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Successful Management

Successful Management

In today's competitive business climate, achieving long-term business success has become more difficult. For example, changes in technology cause the demise of technology manufacturers, and changes in the supply of oil and the resulting price of gasoline can have an impact on auto companies that focus on gas guzzlers.

For your current employer or any company for which you have knowledge, answer the following questions:

* What are two factors or forces external to the company that made them successful or was key to them being successful, now or in the past? These are meant to be big-picture forces affecting the overall economy or the industry as a whole (i.e., new regulations, major new competitor, new technology, etc.).
* What specific events could happen that could cause these two favorable factors to change, and therefore, negatively impact the company?
* How do you feel the company should respond if there is a negative impact on it?

Please list and cite all references.

Solution Preview

The company I work for makes plastic injection molded toys. There are two factors that led to an increase in the company sales. These were an increase in the income of people that led to an increase in the demand for toys and the second was an increase in the awareness for buying injection molded toys as these are relatively safer than other toys available. The injection molded toy industry was further aided by improved technology ...

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