External/Internal Factors

Essay by BWMP May 2004

download word file, 5 pages 4.3

Rapid Change

Change in a growing business is inevitable. Changes must take place in many chapters of each business in order to preventing it from going under. Some of the most common areas of change happen with the internal process of day-to-day activities, marketing strategy, financial game plans and many more.

In order for companies to stay in business, they need to make all the necessary adjustments to the day-to-day activities within their organizations. As an example, new computer software might be in need which might change the way that say, the order entry is done. Another example might be the way that the purchasing department might select which vendors to use.

Another way that companies adapt to change is by modifying their marketing strategy, which could include the sales department as well. When a company starts to loose some of the sales, upper management is quick to look at the possibilities that might contribute to the problem.

In some cases there might be a need to bring in some more creative personnel to the team. The marketing executives also look at what changes need to be made when it comes to advertising. They look at the possibility that they need more marketing, not marketing to the right population or if the current marketing strategy is working or not.

The financial condition of a company is such a huge role that it requires a lot of focus. If the sales are down, the books will reflect that. If the expenses are down, the books will show that as well. This is probably where the most change will happen in a company because of the importance it plays. As discussed earlier, if a new computer system is needed, first the company needs to see if they can afford it. When...