An report for the subject Contemporary Developments in Business and Essay

An report for the subject Contemporary Developments in Business and Management - Essay Example The problem does not finish here. In fact, it emanates from here. There is an array of internal and external influences cast upon any contemporary business organization. Economic conditions fluctuate, systems and processes undergo changes, competitors launch fresh assaults and shareholders pressurize. But the organization explores specific ways to deal with all these crests and troughs. In fact, organizations develop strategic approaches to adapt and flourish with the constantly changing internal and external environment. There are various external and internal factors that influence the functioning of a business enterprise. Researches and studies have brought forth the following major parameters that affect the business process: These are broad outlines. Different factors interact with one another to give rise to a complicated business management problem. For instance, analysis of contemporary organizational and people management issues in the context of change, innovations and imitations brings forth issues of leadership style, facilitation of creativity and the systemic management of complex change. Similarly, the role of technology has to be analyzed as both a source and enabler of change. All this implies that different factors affect the overall business environment. Therefore, it becomes important to analyze them both from a larger and a specific perspective before adopting a new approach to deal with a situation. The tasks of crafting, implementing and executing company strategies are the heart and soul of a business enterprise. Therefore it is imperative to strategize keeping into consideration the gamut of external and internal factors that affect the business on the whole. Successful companies recognize and respond profitably to all these factors, which actually are a host of unmet needs and trends. These companies realize that the business environment presents a never-ending series of opportunities and threats. Consequently, the