How should I response to number 1 and 2 using the Common Driving Forces list below?
1st: Opportunity for Expansion.
Should a business always expand if given the chance to do so?
Think of a company that recently added one or more new businesses to the organization.
Does the addition seem to be in line with the original mission, vision, and core competencies?
2nd: Driving Forces.
What are the two most relevant driving forces from "Common Driving Forces list below for a firm with which you are familiar? Use the same company from above.
Have these driving forces made the industry in which the firm operates more, or less, attractive?
Common Driving Forces
Changes in the long-term industry growth rate.
Emerging new Internet capabilities and applications.
Changes in who buys the product and how they use it.
Technological change and manufacturing process innovation.
Entry or exit of major firms.
Diffusion of technical know-how across more companieS and more countries.
Changes in cost and efficiency.
Growing buyer preferences (or differentiated products instead of a standardized commodity product or for a more standardized product instead of strongly differentiated products.
Regulatory influences and government policy changes.
Changing societal concerns, attitudes, and lifestyles. Thank you, I will be back!
I believe a business if given the opportunity to expand, then it should not pass it up. This is because of many reasons that are needed in consideration of becoming a larger company yet. Changes in cost efficiency are important. The CEO will need to decide if it will save the organization more money or not in the long run, and if so, then he or she should go this route. Product innovation is a consideration as well. If there is a way to make it better and more convenient for the consumer to use in their daily life, then it is worth it to go bigger for the firm itself. Regardless, the company will benefit from their decision, and will profit from it immensely over a period of months and years. In the end, the consumers will become loyal all the more, and people will want to ...
This solution focused in on the common driving forces for organizations.