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Case study: Facing the Future - Essay Example

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Running head: MANAGING FOR THE FUTURE Managing for the Future Insert Name Insert Insert July 13, 2011 Managing for the Future Case study: Facing the Future Introduction The global as well as the local economies in different parts of the world have exhibited changing trends in the past years…
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Case study: Facing the Future

Download file to see previous pages... Several factors can be considered to be behind the changing trends that have been witnessed and that are yet to be witnessed at the local and global scenes. One of the factors that led to the changing growth pattern of the economy at the beginning of the millennium was the introduction of the emerging market into the world market. The increased industrialization in various countries like India and China led to increased demand for various products in those markets. Business organizations took the advantage of the available opportunities to invest in the given regions. These regions were attractive as there were still cheap labour and availability of the raw materials for the production companies. The increased employment rates in those regions initiated the economic growth. There was a rise in the in the living standards with more demand on products like energy and food in the region. This demand surpassed the supply of the products thereby forcing the prices of the products to rise. This could be the reason that led to economic recession towards the end of the last decade. Another factor that affects the economic growth is the competition that is witnessed among different organizations in the global markets. With the increased globalization, various organizations struggle to maintain their market position and have advantage over their competitors. One of the strategies that could be used to attract more consumers or to retain the customers of the organization is to lower the prices of their products. The cycle that will be formed eventually affects the economic growth in the regions. Another important factor relates to the ever-increasing world population. This leads to increasing demand for essential products that are necessary for human consumption. In effect, much of the population, especially in the developing nations, cannot obtain the basic human needs like food and shelter. The low rates of expenditure of such families have negative impacts on the regional economy. The economic changes that are witnessed in a business environment will have a direct impact on the operations of a given business organization. The achievements of the goals and objectives of a business organization will depend greatly on the response that the management of the organization gives to the changes in the business environment. A business organization that is to survive in the competitive global market has to be sensitive to the dynamics of the business environment and take the necessary steps before a competitor takes the advantage. In response to the changes in the business environment, a business organization can take several initiatives. These include reviewing the organizational structure, adopting modern technology in the operations of the organization, analysis of the environmental effects of the operations, putting much emphasis to meet the needs of the customers, and involving all the key stakeholders in the decision-making activities in the organization among many others. Peanut Butter & Co is a food company that was founded in 1998 by Lee Zalben. The company is situated in New York City and is known international for its peanut butter products that are now available in different flavors. This paper provides a look at three initiatives that an organization can take in order to survive in the future market namely corporate social responsibility, technological changes, and environmental impact ...Download file to see next pagesRead More
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