Economic and Socio-economic Factors
Table of Contents
GLOBAL BUSINESS ENVIRONMENT FORCES5
ECONOMIC AND SOCIO-ECONOMIC FORCES7
LEVELS OF ECONOMIC DEVELOPMENT9
This report analyzes the practical implication and analysis of some of the important aspects of Organizational Behavior in two organizations - Buddha Air and Yeti Airlines and presents some recommendations on motivation, use of technology and other aspects. The analysis and interpretation of the report is solely based on the small survey, questionnaire limited to few aspects of OB and interviews with the manager of the organizations.
The major content of this report is based on the analysis of the impact of biographical characteristics on employee output, ability job fit, personality and organization fit, comparison of motivational practices, desirable and non desirable behavior of employee at work. Regarding our analysis, we have tried to compare our results with general view. In some cases, it showed similarity and in some cases there were contrasting results. Because of the time factor, employees’ biases and small sample size survey, our results could not be generalized and compared with any empirical evidence, so we may have had contrasting results. To motivate employees, both the organizations use the practices of giving bonuses, fringe benefits, festival leaves and allowances, regular job rotation, trainings, appraisal system and others.
The desirable behavior in both the organizations can be numerated as time and efficiency concern, commitment to duty, initiative and resourceful, dependability, willingness and readiness to perform, interpersonal skills, personal effectiveness where some of the undesirable behaviors were indiscipline, unreliability, job incompetency, unethical behaviors, unsystematic and unorganized approach to job.
Buddha Air and Yeti Airlines concentrates on modern technological advances to design a systematic communication channel, participatory management, more training programs and workshops, rewards system to effectively manage its employees. Global Business Environment Forces
Business environment is the total situation of all the factors or forces surrounding and influencing operation and development of a business firm or company. The ICFAI center for management research state that the global business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision making on resource use and capabilities. Forces outside the firm’s traditional boundaries are increasingly important in determining the firm’s success. These forces in “the environment of business” differ among nations and over time, continually confronting the firm with new issues that require modifications in strategies and management practices.
Global business and marketing strategies are highly influenced and determined by the findings an analysis of foreign and international environmental forces. Simply knowing the demand situation, customer’s behaviors and operational forces in market is inadequate. In the case of international business or marketing a detailed analysis of environmental forces must be done. The environmental forces that play an important role are as follows: 1. Political forces
2. Legal forces
3. Socio-culture forces
4. Economic and socio-economic forces
5. Financial forces
6. Labor forces
These factors and changes in them present both threats and opportunities that require shifts in marketing plans. To spot trends and other signals that conditions may be in flux, marketers must continually monitor the environment in which their companies operate. To get a better idea of...