Creative Change and Innovation are an integral part of business studies. Business Administration studies have been a preferred course of study for students worldwide. It enhances the scope of employment of students while also ascertaining growth in creative capacities.
Organizations all over the globe are undertaking steps in developing a robust innovative strategic business plan. The study of change and innovation for business management courses thus becomes exceedingly crucial.
Reasons for Change
As per the Creativity and Innovation Management Assignment Experts, there are essentially two major factors of change. The external and internal factors of change thus need to be evaluated carefully by the employees prior to formulating strategies.
External Factors of Change
Following are the external factors of change:
The needs and expectations of customers
Competition within the market
Application of new technologies
Environmental factors, including natural disasters such as a global pandemic
The cyclical order of the economy
Social and political changes
Structural intrinsic changes within the industry
Internal Factors of Change
In the following section, the internal factors are discussed:
Management decision making
Different operational issues
Growth and decline of the business
Change within ownership and partnership.
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