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Understanding of Dynamic Changes PDF

   

Added on  2020-12-18

8 Pages2014 Words236 Views
Context to Business

Table of ContentsTable of Contents.............................................................................................................................2INTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1Understanding dynamics and changing nature of business in global business environment......1LO 2.................................................................................................................................................22. Identifying need of individuals and organization so as to manage responsibilities andbehaving ethically in context to social, cultural, economical and environmental issues.............2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONBusiness is an entity that carries out several activities in order top generate a hugeamount of profits from it. In the present world, due to numerous technological changes, the wayof performing businesses has changes drastically due to globalisation. The present essay showsbrief understanding of dynamic changes and need of business and an individual to fulfill theirresponsibility.LO 1Understanding dynamics and changing nature of business in global business environmentPOLITICALFACTORLEGALFACTORENVIRONMENTALFACTORSOCIALFACTORTECHNOLOGICALFACTORECONOMICFACTORPoliticalchanges,instability alsoaffects thebusiness sandits operation s.in order tadjust with thechangecompaniesneeds to bedynamic andmakenecessarychange so tatthey can easilywork wit theflow and leadsto smoothLegal factorinclude thosefactors whichare thecompulsoryand mandatoryfor thecompany tofollowCharumathi,B., & Ramesh,L. (2015). Thcompanies arerequired tofollow theseset practices inorder toeliminate thegovernmentSustainabilityis an essentialfactor of eachbusiness unit.All the firmsare being runwith a majorpurpose ofmaintainingfor a longperiod of time.In order tomaintain thesustainabilityin thebusiness, anorganisationneeds toanalyse all thebusinessowners andmanagers didnit use anytools ortechniques formonitoring,controllingand managingvariousbusinessactivities. Butin presenttime, a rangeof tools andtechniqueshave beendevelopedwith the helpThetechnology isdeveloping atits highestspeed Cramer,J. (2017). Forthe purpose ofgainingcompetitiveadvantages,the business isneeded tomake effectiveresearch overthe changesthat isoccurring inthe businessenvironmentFurthermore, in order tomanage all theactivities ofthe businessand effectivelycompleting theresponsibilitytowards thesociety andculture, acompanyneeds toemployseveralindividual whocan analysetheresponsibility1

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