Changes in Business
This paper examines some of the forces of change in a business environment and their impacts on companies, with special reference to the Australian market.
“Human beings are living in the world where there are rapid changes and high competitions. Changes in the social structures can have dramatic impacts on business. For example, an aging population will affect the planning of business in the hospitality industry. The changing role of women in society has had a major effect on the advertising and merchandising of products e.g. cigarette manufacturers now target young women more than men. Consumer awareness has had a significant impact on standards adopted in manufacturing children’s toys and equipment. Environmentally unsafe products and industries are increasingly under attack, while one of the most successful growth areas is in environmentally safe or friendly products. This included multicultural nature of Australian society. ”