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Explain any 5 ways in which managers have responded to change in business environment?
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Explain any 5 ways in which managers have responded to change in busin...
Ways in Which Managers Have Responded to Change in Business Environment
Change is a constant factor in the business environment. Managers must respond to the changes to ensure the survival and growth of their organizations. Here are five ways managers have responded to change in the business environment:
- Restructuring: Managers have responded to change by restructuring their organizations. They have redefined their organizational structures, streamlined their operations, and eliminated redundancies. This has helped them to reduce costs, increase efficiency, and improve their competitiveness in the market.
- Innovation: Managers have responded to change by embracing innovation. They have introduced new products, services, and processes to meet the changing needs of their customers. They have invested in research and development to come up with new ideas that will help them stay ahead of their competitors.
- Collaboration: Managers have responded to change by collaborating with other organizations. They have formed partnerships and alliances with other firms to share resources, knowledge, and expertise. This has helped them to expand their reach, enter new markets, and increase their market share.
- Employee Training and Development: Managers have responded to change by investing in employee training and development. They have provided their employees with the skills and knowledge they need to adapt to the changing business environment. This has helped them to increase productivity, improve quality, and enhance customer satisfaction.
- Technology: Managers have responded to change by embracing technology. They have adopted new technologies such as artificial intelligence, cloud computing, and big data analytics to improve their operations. This has helped them to reduce costs, increase efficiency, and improve their decision-making.
These are some of the ways managers have responded to change in the business environment. By embracing change, managers can ensure the long-term success of their organizations.
Community Answer
Explain any 5 ways in which managers have responded to change in busin...
According to me following points are as:
1. Maneger, firstly analysis the changes as they have greater impact on organisation or not. or they beneficial of the company.
2. If the changes are not in favour of the organisation manager try to anticipate them and make internal environment strong because in this we assume it can be managereabel.
3. After it , he can make new plans and policy for it.
4. changes effectiveness how they effect the company.
5. Analysis of all changes and classifying them into different categories and Handel one by one.
NOTE: there are so many changes in the business environment on daily basis like, change technique, strategy of competitor and so on and then manger response according to it. As all is it dynamic environment and Full with uncertainty.
1. Maneger, firstly analysis the changes as they have greater impact on organisation or not. or they beneficial of the company.
2. If the changes are not in favour of the organisation manager try to anticipate them and make internal environment strong because in this we assume it can be managereabel.
3. After it , he can make new plans and policy for it.
4. changes effectiveness how they effect the company.
5. Analysis of all changes and classifying them into different categories and Handel one by one.
NOTE: there are so many changes in the business environment on daily basis like, change technique, strategy of competitor and so on and then manger response according to it. As all is it dynamic environment and Full with uncertainty.
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Explain any 5 ways in which managers have responded to change in business environment? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Explain any 5 ways in which managers have responded to change in business environment? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Explain any 5 ways in which managers have responded to change in business environment?.
Explain any 5 ways in which managers have responded to change in business environment? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Explain any 5 ways in which managers have responded to change in business environment? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Explain any 5 ways in which managers have responded to change in business environment?.
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