THE CHANGING ENVIRONMENT FOR BUSINESS

Earlier people working in factories were treated cruelly, but the picture has changed a lot. Today we can see more security norms in the work place. The business surroundings are varying fast, and so are the wants and requirements of people. Example - Today a person who seeks for a profession looks at career satisfaction, executive briefings, the "outsider within," decision making as the main criteria. The industry had a foremost make over the past century and the way an administrator looked at his business has also changed. Managers today have to update themselves all the time to the constantly changing business environment. An administrator can not take any decisions thinking about the present situation but has to investigate what the future will be for the product or service. Every individual must appreciate that human resources are the most important capital in any industry. With the changing business environment, people call for basic change in human ethics, both as individuals and as integrated in the corporate and commercial structures of the society. I can surely say that majority of the changes in business surroundings are because of Globalization. Today companies are transforming themselves into a global society

Example: some years ago Mysore sandal soap was the one of the very famous soap in India. It ha more than 60% of market shares in soap industry. But now because of lack of R&D department, globalization, problem with internal communication now industry has lost its costumers and also market share is reduced to 10 to 12%. This is because they did not adopt the new technology.

Personal experience: globalization in banking sector made the user fell very friendly. In this context I would like to share my experience in banking sector. When in doing my Pre-university course in Mysore, to withdraw money from ING-VYSYA bank I need to wait in Q for more than one hour. But today in same bank to withdraw the money it hardly takes me 2 min in ATM. This change is because of impact the globalization in banking sector

Reference http://scientific.thomsonreuters.com/quantum2/media/pdfs/changing_environ_infopros.pdf

corporate communication by Paul A Argenti