Business Environment Assignment Where Are We Headed - 275 Words

Business Environment Assignment: Where Are We Headed (Essay Sample) Content: Where are we headed?Name:Institution:IntroductionThe business environment is rapidly changing and businesses have to be prepared for some of the biggest challenges yet to come. According to Nonaka (2007), there are a number of challenges that business entities will have to contend with in the coming years and for that reason, business entities willing to remain relevant will have to innovate to address these challenges.According to Drucker (1985), the biggest challenge that businesses will face in the coming years is meeting the increasing customer expectation, competition and the need to create distinction in the marketplace so that customers can tell the difference between companies. Ignatius (2017) asserts that technology and the internet has killed the hype. Nobody will really care about what companies will say anymore, be it online or advertising as recent customer research indicates that buyers will be only going online to check product reviews before making pur chases.Drucker (1985) argues that to address the aforementioned challenges, business entities will have to master the art of change or innovation. Companies that challenge themselves to come with new ways of improving will survive. Business entities who master the art of providing great customer experience, such as meeting the ever changing customer expectations will win the sale. Without innovating, organizations risk closing business to some of the most competitive business entities within their surroundings.ConclusionThe business environment is chall...