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

10 Answers

Shane Richardson Profile
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.
Syed Rizwan Ali Shah Hamdani Profile
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.
minhaj razi Profile
minhaj razi answered
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.
Anonymous Profile
Anonymous answered
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.
Anonymous Profile
Anonymous answered
Organizations face challenges such as:

  • Quality challenges.
  • High work system challenges.
  • Social challenges.
  • Global challenges.
Anonymous Profile
Anonymous answered

Low capital

Technology

unskilled labour

climatic change

Poor policy

Poor support from the respondents

Anonymous Profile
Anonymous answered

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

anika roy Profile
anika roy answered

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


Amrit Podder Profile
Amrit Podder answered

6 Challenges of Artificial Intelligence

When we say that technology is driving and shaping the future of tomorrow, we do mean that
technology has its definite effects on our lifestyle. With Artificial
Intelligence in question, success and failure are the same sides of the coin.
Technology also has some disadvantages and challenges related to it. In this
article, we’ll discuss some problems of artificial intelligence and its
solutions.

You’ll find a lot
of information on the Internet about artificial intelligence and its
applications. But not a lot of attention has been given to the challenges of
artificial intelligence. Here are some of the artificial intelligence
challenges:

Building
trust

AI is all related
to science and algorithms, which lies on the technical side. People who are
completely unaware of these algorithms and technology that lies behind the
working of Artificial intelligence find it difficult to understand its
functioning.

Here is how
artificial intelligence can face trust issues with humans, in spite of its
ability to cut down on tasks. It is a basic human psychology that we often
neglect something that we don’t understand. We as humans tend to stay away from
anything complicated. And artificial intelligence being related to huge data,
data science and algorithms, there are times when users do not grasp these
concepts.

AI human interface

The challenge here
is the shortage of data science skills within humans to get maximum output from
artificial intelligence. As for the businesses, there is a shortage of advanced
skills. Business owners need to train their professionals to be able to
leverage the benefits of this technology. 

Statistics reveal
that 55% of survey respondents felt the biggest challenge was the changing
scope of human jobs when everything will be automated.


Investment

Another challenge of artificial
intelligence is that not all business owners or managers are willing to invest
in it. The funds required to set up and implement Artificial Intelligence is
very high, thus not every business owner or organization can invest in it or
can try it for their own business.


Software
malfunction

No technology or human is perfect.
In case of software or hardware crashes, it is difficult to put a finger on
what went wrong. On the other hand, tasks performed by humans can be traced.

However, with machines and inbuilt
algorithms in the picture, it is difficult to blame someone or find the cause
of a software/hardware crash. A recent example of this is the self-driving cars
that took the life of a pedestrian.


AI
can’t replace every task

Ever since AI made its way into
our lives, we have a notion that all tasks, minute or a gigantic, can be managed
by artificial intelligence. However, this can be true to a certain extent. But
not all the tasks can be undertaken by AI.

AI is more like a tool that helps
increase the productivity of a task. It has the ability to replace all the
worldly tasks with machines and lets you do more productive tasks with your
time. This is a tool that strengthens and boost the performance and efficiency
of an average worker.

Higher
expectations

AI could have serious issues with
the expectations of the people around. People, in general, don’t have a
detailed understanding of how AI works and hence they have extremely high
expectations; some of which are not even possible.

Humans have a tendency to expect
high from something that is trending and the outputs from it are also going to
be excellent. However, like any other technology, there are certain limitations
associated with AI.

Experts belonging to various
industries are pretty sure that artificial intelligence will rule the next era,
but there are some challenges that are a problem for artificial intelligence.

As a matter of fact, artificial
intelligence has seen much hype in the market. However, AI is still in its
initial phase. After reading this blog, we hope you have a better idea about
the future of artificial intelligence! This might have enhanced your
perspective on artificial intelligence as a whole.


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