Hoosier Media Inc is a newspaper printing company faced with several challenges in its operations. For the last five years, its client's subscription has declined resulting to low revenues for the company. Although its online ad revenues have improved, they account for a less percentage of the company's revenue. Therefore, its primary focus is to improve its operations as fast as possible. As a result, since my work is to help companies improve their performances, Hoosier Media Inc. business has invited me to analyze the company and recommend approaches it should adapt to enhance its performances.
Identify Economic, Legal, and Regulatory Forces and Trends
Some of the economies trends that will improve the operations of Hoosier Media Inc. Company include inflations, the confidence of consumer, interest rates and the rates of interests. The company will also need to focus on several legal trends for its operation improvements. Some of the required legal trends include civil legislation, company law, and antimonopoly. Hoosier Media Inc. Company involves adhering to regulatory government rules that will govern where the company will operate as part of its regulatory trend. It needs to focus on a regulatory environment that comprises both domestic and foreign laws to regulate how the company should run.
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Critique :How Well the Organization Adapts To Change
Hoosier Media Inc. Company effectively adapts to changes in several ways. Most parts of the country are undergoing a severe economic recovery due to changes in economic trends. Therefore, the company is taking the changes as part of its operational advantages. For example, it is marketing its products to some of the old consumers who are currently recovering after they underwent a significant economic downturn (Friedrich & Wüstenhagen, 2017). The company is always optimistic such that it maintains a positive attitude and strives to avoid drowning itself in uncertainty. The company also adapts to some of the changes by keeping channels for open communication active. As a result, it is always acquainted with all emerging changes.
Discuss the Primary Internal Organizational Considerations
For the company operations to improve, it has to focus on its domestic organizational accounts. The first step is to develop a strategic workforce plan. The plan incorporates of strengths and weaknesses that face the company. Also, it should consider other factors such as the financial and cultural status of the business (Karadag, 2015). The culture and strategic plan are necessary for the company to improve in its operations because they offer it with the ability to adapt to changes and maneuver through the changing situations of the business. However, the possibility of maintaining the correct strategic course is dependent on whether the organizational culture of the company can adapt to changes.
Discuss the Primary External Organization Considerations
For the business to achieve its goals, it demands a well designed strategic plan that dictates the path the business plans should follow. The primary external considerations for the organization include the operating environment, remote environment and industry environment. Among the three environmental concerns, the working or operating environment is an essential factor for the primary external consideration of the business. For example, it considers workers, suppliers, competitors and all things that are related to the operations of the company.
Identify the Major Issues and/or Opportunities the Company Faces Based On Your Analysis
Based on my analysis, Hoosier Media Inc. Company encounters several issues and opportunities which limit its operations. The company faces some problems such as high demands on the safety of products as demanded by many consumers, poor standards and working conditions of the workers. Again, the company encounters threats due to high growth of market competition and massive growth of obsolete in technology. On the other hand, the company faces opportunities such as laws for safety, patent protection, equal legal levels of competition, and safety standards for the company. More so, the company has other opportunities such as a decrease in levels of unemployment as well as rapid growth of income in most of its operations.
Conclusion
Every company requires better analysis to identify whether its actions are improving or they are declining. The investigation involves identifying common legal, economic and regulatory trends that govern the business. However, for the company to enhance and make more profits, it first needs to discover how it should adapt to any change that manifests within and outside the business. More so, it should analyze both its primary internal and external considerations. Finally, it should seek to identify significant issues and opportunities it encounters in the process of its operation.
References
Friedrich, E., & Wüstenhagen, R. (2017). Leading organizations through the stages of grief: The development of negative emotions over environmental change. Business & Society, 56(2), 186-213.
Karadag, H. (2015). Financial management challenges in small and medium-sized enterprises: A strategic management approach. EMAJ: Emerging Markets Journal, 5(1), 26-40.
