Answer to Question #175777 in Management for bashir ilavbare

Question

How do societal trend influence the practice of management

Answer 1

Firms operating in the moden world continue to face pressure from the society who are a major stakeholder in the business environment. As a result of this pressure, the management plays an integral role in keeping tabs with changes in attitudes and lifestyles in the society. Over the years, these changes have had a significant implications on the management practices and the capacity of a business to develop new and existing markets. For example, proliferation of technology among households pushed the management to align their organizations with the dynamics of e-commerce.