Social factors such cultural trends, traditions, population demographics, education levels and income distribution. Organizations need to be in tune to the needs of the society in order to address those needs. The company or organization may need to always change their management depending on the social trends, which always change with time. They also need to be alert about changes in social culture ate that place where they run their
ECONOMICAL FACTORS Economic environment refers to those economic factors which have impact on the working of business viz. Economic system, economic policy, nature of economy, trade cycles, economic resources, level of income, distribution of income and wealth, economic legislation, etc. Economic environment of business is very complex in nature. It is very dynamic. It keeps on changing with change in government policies, change in political situations etc.
We try our best to identify and to avoid these risks. For the resource risk, I will only care about this risk when it comes to our internal plant. I believe demand risk is also important. It directly affects the other risks as well which are the supply and the operational risks. We always concern that the changes in the demand will change the quantity produced as well as the costs of manufacturing or purchasing.
EXTERNAL FACTORS – The factors that affect the organization or business which are outside the organizations structure are known as External Factors. These cannot be controlled by the organization apart from keeping precautions planned in case of the same. They consist of Opportunities and Threats which indicates it can be positive or negative as well. External Factors can be of two types, Specific or General. Customers, Competitors, Suppliers and Public Pressure Groups are specific factors that have a direct and profound impact on the business.
It depends upon the strengths and the weaknesses of the company that how it uses the changes in the environment to alter its functioning. The global marketing environment can be categorized in two types – • Micro environment • Macro environment Micro environment factors mostly lie inside the company and affect its working where as macro environment factors are large societal factors affecting the functioning of the company from outside of the organization. Various micro
Moreover, in spite of the rapidly changing practices of global business setting and also different development of association structure, the center peculiarities of general administration, for example, formalization, chain of command and staff ability for timeless, conformance and clear responsibility remain inescapably fundamental for contemporary associations to stay in front of progressively escalated rivalry. At last, association administration should contemplate elements influencing productivity of organization application, for example, nature of work energy, social qualities and in particular, consistent change of this administration style to get up to speed with snappy change and popularity of contemporary associations. For sure, administration, in the same way as another styles of administration, innately has both negative and positive impacts, the issue for contemporary administration is the means by which to take favorable circumstances and reduce the burdens in the most proper
Increase or decrease of these indicators affect directly the household consumption and the sales revenues. Les Petites Douceurs must take into account economic environment as a whole. Indeed, It is important that Les Petites Douceurs take into account each above points because macro-economic factors have a huge impact on the demand and the competitiveness of the company. 3. Social environment Social influences include the evolution of the population and its demographic characteristics.
• HR plays an imp. Role in dynamic and competitive environment where organizational activities have become more tactical which requires enhanced individual competency. With shift in firm focus from employee efficiency to employee effectiveness, HR practices have become crucial since they have the organizational capabilities e.g. staffing, skills, culture, rewards and system aligned with business strategy. • To align business strategy with operations and processes HR practices should improve on HR operational efficiency by improving on design and delivery of basic HR operations and extending HR functional role to strategic role reducing demarcation between HR and system processes.
Introduction Everything comes up with both pros and cons and similar is the case with the economic globalization. The environment has become more competitively fierce for the manufacturing companies and they have to face more challenges as compared to the opportunities. Therefore, they have to set out such standards that can support them in both domestic and international markets. Competitive advantage can be achieved in the marketplace by adopting and implementing a well-defined set of operations management practices (Heizer and Render, 2004). Some of the best operational management practices are Just In Time (JIT) systems, Material Requirement Planning (MRP), Six Sigma, Lean Manufacturing, Enterprises Resources Planning (ERP), Supply Chain Management (SCM), and Total Quality Management (TQM).
Project TitleMANPOWER PLANNING AND RESOURCINGObjectivesThe objectives of Human Resource Planning are the following: • Deciding Goals: Human Resource Planning helps to achieve individual and organizational goals • Evaluating future organizational structure and human resource requirements The Human Resource Planning is essential for a company for following reasons: • To use the human resources of the company in a most efficient manner to gain maximum benefits. This task would be easier if information regarding the various aspects of human resources are collected and arranged in an organised manner by HR • To forecast future requirements for human resources numbers and skills. This is especially important for companies that are planning expansion