Introduction variety type of businesses. A crucial role

Topic: BusinessCompany
Sample donated:
Last updated: May 19, 2019

Introduction Declan O’Connor is a ChiefExecutive Officer of BQAI – ISO Standard Certification Body.

Over 20 years ofexperience in managing and auditing systems and SME sectors. Guest is also alecturer in MBA and Open University. Briefly,describe the history where the standardization began. Discuss the ultimateresponsibility of the leadership in terms of the integrity of the standard to the Quality Management System.

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Highlyinteracts with the audience where he answered the questions about issues takenfrom the field of the business.   Internal and externalissues and opportunities that can enable a company in terms of success orfailure. Organizations in nowadays worldare facing many challenges what have a significant impact in terms of itsachievement or fiascos.

  To buildsuccess, organizations must strive towards continuous improvement. It can be achieved throughout appropriateallocation of knowledge and skills towards issues. Speaker gave us on overviewof two very useful tools that can be used to analyze problems from differentfields of the organization.1.      PESTELstands for Political, Economic, Social, Technological, Environmental and Legal factors and can be used toexamine exterior influences related to the variety type of businesses.  A crucial rolein that sort of study plays strategic thinking, causedby the fast transformation of inputs.

Forexample tax, law, government, technology, inflation rate, access by road, ischanging all the time and company must be capable to track those modifications.2.      SWOT is an acronym for Strengths, Weaknesses,Opportunities, and Threats. Used in astrategic planning process can help specialists to concentrate on the mainproblems. Throughout the deep analysis,the tool is a gain to change company’s weaknesses into strengths and threats toopportunities. Influences arising from the macrolevel perspective in which business is operating are hard to control. Companiescannot predict how the market is going tobehave, how politician decisions can change the environment, what will be thecost of transportation and many more.

Specialists can be aware of the externaleffects and that could be the advantage to the corporate.Micro level factors are impactingday-to-day operations of the business. Leaderswill ‘play’ a crucial role in this process. Thanks to the commitment andeffectiveness of their decisions, work environment will indicate an increase in qualityand productivity. Other aspects underlying internal factors are: ·        strategic planning ·        innovation ·        finance ·        company culture and image, etc. It is only a few examples of whatcan bring positive results and companies accomplishment.

Identification of risks,opportunities, and benefits to the company. To identify risks affecting business is crucial for the firms. Managersmust develop risk reporting system for all divisions to make sure quality, profitability, and productivity would not bedisturbed. In the process of evaluating current and potential threats, appriopriate risk management will help findopportunities to the corporate and increase completive edge on the market.

  All supportive events in that process can use a variety of tools like:·        Brainstorming sessions ·        External and internal analysis ·        Interactive group workshops ·        Process flow analysis etc.    The old-fashion view of threats is negative but current risk thinkingcan have an optimistic effect regards to achievingcompanies goals. Effective risk management will maximize the prospect but only under certain circumstances.Chance of positive response to the opportunity must be achievable,affordable, assessed, appropriate and accepted. Examples of the potential risk that might have a positiveresult to the company might include:·        Leadership style ·        New technology ·        Qualified workforce ·        Internal communication ·        Stability of government      Conclusions  Verification of the external andinternal factors is never going to be simple but appropriately maintained problems and usage of correct tools canlead firms to be highly successful.   Good understanding of current and potencial risks and how to transofrm them into sucessful opportunitywill determine effectiveness andadeptness of a good organization.



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