Introduction variety type of businesses. A crucial role

Introduction

 

Declan O’Connor is a Chief
Executive Officer of BQAI – ISO Standard Certification Body. Over 20 years of
experience in managing and auditing systems and SME sectors. Guest is also a
lecturer in MBA and Open University. Briefly,
describe the history where the standardization began. Discuss the ultimate
responsibility of the leadership in terms of the integrity of the standard to the Quality Management System. Highly
interacts with the audience where he answered the questions about issues taken
from the field of the business.  

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Internal and external
issues and opportunities that can enable a company in terms of success or
failure.

 

Organizations in nowadays world
are facing many challenges what have a significant impact in terms of its
achievement or fiascos.  To build
success, organizations must strive towards continuous improvement. It can be achieved throughout appropriate
allocation of knowledge and skills towards issues. Speaker gave us on overview
of two very useful tools that can be used to analyze problems from different
fields of the organization.

1.      
PESTEL
stands for Political, Economic, Social, Technological, Environmental and Legal factors and can be used to
examine exterior influences related to the variety type of businesses.  A crucial role
in that sort of study plays strategic thinking, caused
by the fast transformation of inputs. For
example tax, law, government, technology, inflation rate, access by road, is
changing 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 a
strategic planning process can help specialists to concentrate on the main
problems. Throughout the deep analysis,
the tool is a gain to change company’s weaknesses into strengths and threats to
opportunities.

Influences arising from the macro
level perspective in which business is operating are hard to control. Companies
cannot predict how the market is going to
behave, how politician decisions can change the environment, what will be the
cost of transportation and many more. Specialists can be aware of the external
effects and that could be the advantage to the corporate.

Micro level factors are impacting
day-to-day operations of the business. Leaders
will ‘play’ a crucial role in this process. Thanks to the commitment and
effectiveness of their decisions, work environment will indicate an increase in quality
and productivity. Other aspects underlying internal factors are:

·        
strategic planning

·        
innovation

·        
finance

·        
company culture and image, etc.

It is only a few examples of what
can 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. Managers
must develop risk reporting system for all divisions to make sure quality, profitability, and productivity would not be
disturbed. In the process of evaluating current and potential threats, appriopriate risk management will help find
opportunities 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 thinking
can have an optimistic effect regards to achieving
companies 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 positive
result to the company might include:

·        
Leadership style

·        
New technology

·        
Qualified workforce

·        
Internal communication

·        
Stability of government

    

Conclusions

 

Verification of the external and
internal factors is never going to be simple but appropriately maintained problems and usage of correct tools can
lead firms to be highly successful.   Good understanding of current and potencial risks and how to transofrm them into sucessful opportunity
will determine effectiveness and
adeptness of a good organization.        

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