Question

There are five (5)
specific forces that are acting as stimulants for change, state and explain them with relevant examples

Answer 1

Answer:

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Answer 2

Organization as a organization relies on multiple inter-dependencies that affect its day-to-day activities, strategic decisions and potential action plans to effectively address competitive challenges. Such considerations may both be internal and external and assess the readiness and preparedness of an company for change.

Explanation:

1. Social: These factors concentrate on the social environment and detect new trends. This helps a seller understand the needs and desires of its customers. Factors include changing demographic families, rates of employment, cultural patterns, shifts in attitudes and lifestyle changes. An organizational change in demography can involve a  change in culture. For example, Avon developed and established its business with the stay-at-home wife and mother as its primary employee. Avon needed to change tactics to try new ways of bringing their goods to their clients as more women joined the workplace with 9 to 5 positions.
2. Political: This determines to what extent government &  government policy can affect an organisation/a particular industry. These would include policy and stability, as well as trade, fiscal  and tax policies. For example, govt restrictions can  force change onto organisations. This could be be say a change in minimum wage(s) for workers, or rules & restrictions governing fair competition in business.
3. Economic: Such factors affect the economy as well as its performance, which in effect influences the company directly and its productivity. That include interest rates, jobs or unemployment rates, costs of raw materials and exchange rates. forexample, During the 2008 recession, Companies such as  Lego, who experienced stagnant US sales at the time, took the opportunity to establish their markets in Asia & Europe  as survival implied adapting to change.
4. Technological: Such forces take account of the pace of technical advancement and growth in a sector or industry. Factors could comprise changes in  automation, mobile technology or digital,  research & development. For example,  As consumers stopped renting videos to experience cheaper, more accessible subscription channels like Netflix, companies need to change to incorporate emerging technology or bear the consequences.
5. Environment/Legal: These forces relate to the impact  of the surrounding environment & the effect of ecological aspects. With the increase  in significance  of CSR (Corporate Sustainability Responsibility), this element is becoming increasingly important. Factors comprise climate, carbon footprint, recycling procedures, sustainability, & waste disposal. In the jurisdiction in which they exists, an entity needs to recognize what is lawful and authorized. They will need to be informed of any regulatory developments and their effects on company activities. Factors comprise consumer law, employment legislation, international& trade regulation & restrictions, & healthy & safety

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