4.5 Driving Forces

How do Owners drive change?

they may initiate change while they pursue profits

How do Employees drive change?

they may instigate change by driving improvements in processes, product features etc.

How do Competitors drive change?

competitive environments may initiate change in a business as they compete for customers

How does Legislation drive change?

laws can be implemented that force a business to make changes to ensure they comply with the laws

How does Pursuit of Profit drive change?

business often makes changes to increase profits, if net profit figures are not at the desired level it can initiate change

How does Reduction of costs drive change?

change may be initiated by rising costs in the business or to reduce costs further

How does Globalisation drive change?

can drive change to ensure business remains competitive in market

How does Technology drive change?

advancements can drive change in a business as it can improve processes, communication, products, data analysis and efficiency

How does Societal Attitudes drive change?

the values, ideas, beliefs and expectations of members in society can change over time so businesses must adapt to maintain relevance to their customers

List Driving Forces (9)

owners, employees, competitors, legislation, pursuit of profits, reduction of costs, globalisation, technology, societal attitudes