Factors that drive change and a range of methods organisations can apply in response to change inc

there are many factors that can drive change within an organisation

Internal factors




External factors

political

Change in government

with any change in government there is usually a change in policy and regulation, this can be things such as changes in local and international trade, taxes, VAT, and minimum wage levels for employees

War - economic impacts

  • Lost GDP
  • Creates unemployment
  • Damage to buildings and infrastructure
  • raise in national debt meaning higher taxes
  • inflation
  • opportunity costs
  • phycological costs
  • new tech/innovation
  • decline in working population

Economic

meeting new funding/revenue streams

revenue streams are various sources from which a business can earn money from the sales of goods/services. the types of revenue/funding depends on the type of activities carried out, in order to improve the business's operations and profit, they should consider
  • how the business makes money
  • are current revenue streams appropriate
  • how can streams be changed to increase business income
revenue streams may include
  • income from sales
  • interest revenue
  • rent revenue
  • dividend revenue
funding streams are financed in two main ways
  • Debt - Financing includes business loans and short term loans to finance the cost of new equipment over shorter time piriods
  • equity finance is provided in exchange for ownership interest to a person or group of people eg shares

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