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PROBLEMS IN BUSINESS .
- 1. PROBLEMS IN BUSINESS (CASE STUDY) Company Name: Home Of Dissertations Website: https://www.dissertationhomework.com Contact Number: +44 7842798340 CONNECT NOW
- 3. Introduction A business always comes with some issues and problems that are to be overlooked easily in this paper. These issues are generally negative for the business perspective and to gain a positive aspect for the future. These issues are globalization, price, profits, Market values are to be gained and thus these issues are to be resolved in this scenario.
- 4. Issues in business • Business and market value are various times being affected by the risk that is faced. • These are generally referred to as issues in business. • These issues are required to be encountered properly so that business can be processed properly and a good infrastructure can be gained easily. https://365itsolutions.com/wp-content/uploads/2016/11/Cybersecurity-is- not-seen-as-a-business-issue.jpg
- 5. Types of Issues in business 1) Uncertainty 2) Globalization 3) Innovation 4) Technology 5) Diversity and complexity https://i.ytimg.com/vi/ywxf47dBZtA/maxresdefault.jpg
- 6. Uncertainty • It is uncertain and any downfall in business can be encountered easily. • Uncertainty can be seen regarding: a) competitors in the market in the same profession. b) economy of the country c) market values and the business structure that is seen in this phase. https://myventurepad.com/wp-content/uploads/2016/08/uncertainty.jpg
- 7. Types of uncertainties • Cost uncertainty can be seen. a) Uncertainty regarding the cost of manufacturing and production. b) Different products cost are generally uncertain in nature • Uncertainty of labor or inefficient labors. a) Their efficiency and working skills are uncertain for the organization. b) No cooperation by the employees is an uncertainty. • Uncertainty of profit or the gains that can be made. a) Cost and revenue are uncertain. b) Its not sure for the business. • Uncertainty of demands and gains for products. a) decision making and strategy becomes uncertain b) Management and demand table preparation is seen uncertain. • Environmental uncertainties and uneven climatic condition. a) Natural calamities can cause a huge downfall for the business. • Uncertainty regarding price of goods and income.
- 8. Globalization • New foreign culture and establishing a new business can be a milestone. • Designing and gaining a new business structure so that a good competition can be established here. • Tariffs and extra VAT that are imposed can be an impactful one for the business. • A proper team member as well as human resources are required for running the organization properly. https://3.bp.blogspot.com/- JJKwSENprIA/UOcCBlYQFcI/AAAAAAAAAFM/k6ECsLLmNGY/s1600/globalisier ung_dimensionen.gif
- 9. Innovation • Innovative and new ideas are required or else tasks cannot be enhanced in future. • Big innovations are seen for the struggling companies. • Employees are motivated and inspired by this methodology. • No customer connection. • A collaborative team work is required in this case for the good business structure. https://sustainability.com/wp- content/uploads/2013/09/normal_business_model_innovation_500.jpg
- 10. Technology • Tools and technologies are required for gaining good business structure. • Next generation technology is required for the competitive advantage. • Governance and management of risk are seen over here. • Management of resources and infrastructure is possible through this process. https://myessaypoint.com/wp-content/uploads/Importance-Of-Technology- In-Business.jpg
- 11. Diversity and complexity • Diversity establishes disagreement between the group regarding any topic. • Economy is seen to be complex in nature. • A narrow view for leadership and other qualities can be seen here. https://lh3.googleusercontent.com/proxy/G8Nbk76FaNeGRO1NfsWUA5qfJq UEMlzahLf9HaiBVhGsmRPaPjYQRg_nPP2xq3ShO_NoehRY6AXCE- elyExz_R6Qvy7mYKyLjxV6lD9Pg-GppQ
- 12. Potential solutions • Planning • Time management • A good team • Cash flow arrangement • A good analysis for competition https://lh3.googleusercontent.com/proxy/aPiKXt02afyYghnKWxS3smh- SY45eHH6i8M4fC9JsD1VoOgCtANtVZkctZKH6RDwx7s2TbKlIfHkDEJe
- 13. Personal View on those business problems • It can be understood that all organizations require a good business infrastructure. • A good management and strategies are easily seen to be followed in the business issues that occur. • As described the issues such as labor, globalization and uncertainties and various others are highly required to be handled in the organization. • Not keeping up with the new market can be an issue for the organization. • Cash flow can be the constraint and can be an essential one for the barrier of growth and raise of business. • Systems and the enabling of new technology can be useful one for the company to gain a good structure here. • Inefficient and unskilled labor are not required for the organizational and business.
