M/508/0421 - Effective Strategic Decision Making In Whirlpool Corporation

TASK

Discuss and measure the impact and response of key dynamic forces in the contemporary business world

In business environment, the continuous changes and modifications can be evaluated and measured that result which create large number of issues and challenges due to the existence of various factors and different components in proper manner. Along with this, this is essential for analysing and examining the dynamic forces which directly effect on management process in various manner (Burritt, Schaltegger and Zvezdov, 2011). In this, business organisation required to bring out their business operations and effectively performing working procedures in external business environment that is beyond the control and this has been taken into consideration for maintaining their sustainability and image of specific products.

There are certain forces which directly impact on Whirlpool that are described as under:

Globalisation procedures – This is considered as one of the crucial and vital concept where whirlpool require to face large number of threats and opportunities in better manner. Along with this, there are various major key areas which has been included in this concept such application, authorities rules and regulations, lifestyle that have to be ascertained while carrying out the process of working (Chatterjee, 2014). Whirlpool corporation has been facing certain financial issues which comprises of mobilisation of strategic coalition, capital consideration and some others.

Political forces – There are various political factors which have directly effect on whirlpool functioning and activities but they required to taken into consideration at the time of bringing out their effective process of working system. This will includes technical standards, reduction in policies and strategies relates to trade barriers or issues which has been faced by firm operating at international level, also various other issues associated with intellectual property rights. All such components positioning high effect on business concern schemes or system.

Economic factors – Whirlpool corporation operating in different places or locations which are situated in several nations. Therefore, there are large number of economical situation and condition that has been taking place which directly impact on business operation and its functions of organisation. This is changing and difficult process of international competitive area which are beyond control and also they required to maintain or managed this factors in proper manner. Another factors includes the condition of various market factors, financial markets and many others.

Technological factors – Whirlpool corporation mainly deal in home appliances goods and they need to do work in the technological situations and condition which are prevailing in specific nations. They required to adopt and use different techniques and methods which help in increasing company income and profitability for attracting large number of customers. Therefore, firm have to determine such factors of evaluation system, industrialization etc. this is that method and factors which help in adopting current techniques and methods that can help in maintaining business operations and its functions effectively (Child, 2015). For this, the firm can easily gain high amount of income and profitability in proper manner. Through this, they can maintaining and evaluating all business operations and functions properly within an organisation.

Social factors – This will help in dynamic forces which have to required for conducting by the Whirlpool according to the economy which has to be operated or regulated in effective manner. Along with this, it is essential for considering the customers taste and preferences so that only such products and services need to be satisfied towards their services and products that has to be established. This driving factors includes number of factors such as customers preferences, taste, skills, education level so firm have to make effective decision regarding their society welfare as well as their people.

Corporate social responsibilities (CSR) – It is that forces which has to be carry out various functions and activities which mainly concentrate on increasing the society level in better manner. Therefore, Whirlpool need to direct their working functions or activities which mainly focus on rendering help to their society and community people. Along with this, whirlpool require to conduct various charity program and events which focus on different contemporary issues (Fang, 2012). Also they are usually focus on adopting various actions of environmental prevention and protection from certain harm.

Response of the key dynamic forces

As per the above discussion different dynamic forces has been suggested or observed which has bee facing by business concern so firm required to response this effectively which negatively effects and it can reduced and also set appropriate results or outcomes that can be achieved in proper manner. These are described as under:

Technological factors – It is that factor which required different alterations or modifications that has to be taken place which have to be adopted by Whirlpool manner so these business operations and functions does not hinder it any more. The management of organisation require to use or choose latest digital technology procedures in their working methods so that they can be able for processing their competitive edge in the current position of market. Along with this, digital technology need to update and upgraded system thus this can be adopting advanced and modern technological procedures which assist in accomplishing with high success and growth level (Hammer, 2015). Technological factors are variables which can be used for formulating and evaluating desired options in respect of technique capability. An organisation determined that it is essential method for improving business operations and its functions. Along with this, technological current trends are directly affecting businesses on different levels. If this factor are changing the way so this will perform effective functions of marketing in appropriate mode. With the help of required data, the firm can easily operated a