Conestoga College Essay: Challenges to Business Organization Analysis

This essay, submitted by a student, examines the multifaceted challenges faced by modern business organizations. The essay begins by outlining the importance of business communication and its impact on various aspects such as brand management, customer relations, and human resourc...Read More

Running Head: CHALLENGES TO BUSINESS ORGANIZATION
CHALLENGES TO BUSINESS ORGANIZATION
Name of the Student
Name of the University
Author Note

1CHALLENGES TO BUSINESS ORGANIZATION

2CHALLENGES TO BUSINESS ORGANIZATION
Introduction
The main objective of this essay is to observe the business communication processes
that some of the most reputable organizations undertake around the world. With the help of
growing business communication, most of the organizations are expanding in different
markets around the world and thereby making the business environment further challenging.
It also owes a great deal to the factors of technological advancement, market liberalization
and globalization (Patel, Pieper & Hair 2012). The growth of Business communication is
important due to its relevance in the varied fields like brand management, customer relations,
marketing, customer behavior, public relation and so on. This essay also analyzes upon how
human resources creates a positive impact with respect to development of proper
communication in businesses. The challenges mentioned below have varied reasons and
situations that are studies with respect to global business culture, across the globe.
Discussion
The major challenges identified in the research essay as faced by the following are —
social and ethical responsibility, corporate strategy, workforce challenges, technological
advancements, and legislative and government roles besides international political and
economic developments.
 To achieve business goals, formulation of corporate strategies are essential that
ensure:
1. Regular scanning of the external as well as the internal environments of
business.
2. Businesses must amend corporate strategies to remain in a pace with the
constantly changing business environment (Peng, 2016).
 Interconnections across the world through the business activities and trade
practices besides the intricate financial products impact business practices of
one place at another:

3CHALLENGES TO BUSINESS ORGANIZATION
1. The current developments relating to the Trade War between Brexit and
China has created a substantial impact on the global businesses. This not
only affected the European nations but also those across the globe,
irrespective of the nation and type of industry (James, 2017).
2. The similar effects were seen as reflection in the US-China Trade War
where tariff, taxes, subsidies and price regulations by the developed
superpower like the United States (U. S.) affected the countries,
participating in the trade. This was due to protection of infant companies
in the U. S., however, that lead to the creation of deadweight loss and
import duties on China. As a result, there emerged a huge difference
between the prices paid by the American consumers and those received by
the Chinese sellers (Evans, 2019).
 Embracing new technologies in order to maintain the competitive advantage:
1. Availing the technological innovations is advancing towards a cost
effective and efficient mode of production. However, it leads to
challenges as they make the old products obsolete and inefficient with
time (Morrison, 2011). This also bears a huge loss to the company.
2. Implementation of the use of Green Technology, which reduces the
carbon emissions and pollution levels rests as another key challenge as it
is also very expensive.
 Wide spectrum of shareholders has resulted in the requirement of a transparent
financial reporting besides a corporate governance (Crane & Glozer, 2016) that
is efficient in nature besides the sustainable practices:
1. Compliance of the organization with the standards of relevant financial
reporting.
2. The increase in the demand for an ethical leadership and practices in
business due to corporate collapses (Voegtlin, Patzer &Scherer, 2012)
 Maintenance of a diverse, talented and loyal workforce is another challenge,
considering the employees as one of the crucial assets of the organization.
1. Compliance with both regional and international laws is highly essential
in the long term.
2. Following the government regulations in the domain of taxation besides
updating the businesses as per the changes directed.

4CHALLENGES TO BUSINESS ORGANIZATION
The critical accounting situations of extending and reframing the goals, based on
accountability and legitimacy by involving an uncountable of value for stakeholders can help
in readily engaging them into the processes of social accounting (Crane & Glozer, 2016).
Conclusion
This concludes that the modern developments in continuously undergoing change by
the feature of the forces that are external besides the numerous groups of stakeholders. The
important way to survive in the business for organizations is to incorporate the interests of the
stakeholders, devise and implement those policies based on the changes that undergo in the
business environment. This calls for a technique of adaptation, essential for the survival of
the organizations in the competitive market structure. The use of technologies and tools, like
digital media and new media to communicate with the consumers and create a competitive
environment is of value and importance in the recent trends. This enables to bring the market
value, necessary for the business before both — the consumers as well as the stakeholders.

5CHALLENGES TO BUSINESS ORGANIZATION
References
Crane, A., & Glozer, S. (2016). Researching corporate social responsibility communication:
Themes, opportunities and challenges. Journal of Management Studies, 53(7), 1223-
1252.
Evans, O. (2019). The effects of US-China trade war and Trumponomics.
James, H. (2017). Deglobalization as a Global Challenge.
Morrison, J. (2011). The global business environment: Meeting the challenges. UK:
Macmillan International Higher Education.
Patel, V. K., Pieper, T. M., & Hair Jr, J. F. (2012). The global family business: Challenges
and drivers for cross-border growth. Business Horizons, 55(3), 231-239.
Peng, M. W. (2016). Global business. USA: Cengage Learning.
Voegtlin, C., Patzer, M., & Scherer, A. G. (2012). Responsible leadership in global business:
A new approach to leadership and its multi-level outcomes. Journal of Business
Ethics, 105(1), 1-16.