The developments may be classified as follows: SSH fit from Manufacturing to Service Industry * Increased uncertainty, Complexity and Risk Awareness * Restructuring of Rewards * Technology * Regulation * Information Overload * Pressure for Innovation/ Shorter Product Life Cycle * Increased Focus on Customer Satisfaction * Diversity Shift from Manufacturing to Service Industry This could be attributed to the fact that nowadays, engaging in mass reduction is risky, the product market has widened, consumers have more varieties to choose from.It thus may be concluded that in contemporary organizations, mass production has lost relevance leading to a decline in the manufacturing sector.
The growth of service sectors may be due to the fact that business leaders are increasingly focusing on the ‘customer is King’ principle, realizing that the more satisfied clients are, the higher the productivity. Increased Uncertainty, Complexity and Risk Awareness Ever noticed how phone shops in Zanzibar died a natural death?Or asked ourselves why Bat Shoe Company in Amassing is left with one branch from three since the emergence of Cross Country? What is the implication of meters installed by ZEES on energy consuming industries? The above scenarios indicate that contemporary business environments are unpredictable. This has forced organizations to narrow their focus. For example it has become difficult for organizations to engage in human resource planning as the future is uncertain.
Restructuring of Rewards due to reduced labor demand Rewards have been reduced or eliminated for jobs replaced by machinery.This also shows that today’s organizations are characterized by a low demand for labor. Technology In today’s business environment, tech oenology is a double edged sword.
.. So much of an investment (because it boosts competitive advantage e. G you purchase a machine that speeds up processes) as it is a cost (costly because technological advancement is rapid hence a machine purchased today may need to be replaced by a more advanced one 5 years from now and organizations may need to hire IT specialists and channel funds towards training) RegulationContemporary business environments function according to a set of rules and regulations egg those laid down in the Labor Act (28:01) and Environmental Management Act (20:27) etc.
The increase in female participation in the labor force is a result of regulation that is in support of equal employment opportunity. Other developments include paternity leave and charges for industrial waste and fumes emitted. Information Overload In today’s world, nothing is growing faster than information.The ability of companies and individuals to consume and make sense of information that’s available and necessary to make good decisions (egg decision support systems) is becoming an insurmountable challenge. It Was difficult to prepare for this presentation because encountered too many articles, years back with the aid of library material, I would have encountered a single book with insufficient information. Pressure for Innovation/ Shorter Product Life Cycle Due to the Accelerating rate of change, products last for a short time egg cell phone technology is advancing at a fast rate.