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Competition and Change

My Distance Learning College

Description

The changing nature of the general business environment offers organizations both opportunities and threats. We can identify key drivers for specific organizations within this environment. The monitoring of the environment is a key activity for all businesses. We need to look at the competition and what is happening in the competitive environment, the environment that is closest to the organization and has the most immediate impact on it. Once we have analyzed the competitive environment, we need to develop strategies, and then formulate and implement actions to put the strategy into practice. This will require change, so we look briefly at some of the factors concerned with successful change in an organization.

Stakeholders are the customers, suppliers, employees, owners, shareholders, pressure and consumer groups, regulators, professional organizations, competitors and any individual or organization that has an interest in what an organization does and how it does it. Some of these groups, such as consumer and pressure groups, are part of what we term the business environment. Some stakeholders such as employees are part of the organization but, as customers, shareholders, members of pressure groups and members of professional organizations, they are also part of the competitive environment. So, not only are the boundaries between the business and competitive environment blurred, but these influential stakeholders also blur the boundaries between the organization and the competitive environment. Therefore, before we look in depth at the competitive environment and how the organization can respond to changes in it, we need to investigate stakeholders in more detail as they affect what the organization is and what it does, and how it responds to the opportunities and threats in the business and the competitive environment.

We usually view the organization as discrete and distinct from its environment. However, the precise boundaries of the organization flex and change at the interface between the organization and its environment. This occurs as the requirements of the organization, the interests of the people of influence in the organization and the shape of the environment changes. We use Porter's five forces model to analyze an organization's immediate environment, its industry, and the activities of the organization's competitors in the industry. We identify some responses the organization can make.

We look at the sources of environmental information. We need to select and use appropriate information from the vast amounts of available data. We analyze an organization's competitive and general environments, identify what we need to do with this information and see how the organization responds to subsequent changes. This leads into an overall discussion of the nature of change in an organization.

In the final section, we look at the way that business has been changing over recent years and identify some current trends that may provide direction for the future. In today's competitive world, the concept of competitive advantage needs to become an integral part of the culture of an organization; one that manifests itself in the structure and in all functions. Success is achieved by efficiency in all business functions, in good overall co-ordination within the organization and by effectiveness in achieving the mission and corporate objectives.

After participating in this course, you should be able to:

  • identify stakeholders, evaluate the impact of stakeholder power and identify areas of conflict
  • analyze Porter's five competitive forces for an organization in its industry
  • identify sources of environmental information appropriate for a range of organizations
  • conduct a full environmental analysis for any given organization
  • evaluate the environmental factors driving change
  • appraise why organizations need to manage change
  • describe some sources of resistance to change
  • summarize the key trends in the business world and their implications for an organization.


Outcomes

Competition and Change Certificate

Competition and Change (Byte Size) Certificate issued by My Distance Learning College, entitling you to use the letters SAC Cert after your name.


Assessment

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

course quick facts
course code DED9385
cost $93.00
estimated time to
complete course
20 Hours
course materials
available
365 Days