Heres the task
- The management of a large australian manufacturing company (Latham White Goods Ltd) located in a suburb of Sydney has made the decision to have many of its components manufactured overseas instead of having all parts manufactured in australia. As a result 30% of the workforce will become redundant
- Write a business report to the owners of this company that:
- describes and identifies the internal and external influences that may have brought about this management decision
- Identifies major stakeholders and discusses the impacts of this decision on them
- Outlines the possible sources of resistance to this management decision and accounts for the resistance.
- Evaluates a range of strategies management could use to manage the change effectively
When it says "Write a business report to the owners of this company" how do you start off the report? Dear owners of Latham White Goods Ltd?!
At the moment I have done half of the internal and external influences
Internal and External influences
This is it
The forces driving change come from both outside (external) and within (internal) the business. Changes within the external environment make it necessary for managers to make adjustments to business operations.
External
- The changing nature of markets – Latham White Goods Ltd competes in variety of markets for “resources that are used in the productivity of goods and services’ and “the sale of finished products”. Any changes in the market for resources or finished products may have an impact on the external business environment for Latham White Goods Ltd. Globalisation is turning the world into a single market with hi-tech communication, lower transport cost, unrestricted trade and financial flows. This means Latham White Goods Ltd and other business has to compete with overseas market. Latham White Goods Ltd has made a decision to have many of it’s components made overseas. This may have been caused by the changing nature of markets.
- Economic influences – Fluctuations in the level of economic activity in all market, economies and achieving smooth, measured growth rates is not possible. Large fluctuations in the level of economic activity will adversely affect all members of society in one way or another. It is the government’s responsibility to minimize fluctuations in the business cycle. Policies of governments to reduce these fluctuations are called counter-cyclical policies. Counter-cyclical policies are used to influence the behavior of the economy on a macroeconomic and microeconomic scale. Latham White Goods Ltd may have been affected by the macroeconomic level of counter-cyclical policies from increasing interest rates. Due to high interest rates people may decide to save their money rather then spend it. This may mean less profit levels for Latham White Goods Ltd. To maintain or increase their profit level Latham White Goods ltd would have identified that having many components manufactured overseas would save money and increase productivity which may result in increased profit levels and additionally increased productivity.
- Financial Markets – Due to globalization of the world’s financial markets it is no longer necessary for many large Australian business to use only domestic financial institutions for the raising of finance. Developments in communications technology have enabled the phenomenon of global financial transactions. Global financial speculators may now easily make transactions spread across the globe. This is a short yet one of the most possible reasons for Latham White Goods Ltd to process overseas. It is easier and more profitable to manufacture components overseas then domestically.
- Geographical influences – Two major factors that could have had an impact on Latham White Goods Ltd manufacturing many components overseas are Australia’s geographic location within the Asia-pacific region and the economic growth in a number of Asian nations. Let’s assume that the overseas country that Latham White Goods Ltd is going for is somewhere in Asia. Asia is right next door to Australia for one and two Asia’s population is high which can mean unemployment rates are high which also mean job wages may be reduced. With this in mind it would be a smart move for Latham White Goods Ltd to go overseas to increase productivity and profit levels.
- Social influences
- Legal influences
- Political influences
- Technological influences
Internal influences
- Effects of accelerating technological change
- E-commerce
- New systems and procedures
- New business cultures
Can someone help me? ie give me tips, correct mistakes, tell me it's good so far or something please.
- The management of a large australian manufacturing company (Latham White Goods Ltd) located in a suburb of Sydney has made the decision to have many of its components manufactured overseas instead of having all parts manufactured in australia. As a result 30% of the workforce will become redundant
- Write a business report to the owners of this company that:
- describes and identifies the internal and external influences that may have brought about this management decision
- Identifies major stakeholders and discusses the impacts of this decision on them
- Outlines the possible sources of resistance to this management decision and accounts for the resistance.
- Evaluates a range of strategies management could use to manage the change effectively
When it says "Write a business report to the owners of this company" how do you start off the report? Dear owners of Latham White Goods Ltd?!
At the moment I have done half of the internal and external influences
Internal and External influences
This is it
The forces driving change come from both outside (external) and within (internal) the business. Changes within the external environment make it necessary for managers to make adjustments to business operations.
External
- The changing nature of markets – Latham White Goods Ltd competes in variety of markets for “resources that are used in the productivity of goods and services’ and “the sale of finished products”. Any changes in the market for resources or finished products may have an impact on the external business environment for Latham White Goods Ltd. Globalisation is turning the world into a single market with hi-tech communication, lower transport cost, unrestricted trade and financial flows. This means Latham White Goods Ltd and other business has to compete with overseas market. Latham White Goods Ltd has made a decision to have many of it’s components made overseas. This may have been caused by the changing nature of markets.
- Economic influences – Fluctuations in the level of economic activity in all market, economies and achieving smooth, measured growth rates is not possible. Large fluctuations in the level of economic activity will adversely affect all members of society in one way or another. It is the government’s responsibility to minimize fluctuations in the business cycle. Policies of governments to reduce these fluctuations are called counter-cyclical policies. Counter-cyclical policies are used to influence the behavior of the economy on a macroeconomic and microeconomic scale. Latham White Goods Ltd may have been affected by the macroeconomic level of counter-cyclical policies from increasing interest rates. Due to high interest rates people may decide to save their money rather then spend it. This may mean less profit levels for Latham White Goods Ltd. To maintain or increase their profit level Latham White Goods ltd would have identified that having many components manufactured overseas would save money and increase productivity which may result in increased profit levels and additionally increased productivity.
- Financial Markets – Due to globalization of the world’s financial markets it is no longer necessary for many large Australian business to use only domestic financial institutions for the raising of finance. Developments in communications technology have enabled the phenomenon of global financial transactions. Global financial speculators may now easily make transactions spread across the globe. This is a short yet one of the most possible reasons for Latham White Goods Ltd to process overseas. It is easier and more profitable to manufacture components overseas then domestically.
- Geographical influences – Two major factors that could have had an impact on Latham White Goods Ltd manufacturing many components overseas are Australia’s geographic location within the Asia-pacific region and the economic growth in a number of Asian nations. Let’s assume that the overseas country that Latham White Goods Ltd is going for is somewhere in Asia. Asia is right next door to Australia for one and two Asia’s population is high which can mean unemployment rates are high which also mean job wages may be reduced. With this in mind it would be a smart move for Latham White Goods Ltd to go overseas to increase productivity and profit levels.
- Social influences
- Legal influences
- Political influences
- Technological influences
Internal influences
- Effects of accelerating technological change
- E-commerce
- New systems and procedures
- New business cultures
Can someone help me? ie give me tips, correct mistakes, tell me it's good so far or something please.