Question

What is the nature of environmental changes? Global, regional or national(local) .discuss

how do the companies come up with appropriate strategies to embrace these changes?

Answer 1

The environment changes:

• are caused by a disturbance in the environment caused by human interference and also by natural ecological cycle.
• It involves interaction in the form of natural disasters, human or animal interactions etc.

For the business, these environmental changes (irrespective of global, regional or national )involves creating a cohesive work culture where the team is driven by purpose and results.

Here is how companies come up with appropriate strategies to embrace these changes:

• It has become imperative that leaders communicate the direction in which the company will move forward. Setting a vision which is desirable and requires continuous commitment helps in the process of a successful adaptation to environmental changes.
• The business in order to adapt to environmental changes requires a people first strategy.
• Change Management Leadership: Companies are required to convince their organisational stakeholders and employee to embrace change & support the change management process. The ownership of achieving goals of change management must be shared by senior executives of the organisation.
• The new business environment requires companies to have a high adaptive capacity. The ability to change, adapt and bring innovation are key factors associated with new age environment.
• Embracing technology is becoming another important factor in defining the new business environment. With digitisation and social media, firms are able to leverage opportunities better and get more results.
• The new business environment also has less focus on hierarchies and more on the collaborative workforce.
• The new business environment is more diverse workforce-oriented with accessible career opportunities.
• Another important factor is to make sure all environmental changes is by creating high customer value as it brings a positive influence to the company's brand and product strategy. It creates an avenue for long-term profitability. Customers in the 21st century are well aware, sustainability & health conscious hence a firm focus on creating value for customers will create more promoters leading to increased trust and confidence in the firm product & vision.

Here are other ways:

• 
  The employee engagement plan: It will be important to make employee reduce energy and resource requirement and shift to greener habits. The workplace culture will have to promote and rewards habits and behaviors which conserve energy. The corporation should design green practises and values and market it internally as it will create a conscious personal shift towards sustainable organisations. It is important because the internal green work culture will define the credibility and value externally.
• The overall cost reduction in operations and office management: These will be important environmental considerations and if not managed will lead to a huge amount of operating expenses as the cost of resources are increasing. Like adopting kitchen gardens, eco-friendly LED bulbs, energy efficient cooling systems etc will save the financial resources of the company. The organisations by adopting such measures will be able to utilise various federal and state incentives and subsidies.
• Adaptation to climate change and global warming: The firms will have to understand the implications and plan strategically with future goals. Planning for disaster management and heat conditions will be important to survive inflated costs. It is important because then the firm can use this as an opportunity to reduce costs. Example: Shifting to digital tech like video conferencing can substantially reduce travel costs.
• Conservation of resources like water and energy can help create sustainable firms. Water saving technology, vertical farms for cooling and adopting such practices will help become cost-efficient.

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