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How business adjusts (fails to adjust) to the change in its external environment. - Essay Example

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How business adjusts (fails to adjust) to the change in its external environment.

The main objective of this study is to understand how organizations adjust in change, more specifically a change coming from the external business environment (Kazmi, 2008). Introduction It has been seen that entrepreneurs operate with respect to the environment in which they are established. There is a significant relationship which businesses have with their respective external environment (Chidi et al., 2011). Though environment brings opportunities for the business like growth opportunity or expansion opportunity, but there are certain threats too like competition or rivalry. Environment has three major components including globalization, market and competitors which can change rapidly or be rigid for a longer aspect of time (Adekola & Sergi, 2007). It all depends on how the market evolves and how businesses compel in the present environment situation. Hence the progress of entrepreneurs depends on two things, first how much they accept the change from environment components, and second how quickly they adjust to that change (Chidi et al., 2011). Interaction is very important in this respect as it sets the ground for developing a positive relationship between the entrepreneur and its environment (Chidi et al., 2011). ...Show more

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Company based report [Instructor Name] Company Based Report Abstract In businesses there is a probable chance that environments change, more specifically the external environments including market and the business itself (Aswathappa, 2010, pp.37)…
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