- 14. Conclusion Thus it can be concluded that the business comes with various issues and risks in the organization. These issues are generally in all the parts such as globalization, employee, time management and various others and are required to be focused on them properly. The solution regarding these issues are discussed here in this paper.
- 15. Reference List Books • Laudon, K.C. and Traver, C.G., 2016. E-commerce: business, technology, society.[tech Journals • Olayemi, O.O., Okonji, P.S. and Oghojafor, B.E., 2018. The Influence of Competitive Aggressiveness and Environmental Uncertainties on Business Performance in Nigeria. Nigerian Journal of Management Sciences, 18(2), pp.111-122. [uncer • Djelic, M.L. and Quack, S., 2018. Globalization and business regulation. Annual Review of Sociology. [globa • Cherifi, A., Gardoni, M., M'Bassègue, P., Renaud, J. and Houssin, R., 2017. Knowledge management and eco- innovation: Issues and organizational challenges to small and medium enterprises. The Design Society.[innovation • Kapoor, R. and Agarwal, S., 2017. Sustaining superior performance in business ecosystems: Evidence from application software developers in the iOS and Android smartphone ecosystems. Organization Science, 28(3), pp.531-551. [diversity • Haseeb, M., Hussain, H.I., Ślusarczyk, B. and Jermsittiparsert, K., 2019. Industry 4.0: A solution towards technology challenges of sustainable business performance. Social Sciences, 8(5), p.154. [solution for Online article • researchgate.net , 2019, An analysis of purchasing behaviour and the problems faced by Bt cotton farmers Available at: https://www.researchgate.net/profile/Zainab_Sharief/publication/326461685_An_analysis_of_purchasing_behavi our_and_the_problems_faced_by_Bt_cotton_farmers/links/5b4ef9c40f7e9b240fe91d81/An-analysis-of- purchasing-behaviour-and-the-problems-faced-by-Bt-cotton-farmers.pdf [Available on: 30.03.2020]
- 17. THANK YOU !! Contact us now Website: https://www.dissertationhomework.com Contact Number: +44 7842798340 Connect Now
Editor's Notes
- Business issues are challenges and milestones for the market values. The goals and strategies are generally affected here in this case. Customer loyalty, employee satisfaction and several others are a great example. The results processed are negative and progress is highly required.
- The issues in the business are due to uncertainty as that cannot be predicted or restricted. The uncertainty can be occured due to the economy of the country or natural clauses or market competition. Long term planning or short term results are affected here in this case. A business value and ethics can be easily diminished here (Olayemi, 2018). Leaders and managers are generally affected by these uncertainties. Natural calamities can be hazardous one for the business. A sudden fall of economy or the business value can be observed here easily. A global economic and market uncertainty are easily available here. Unbalanced market and business can be observed here.
- These uncertainties regarding the business are seen to be occurring in many forms such as cost, internationalising, profit gain and many others. As discussed the uncertainties are related to the cost, pricing, profit, globalizing, internationalization and the natural calamities that can be occurring in future. Employee and labor are also uncertain in this scenario because the unskilled ones are not selected for the companies.
- Encouraging business across the border is highly required here. A new business culture is not easy to cope up with (Djelic, 2018). These require additional tax and tariffs.
- As the customers always want something new the organisation must focus on building new ideas and innovating new products that are useful to the people (Cherifi, 2018).
- The organisation with advanced technology faces less issues as compared with the organisation that lacks technology (Laudon, 2016).
- Diversity and complexity are seen to be a disadvantage for the business and for the organization. These are to be focused and shot out properly in the organization. Business model design and other formations are seen to be in complex hands for business (Kapoor, 2017). A better thinking capability can be easily gained by this issue here.
- These business issues have a prior solution also to overcome the issues faced. If the problem persists then the solution is also there and it will be applied to solve those problems. There are following methods to overcome those issues in business: Planning: Good planning is required before the start of any business. These planings are required to make a good outcome for the business (Haseeb, 2017). A planning for the team, business model, organizational culture and others are required to be done so that a proper business structure can be gained for the future. Time management : The time regarding the job should be allocated properly and must be utilised in the best way possible. Cash flow arrangement: The business house can be mainly controlled with proper cash flow management. If the Cash inflow and outflow is properly maintained then the issues that arise in the management will be reduced and proper information will be passed to the upper management. The correct information will help in making right decisions. Analysis of competition: If a company has a good customer base then it will always have high comperion. If the organisation will have correct information about its competitors then it will take necessary steps to beat the competition and come to first place (researchgate.net , 2019).
- The recommendation on how the business issues can be solved is given as the organisation must make proper use of resources and time. Good strategies must be followed. Information about the internal system and external market must be updated. The cash flow system must be properly maintained with good technologies.