Real world business issues Assignment Example | Topics and Well Written Essays - 2000 words

Real world business issues - Assignment Example It is vital for business manager to anticipate and identify them so that they can be exploited as new opportunities of growth. Thus, business managers are important linkages that integrate external opportunities and organizational growth by identifying themes and concerns for the benefit of the organizations. The paper would be discussing four major themes that have emerged as critical external factors which considerably influence the productive outcome of the firms and help it to maintain market leverage. The characteristics of emerging external and unstructured issues are essential paradigms that need to be identified and evaluated for evolving effective strategies so that issues can be resolved early and turn impending failure into stepping-stones of success. The tangible and intangible elements of external environment often create hassles that adversely impact organizational growth. They become major contributor for its deteriorating performance. Slater and Narver (1995) believe that firms which constantly make efforts to acquire, process, and circulate information across the organization about markets, products, technologies, and business processes etc., tend to succeed in anticipating changes and meeting them with creative and flexible approach. Consequently, managerial leadership of business managers become key enabling element that helps firms to maintain its leverage in the market against all odds. The following four themes are critical factors that influence organizational p erformance. Globalization has emerged as one of the most important external issues that has long term cascading impact on the organizational processes and performance. Globalization can be broadly defined as ‘the diffusion of goods, services, capital, technology, and people (workers) across national borders’ (Sirgy et al., 2004: 253). Technology has been major