With the current hard economic times, it is necessary for a business organization to put into consideration all the factors that are likely to affect its success in the market. It is true that every company will have to work harder so that it can realize its goals due to the current economic instability. This economic instability has been brought about by the current global economic recession that the whole world is facing. It should therefore be noted that with the currently development in technology in the world, the world is turning out to be a global village and one can buy any product from any part of the world.
As Porter, (2000) puts it, even though location may be integrated with the company’s wellbeing financially, socially and in terms of available resources, technology has a major part to play as it is the one that determines the market area of the product the company comes up with. Response to David’s posting Time is the only constant thing in this world. This means that in every organization, there will be some changes needed after some time. However, one cannot just wake up one morning and decide to change.
According to Satterlee, (2009) the fast growing technological development in the world today is making some organization’s traditional practices are becoming obsolete and they are being replace by new ones. This means that the organization must change so that it can adapt to the new environment for it to survive. There are some three steps that need to be followed so that one can know how and what to change. In as much as an organization must follow the three steps to change suggested by Nolifer Merchants, it must be well prepared as change comes along with the use of some extra resources.
Porter, M. (2000). Economic Development Quarterly. Location, Competion, and Economic Development. Retrieved July 8, 2010, from http://edq.sagepub.com.ezproxy.liberty.edu:2048/content/14/1/15.full.pdf+html
Satterlee, B. (2009). Cross Border Commerce. Roanoke, VA: Synergistics, Inc.
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