Changing Business Environment

Businesses today are different from the past. People’s attitudes towards corporations have dramatically changed over the years. The industrial revolution brought in mass production in factories leading to lowering in prices of finished goods. On the other hand, this also brought about harsh and dangerous working conditions and exploitation of young women and children. This era was also characterized by increasing differences in distribution of wealth. This era was also characterized by increasing differences in distribution of wealth. The Second World War, role of United states in the Vietnam War, 1973 Middle East war brought about different facets of the people's attitudes towards public and private institutions from high to low.

Technological Changes

The impact of technological changes over the years has been significant in bringing about evolutionary changes in communication, infrastructure and the way people around the world communicate. This has been an important determinant in creating a “Global Village” and a new class of knowledgeable consumers. Information weather good or bad are almost instantly available across the globe over the internet. No doubt corporations have benefited from new emerging technologies. But it also requires companies to be more aware of new threats that come along with these changes.

Globalization

Coupled with changes in technologies, globalization has drastically changed the way companies do business. Today, firms concentrate on competence and competitive advantage. Organizational structures are generally flat as compared to a high degree of vertical integration in the past like Ford and GM. Competition is everywhere and companies are actively on the search for customers, maintaining present customers and enhancing customer experience.

The Media

Media has always played an important role in shaping corporate image among the public. Whether it's the newspaper, television, radio or internet media is everywhere and through these channels makes information available globally in a short period of time. Communicating properly through the media can enhance a company's identity and increase confidence among the public. There is a need for higher corporate social responsibility and involvement in environmental and community services to improve a firm’s image.

References:

http://highered.mcgraw-hill.com/sites/0072834943/student_view0/ebook/chapter1/chbody0/the_changing_business_environment.html

http://www2.co-operative.com/CSR2004/22_case_study_business_environ.asp