their (business organisations) decisions and actions take place in a dynamic
and often turbulent environment, within which many different external factors impact upon their
performance. In present context, Photographic industry has been taken for conducting this report
as it has changed radically. It is being analysed that,
business organisations under this industry has kept their focus over producing prints of a shot
taken in camera. Earlier, every single shot which was taken of a reel of film was printed without
keeping focus over quality.
Since, technology brought many changes and allowed consumers to purchase high profile digital
cameras, the traditional film printing in the UK is getting declined around 30% every year in
modern era.
Along with this, changes came in front in this industry because of a range of change
drivers and one of the main in this context i.e. digital technology which basically reshaped the
whole world considering new technology. Here, photographic industry has got changed the most
because of digital tech (Axelrod and VanDeveer, 2014). Companies like Jessops which is a
market leader in photographic industry from last 75 years and has been developing plans and
ideas from a long time and responded to change in positive manner. This could be understood
with an example where Jessops responded to Waste Electrical and Electronic Equipment
Directive regulations through contributing
business makes on sales. Basically what Jessops’ was, that sales
of a national fund was being offered in order to assist local councils so that to improve overall
profit margins that were going down every year. Still it can be said that, due to low performance
because of change in need of customers, Jessops has kept its focus on working
margins which is linked to different services like photo and imaging remained stable in order
to improve overall awareness related to WEEE regulations.
On the other hand, specific drivers of change that are coming under external environment
are : customers, competitors, investors, technology and government where most of companies in
photographic industry are using a range of change theories like Kotter’s 8-step change model that
are effectively helping in adopting right change within the industry depending upon overall
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changes and so on (Fundamental Change Management Models, 2019). It consist of 8 different
steps and these are:
 Create a sense of urgency.
 Build a strong coalition.
 Form a strategic vision.
 Get everyone’s buy-in.
 Enable action by removing barriers.
 Generate short-term wins.
 Sustain acceleration.
 Institute change.
These are the specific that could help business organisations in photographic industry
through identifying end goal, employing individual's engagement. On the other hand, executing
overall changes at one place directly help companies like Jessops in photographic industry (Belás
and et. al., 2014). This can be understood with a good example where, Jessops which is coming
under photographic industry, came up with technological solutions in response consumer needs
as they are now able to print images taken from social media or other websites.
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REFERENCES
Books and Journals
Apăvăloaie, E. I., 2014. The impact of the internet on the business environment. Procedia
Economics and finance. 15. pp.951-958.
Axelrod, R. S. and VanDeveer, S. D. eds., 2014. The global environment: institutions, law, and
policy. CQ Press.
Belás, J. and et. al., 2014. Significant attributes of the business environment in small and
meduim-sized enterprises. Economics & Sociology. 7(3). p.22.
Online
Fundamental Change Management Models. 2019. [Online]. Available through:
<https://www.lucidchart.com/blog/four-fundamental-change-management-models>.
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