Having a successful business means having a good business model and be willing to work with the internal and external influences. A strong business model is achieved when the internal factors of organizational structure, organizational culture, management structure as well the external factors of politics, society, technology, geography etc. are compiled in harmony. In current times, with the emergence of technology, it is difficult to maintain or set a certain model and be rigid about maintaining it (Abeoye, 2012). There is more competition, and a vast amount of knowledge available on the internet which allows people to self-learn many skills or services that previously required proper schooling. Various health and safety regulations can also influence businesses and have a cascade effect. Change in overall management structure or HRM services can also significantly affect a business.
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Thus HR has a big impact on the day to day operations of the business as it actively deals with the employees (sing 2013). It can be conjectured that it is the external factors of human trends that affect the business environment the most which could be brought about by natural, political economic changes. Another big impact is due to technology, which is implemented at varying levels by different companies; the employees are effective users at varying levels (Abebe). Technology also impacts the production processes in companies thus bringing in fully automated systems causes redundancy in workforce. Since the technological development is so swift, these environments also crumble after sometime when processes are further streamlined. Under some circumstances it can be seen that for many business, streamlining has a negative effect and cause the business to perform poorly. Many businesses also cater to the employees and employee satisfaction can play an important role for the upkeep of the
Thus HR has a big impact on the day to day operations of the business as it actively deals with the employees (sing 2013). It can be conjectured that it is the external factors of human trends that affect the business environment the most which could be brought about by natural, political economic changes. Another big impact is due to technology, which is implemented at varying levels by different companies; the employees are effective users at varying levels (Abebe). Technology also impacts the production processes in companies thus bringing in fully automated systems causes redundancy in workforce. Since the technological development is so swift, these environments also crumble after sometime when processes are further streamlined. Under some circumstances it can be seen that for many business, streamlining has a negative effect and cause the business to perform poorly. Many businesses also cater to the employees and employee satisfaction can play an important role for the upkeep of the