Lecture notes on cloud computing IV b. Tech-1 st semester prepared by
Drivers for Changes A Framework To Comprehend The
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| Drivers for Changes A Framework To Comprehend The Competitive Environment The Framework The five driving factors for change encapsulated by the framework are ● Economic (global and local, external and internal) ● Legal, political, and regulatory compliance ● Environmental (industry structure and trends) ● Technology developments and innovation ● Socio cultural (markets and customers) The five driving factors for change is an approach to investigate, analyze, and forecast the emerging trends of a plausible future, by studying and understanding the five categories of drivers for change. The results will help the business to make better decisions, and it will also help shape the short- and long-term strategies of that business. It is this process that helps reveal the important factors for the organizations desirable future state, and it helps the organization to comprehend which driving forces will change the competitive landscape in the industry the business is in, identify critical uncertainties, and recognize what part of the future is predetermined such that it will happen regardless how the future will play out. This approach also helps seek out those facts and perceptions that challenge ones underlying assumptions, and thus it helps the company make abetter decision. ● Every organizations decisions are influenced by particular key factors, some of them are within the organizations control, such as (a) internal financial weakness and strength and (b) technology development and innovation, and therefore the organization has more control. The others, such as legal compliance issues, competitor capabilities, and strategies, are all external factors over which the organization has little or no control. There are also many other less obvious external factors that will impact the organization identifying and assessing these fundamental factors and formulating a course of action proactively is paramount to any business success. A driving force or factor is a conceptual tool it guides us to think deeply about the underlying issues that impact our well-being and 92 success. Ina business setting, it helps us to visualize and familiarize ourselves with future possibilities (opportunities and threats. Economic (Global and Local, External and Internal) ● Economic factors are usually dealing with the state of economy, both local and global in scale. To be successful, companies have to live with the paradox of having new market and business opportunities globally, and yet no one can be isolated from the 2008 global financial crisis, because we are all interdependent. Managers are often asked to do more with less, and this phenomenon is especially true during economic downturn. Managers and groups are expected to deal with the unpleasant facts of shrinking market share, declining profit margins, unsatisfactory earnings, new and increasing competition, and decreasing competitiveness. Following are sample questions that could help to provoke further discussion ● What is the current economic situation ● What will the economy looks like in 1 year, 2 years, 3 years, 5 years, and soon What are some of the factors that will influence the future economic outlook ● Is capital easy to access ● How does this technology transcend the existing business model ● Buy vs. build Which is the right way ● What is the total cost of ownership (TCO)? Download 1.49 Mb. Share with your friends:
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