No Marshmallows, Just Term Papers
1.1 Discussing the typical developments contemporary organization need to respond in Strategic change in an organisation.
Modern business world is changing fast. Every organization faces the change of the business environment. Success of the company largely depends on the tolerance level of change and swiftness of adapting the change. Most scholars believe “change is the one constant in businesses”. New initiatives project based working, technology improvements, staying ahead with the competition these things come together to dive ongoing change to the way we work.
The change management is the crucial issue of every business. To adapt change we have clarify the sources of the change that leads the business to change. The change comes from internal and external factors. Change creates both opportunities and threats. To better understand the considerable issues while examining the need to change, BPEST analysis gives a deep insight.
Figure: BPEST Analysis
Business: Different business policies, procedures of operation, theories of operation make the business changing. The business is the place where the various internal factors like employee, staff, salary or wages, plays significant role when change occur.
For example- HR theory, bussiness ideas etc.
Political: Political factors have both direct and indirect influence on business. Political unrest has indirect effect on business while legal and regulatory like elections, employment law, industry specific regulation, inter-country attitudes, war, terrorism, political trends, government leadership and structure directly influences the business.
For example- government rules to close the alcoho selling after 4:00am.
Economic: As business organization is a part of the whole economy of the country, it has a direct impact on the business organizations. Economic condition includes economic growth trend, economic condition (boom, recession), government spending level, disposable income, unemployment, exchange...