Even globalization has caused significant repercussions in the legal environment. The effects of technological changes occur primarily through new products, processes, and materials. An entire industry may be transformed or revitalized due to the use of new technology. It denotes to the methods available for converting resources into products or services. Investment decisions must be accurate in new technologies and they must be adaptable to them. Managers/strategy-makers must have the ability to predict the state of the economy.

In 1991 Indian rupee was devalued to make Indian products cheaper in world market so as to boost India’s exports. That was the golden opportunity for all Indian exporters to export more goods and reserves and earn foreign exchange. It was the change in the personality as the political leader and the brains behind, who together liberated India from control raj and opened up the Indian economy to the whole world.

Some aspects of the general environment, such as demographics, simply must be taken as a given by all organizations. Overall, the environment has a far greater influence on most organizations than most organizations have on the environment. It is useful to break the concept of the environment down into two components. The general environment includes overall trends and events in society such as social trends, technological trends, demographics, and economic conditions.

The board of directors is the governing body of the company who is elected by stockholders, and they are given the responsibility for overseeing a firm’s top managers such as the general manager. They have resourceful bees automation the right to change the company’s policy at any time. In this post, we will look at the elements of the organizations’ environment. The environmental forces abstracts and visible need careful analysis.

It is therefore essential that every organization knows which of the internal factors represent limiting conditions and which are the drivers of the projects for their correct management. Employees are an important part of the internal environment of an organization. Manage the social, economic and environmental impacts of your event with this standard. The ISO 9000 family is the world’s best-known quality management standard for companies and organizations of any size. In addition to being laid out in the same way, there are some parts of a standard where identical text can be used.

Turning our focus to “Industrial Laws”, good many laws have been passed from time to time to regulate the industrial and commercial activities, protection of interests of employees. Political and legal environment is rightly called as regulatory environment. Governments of the nation, states and local area play a constructive role as the custodian of citizens.

In the past it was not uncommon to see average spans of one to four . With the development of inexpensive information technology in the 1980s, corporate leaders flattened many organizational structures and caused average spans to move closer to one to ten. As this technology developed further and eased many middle-managerial tasks , upper management found they could save money by hiring fewer middle managers.