Introduction
Productivity is a major issue of concern and the case is not different in Hoosier Media Inc. This implies that having in place a concrete working framework is fundamental for the growth of any given institution in the current global environment. As a result, a holistic assessment of both the internal and the external environment is critical as it helps to root out the specific components which determine the success of the firm. Thus, this essay examines the specific mechanisms which Hoosier Media Inc. can set in place in order to enhance its level of productivity.
Identify Economic, Legal and Regulatory Forces and Trends
In any given corporate setting, it is critical to bear in mind the economic, legal and regulatory elements and the trends in the corporate world. Kaufmann argues that the human resource department is bestowed with the task of sourcing vital information for use in running the corporation (Kaufmann, 2017). Considering this fact, Hoosier Media Inc. is obliged to locate an economy which is growing at a steady rate, as it will work to provide the firm a fresh client base. Furthermore, the legal and the regulatory framework established by the local government should be flexible and able to support the operations of the firm. For instance, increased taxes and difficulties in accessing licenses can be seen as an element which will affect the productivity of the organization. Moreover, trends such as technological innovations may not have been deployed effectively in the corporation and this can be linked with the retarded progress noted in the institution.
Delegate your assignment to our experts and they will do the rest.
Critique How Well the Organization Adapts to Change
From the analysis of the entire institution it is critical to note that Hoosier Media Inc. has not fully adapted to change in the corporate world. Elmes affirms that the most preferred act to partake by such an institution is to ensure the institution’s management sets in place affirmative plans that are in accordance with the current trends (Elmes & Barry, 2017) . As a result, 5% of the total revenue emanates from the use of online advertisements. The statistics shows the institution has not fully embraced technology.
Discuss the Primary Internal Organizational Considerations
Strategic planning is a fundamental concept to adopt in any institution. Elmes shares that the ability to understand all the internal forces works to ensure that all the production channels are explored to bring out the expected positive returns (Elmes & Barry, 2017). The culture and the structure of the organization are some of the fundamental internal aspects which Hoosier Media Inc. has to consider for them to increase revenue generation. In essence, the firm should consider having in place a culture which embraces diversity as this will aid in the employment of individuals from different races and this will boost the innovative and creative aspect of the institution.
Discuss the Primary External Organization Considerations
For Hoosier Inc. to comprehensively counter the 30% decrease in revenue for the past five years, it is fundamental to consider the external orientation of the corporation. Lozano points out that it is the responsibility of the leader to determine all the external factors which affect the productivity of the firm (Lozano, 2015). One of the major external factors Hoosier media firm has to consider is the technological advancements. The firm has to incorporate technology in the operations such as advertising and improving customer communication. By doing so, the customers are in a position to receive faster communication or information from the institution. Identify the Major Issues and/or Opportunities the Company Faces Based on your Analysis.
The corporate environment has many opportunities which the firm can capitalize on. Enhancing technological use is a bright venture for the firm in the twenty first technological environment. Reinforcing both online and print advertisements will increase firm profits. On the other hand, the adoption of a charismatic leadership style will help in the smooth flow of information and tapping of new talents in the institution.
References
Elmes, M., & Barry, D. (2017). Strategy retold: Toward a narrative view of strategic discourse. In the Aesthetic Turn in Management (pp. 39-62). Routledge.
Kaufmann, W. (2017). Going by the book: The problem of regulatory unreasonableness . Routledge.
Lozano, R. (2015). A holistic perspective on corporate sustainability drivers. Corporate Social Responsibility and Environmental Management , 22 (1), 32-44.
