What Are The Challenges Faced By Organizations In Today's Environment?

What are some of the challenges that organizations face in today's environment?

Companies today are faced with a host of issues, which may cripple their functionality, or in some extreme cases render the organizations obsolete.

These challenges are dependent on the nature of operations of the company but broadly, there are common challenges, which are faced by a majority of organizations.

• Technological advancements today are on the increase more than in the previous century. For an organization to offer services, which are relevant, cost effective and compatible with society's needs, modern technology has to be employed. The initial cost of acquiring it, maintaining and running operations using the acquired technology is inhibitive. This is worsened by the short lifespan of most technological innovation which imply that companies and or organizations have to reinvest in current technology frequently so as to sustain their relevance.

Considering that today’s environment consists of the people, who are the recipients of a firm's services or goods, the fast changing nature of peoples likes, dislikes, preferences, opinions and lifestyles is thus a challenge facing organizations.

• Generational gaps have created a difficulty in determining consumer behaviours, yet most companies are investing heavily in customer behaviour analysis to determine the most appropriate way of matching a customers’ needs. Coupled with competition, (both fair and unfair) the challenge of making profit has been pushed to only the top notch large scale organizations.

• Unstable economies and currencies are another factor causing constant instability in the running of corporations. Though this has of late been caused by other external factors such as exchange rates, amount of exports and imports and political factors. There has been a relatively high incidence of economic instability in the recent past.

Albeit, national economies are recovering from a global economic meltdown today, most organizations have been negatively affected by the meltdown leading to massive layoffs.

• Frauds and cases of fraudulent or questionable business operations and agreements have been on the increase in the recent past. The custodians of an organizations policy are increasingly bending the organizations guidelines creating loopholes in various systems. This has led to heavier investments in more secure operational systems, to avoid loses created by those who are meant to safeguard it.

It is worthy to note that this has led to more stringent recruitment procedures, which attempt to assess the risk a company invites once it employs an individual. This trend is upcoming and most organizations are grappling with it today. In essence, factors both within and outside the corporation's environment are continually impacting negatively on the success hence there is need for more efforts to be applied if organizations are to meet their aims.

The challenges faced by today's organizations:

Organizations are facing different challenges in today's environment like:

• Technology: Only 20 years ago, few workers used fax machines or e-mail, and computers occupied entire rooms, not desktops. Advances in information and communication technology have permanently altered the workplace by changing the way information is created, stored, used, and shared.

• Diverse Workforce: A diverse workforce refers to two or more groups, each of whose members are identifiable and distinguishable based on demographic or other characteristics like gender, age group, education etc. Several barriers in dealing with diversity include stereotyping, prejudice, ethnocentrism, discrimination, tokenism, and gender-role stereotypes.

• Multiple Stakeholders: Stakeholders are those who have interests in the company. Multiple stakeholders for an organization include the customers, suppliers, consumers, investors, lenders, etc.

• Responsiveness: A corporation has to be responsive to the challenges and threats that it faces from within the internal or external environment. It requires quick responsiveness to meet the challenges and opportunities arising out of these changes.

• Rapid Changes: Due to changing internal and external environment, rapid changes in the company occur. Organizations have to be flexible to adjust to those changes.

• Globalization: Managers are faced with a myriad of challenges due to an array of environmental factors when doing business abroad. These managers must effectively plan, organize, lead, control, and manage cultural differences to be successful globally.

The challenges organizations face today.

In business terminology there is process called "environmental scanning" I know about this term as I hold a management degree. This process involves monitoring and evaluating the environmental changes and trends. As changing trends give new dimensions to organization, those companies which pay attention to their environments seem to perform well.

Change is the word which brings challenges to the business world. As change is a universal aspect of every enterprise. Every enterprise must meet the challenge of continually reorganizing itself to achieve its target goals.

Changes faced by modern companies include:

• Technology.
• Government policies.
• Competitors in terms of technology which brings re-engineering process.
• Suppliers.
• Demand of customers.
• Market research.
• Publicity.
• Availability of resources.
• Decision making by the management.

Restraint in any of these entities will result in the falloff of business strength. Social factors can also affect the business strategies in terms of circumstances prevailing in the same country or with whom they are making business. There is always a risk factor involved in such cases.

Both economic and political environment of countries have a great impact on managing local and international business. Instability in these areas brings challenge to the entrepreneurs.

Challenges faced by organizations In today’s environment:
organizations are facing many different challenges today, such as:

• Technology.
• Diverse workforce.
• Multiple stakeholders.
• Responsiveness.
• Rapid changes
• Globalization.

Organizations face challenges such as:

• Quality challenges.
• High work system challenges.
• Social challenges.
• Global challenges.

Low capital

Technology

unskilled labour

climatic change

Poor policy

Poor support from the respondents

Now there is no longer country boundaries as past which allowed some businesses to carry out to certain community. World is becoming one village through globalization. All the organzation competing each other to survive and win customers all over the world. Now i would like list some of major challenges faced by the organization in today's context.

1. Intensive    competition
   
2. informed customer
3. rapid development of technology
4. liberation of market
5. cost and quality concicouness

Marketing
has come a long way from the usual e-mail campaigns and advertisements.
The rapidly growing digital technology is changing the rules of how
businesses connect with customers and stay up-to-date with latest
industry trends. As technology grows, businesses will have to keep in
sync with it or lose out on potential opportunities.

So what does this all mean for your business? And how can your
business stay on top while adopting the changing trends? Take a look at
some of the hot-selling marketing trends of 2016 that you can implement
them in your business.

Top 5 Marketing Trends of 2016

Here are the top 5 marketing trends that are set to rule in 2016.

1. Marketing Automation and Analytics

Companies already use a dozen marketing automation tools such as
Marketo and Eloqua to predict consumer behaviour and patterns. 2016 is
set to see a rise of marketing automation. Such technologies help
marketers to mine user data and target segments more efficiently.

These predictive analytics tools help marketers in obtaining a 360
degree picture of the prospects. Such analytics are not just restricted
to Google, Yahoo and Bing; as more and more social media sites flood the
internet, companies can get a better access to consumers and increase
their visibility. When paired with buy buttons and easy payment options,
the scope is unlimited.

Source for Full Article : www.biz2credit.in/blog/2016/01/04/5-hot-selling-marketing-tr

discuss the issue faced by the organization in the present scenario