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In addition, this paper will describe how these factors relate to one another and to the overall innovation process. Therefore, the marketplace has challenges for any type of organization that needs to maintain profitability, stability, and productivity. Designing Innovative Strategies, Internal and External Factors As a result, innovation must be developed in all industries for the companies to follow of the competitive environment. Innovators shall foresee these factors to combat with its competitors for it to be successful, making innovation an essential factor for company growth. Innovations do vary in many aspects.

In most cases, a company has to make a decision about whether to inquire on whether to use internal consultants or hire external consultants to resolve the issues of the business, but one has to be sure to cautiously deliberate the advantages and disadvantages with each. Looking at the role of the internal and external consultant, one has to be aware there are significant differences in, viewpoints, requirements and challenges. One can’t define all the differences or resemblances, here are a few similes to get underway. Let’s evaluate some of how the external may differ from an internal

A SWOT analysis is a tool that identifies internal and external factors that may affect an organization. According to Parnell (2014), a SWOT analysis allows managers to investigate the strengths, weaknesses, opportunities, and threats that a company may face in their environment. Strengths and weaknesses are typically internal factors; while opportunities and threats are external factors. A company’s strengths are the things that set them apart and make them different or better than anyone else in their industry. The weaknesses are the things that affect them in a negative manner that keep the company from being competitive.

Strategic management involves analyzing issues concerning the business structure and environment, making the correct decisions about how to deal with problems, and putting the decisions into practice, with the aim of countering competition and enhancing business outcomes (Dess, Lumpkin, & Taylor 2005, p. 1). In strategic management, managers need to work not only on the internal business environment, but also on the external business environment, formulating competent strategies, executing those strategies, and then assessing the effectiveness of the strategies and making the necessary adjustments, if the need arises (Parnell 2008, p. 2). In the internal business environment, strategic management involves the creation of such an environment, whereby all activities are coordinated effectively and are geared towards achieving the business objectives. During the formulation of the strategic management plan, managers define the mission of the business and lay down the strategies to be followed by all employees in working towards realizing the mission. The mission of a... ... middle of paper ... ...the strategies to handle the various needs, put the strategies into practice, and then follow up to assess the effectiveness of the strategies towards achieving the business goals.

In a regular day to day basis businesses must face a great deal of external and internal forces. Businesses have many different aspects of external and internal forces they must face in order to be successful. External forces, internal forces and trends continually make the pathway for where a business is headed and where a business stands currently. Organizations should do a SWOTT analysis to examine business potential and business risks so that if any action needs to be conducted it can be done before any unwanted events occur within the business (Robinson, Pearce, 2004). United Daycare has several forces and trends that potentially affect the overall business.

Through implementing supply chain management and coordinating with IT companies are able to face these tough times head on and manage their way through a downturn. As shown above, a variety of approaches can be used when adapting supply chains to tough times. Whether a company uses the “pull” approach like Cisco Systems, or the strategy of O’Reilly Auto Parts, each approach shares their differences. In the end, each of these approaches have one particular thing in common and that is the need for supply chain management operation and coordination with IT. In order to bring supply chains to optimal levels and for the company to be able to manage their way through economic downturns these two elements must come together to meet the companies needs.

Finally, as outsourcing is one of the highly accepted ways for cost reduction, performance improvement and to examine on basic elements of business, there are also possibilities of failures by those who take initiatives in outsourcing strategy due to some factors and effect badly the management’s expectations. Q.1 Discover the role of Human Resource (HR) outsourcing strategy to encounter the requisite for a more nimble personnel. Answer: Human Resources (HR) outsourcing strategy impulses to modify the concept of how talent is manage by the contribution of firms. To produce more agile workforce, a leading HR o... ... middle of paper ... ...lobally, but also to keep hold on third party outsourcing investment for the enhancement of goals of business; hence, it is a new outlook to manage global sourcing. A large-scale IT outsourcing projects is not easy to run and monitor.

The companies which monitors and back tracks the needs, usage and trends of their mainstream consumers will catch the success changing the aspects of being along with competitors in the market. Inhibitors to Disruptive Innovation: Organizations face many internal and external barriers that inhibit the development of capabilities of innovating. The nature of inhibitor depicts how much it impact is present on organizations innovation capabilities and what challenge they face to overcome the barrier. Several Inhibitors that effect the innovation capabilities of organizations are: 1. Adoption

Inventory Management Processes Given the core nature of the problem, it is important to take a look at the different concepts for more efficient inventory management practices in order to reduce the WIP inventory at all stages. Inventory management is one of the key concerns for manufacturing set ups in order to be successful. Manufacturers suffer from inefficient inventory management because of their business settings. Many operational and structural conditions cause inappropriate inventory management and inventory related problems surface every now and then. Some suggested areas that can address the cause for this pile up of inventory at every stage are as follows- Information Systems Firms should have a good information system to view accurate demand and inventory levels and to monitor policies more consistently in order to develop an efficient inventory management system.

Competition is the driving feature that controls the success and failure of business firms. The appropriateness of the activities of the business s firms than can add to it performance such as a cohesive environment, better strategy implementation or innovations is determined by the competition that the firm is into. However a competitive strategy is formulated my firms and industries so as to understand the fundamental arena of their competitive position