This assignment provides an overview of contemporary development in business and management. Nowadays, the interface of the external and internal environments is of high importance. Companies must address issues in internal and external business environments. However, most organizations have more influence on the internal environment than the external environment. Businesses encounter further challenges in having to adjust to customer needs. Managers must develop practical business development models to guide all their operations and relations within the business environment. This, therefore, starts with building a robust internal structure to deal with issues of the labor market. Lastly, the internal environment must consist of a strong structure and culture, human relations, policies and procedures, skills, and experiences of the staff.
contemporary development in business and management
STRUCTURING BUSINESS DEVELOPMENT MODELS
Depending on the goals and objectives of an organization, business development models vary. Firstly, we will discuss the seller-doer model, where the person making the sale is also the person doing the client work. It helps in building familiarity and trust between clients and organizations for significant development in business. The second model is the traditional seller. Here, a salesperson is responsible for generating and closing the sale. It offers the advantage of having dedicated roles that assure focused and uninterrupted effort. It is essential for organizations to develop models that ensure a balance of influence in the internal and external business environments.
structuring business development models
RELATIONSHIP BETWEEN ENVIRONMENT AND BUSINESS
The internal and external business environments relate to businesses in a ‘give and take’ kind of relationship. Additionally, the company receives inputs, information, and technology from the environment and gives it back in the form of goods and services. The best developments in business, therefore, occur by harmonizing the business and the environment. Also, the environment must be in agreement with business inputs, which requires firms to adapt to the environmental requirements. In some cases, companies have to adjust and their operations or change their entire business development models. Finally, organizations have to look after the interest of stakeholders like shareholders, consumers, workers, and suppliers.
relationship between environment and business
Additional attachments
>> Download
