CAPS BS 11 TERM 1 WEEK 3 Adapting to Challenges of the Business Environments

TOPIC – Adapting to challenges of the business environments

How a business constantly needs to adapt to the challenges of the micro (internal), market and macro business environments
• Ways in which a business can adapt to challenges of the macro environment, and whether this is to the benefit of the business
— Information management, strategic responses, mergers, takeovers, acquisitions and alliances, organisation design and flexibility, direct influence of the environment and social responsibility
— Lobbying, networking and power relations
o Lobbying e.g. hedging against inflation, bargaining sessions between management and unions, influencing supervisory body/regulators, etc.
o Networking, e.g. finding new customers etc.
o Power relationships e.g. strategic alliance agreements,
persuasion of large investors, company representatives’
influence, etc.