Business (Global Business Development, Globalisation and Ethics)

Internal and External Factors that Drive Change in a Global Environment

Change Management

Change management is the process businesses use to manage and control change within an organisation. Businesses change to remain competitive, efficient and profitable in a global environment.

PEST

External forces that drives changes: Political and legal, Economical, Social, Technological.

Internal Factors (Financial Resources)

Business with strong finances can expand and invest in technology, while businesses with limited finances may cut costs to survive. (Business may invest into new equipment after profitable period)

Internal Factors (Move to Online Store)

Businesses move online to reach more customers globally and remain competitive. (Retail businesses creating e-commerce websites)

Internal Factors (International Expansion)

Businesses expand overseas for growth when local markets become saturated. Businesses may need to change:

• marketing

• supply chains

• business structure