What makes every company so unique is that of their organizational culture. One of the reasons so many organizations take great pride in their culture is because most of the time the organizational culture of a company reflects from upper level management and their …show more content…
Most companies try to focus on the recent and potential innovations in order to better understand how they can adjust.
Industry Growth is one many companies put much of their time in developing. Industry growth is that of which an organization measures its level of growth for the entire industry. Once results are produced industries will make changes in order to avoid loss.
Competitor analysis, is one of the more exiting of the elements, it is an organizations opportunity to monitor their competition. The monitor aspects from stretch to weakness, their goals both long term and short term, they will even try to predict potential strategies of other organizations. There are a few companies that are constantly fights for shared space in the market rival companies like Pepsi and Coke, Nike and Adidas. These companies provide much effort to their Competitor analysis.
No matter what step companies take it is vital to understand and do the research necessary to understand the environment one is in. Companies that do not so their homework and research will most likely fail within the first two …show more content…
An example of single-use plan would be the situation Samsung finds themselves in at the moment. With many of their phones catching on fire they made the decision to recall over 1 million phones in exchange for a new one.
Standing plan is designed to achieve many goals over a long period of time, these goals can be changed if necessary. An example of standing plan is a companies plan to insert better customer service or even better incentive programs for employees. Two key differences from standing plan and single-use plan is that standing plan is more of a “long term” plan as where single-use plan is more of a “short term” plan. Also most of the time a standing plan comes from upper level management as where single-use plan comes from middle or lower level management.
Contingency plan is when a company has a set of instructions in place in advance if any existing plans were ever to fail, in other words a contingency plan is a safety net for an organization. An example of contingency plan goes back to Samsung, when one of their models failed in the market they had a contingency plan in place to recall and get the customer a new