Jeston (2014) asserted that managers are experiencing difficulties in managing and forecasting future trends because of the complexity involved in obtaining the data needed for forecasting. Managers face significant limitations in their bid to acquire data required for understanding the emerging markets. Even if the data is available, its acquisition can be implicated due to its expensive costs and the unreliability involved. Alvesson and Sveningsson (2015) asserted that managers have an important especially in monitoring change in an emerging global market. Such markets are essential due to their role in providing huge business opportunities that are ever-expanding. Assessing the changes remains a critical work in the managers who must make decisions regarding their entry into the emerging markets.
Some of the tools that could be used to monitor the global market include the gross domestic product (GDP) of a particular country and the strength of their currency. The GDP will determine the productivity of a country, and the currency strength will signal the importance of operating in a particular economy (Benn, Edwards, & Williams, 2014). In my life, the largest organizational change I have experienced was a migration from an offline to online shopping for a retail shop that wanted to cut on its overhead costs. In this endeavor, the company had to retrench its workers as it only needed those whose competencies conformed to their online needs. The change was also driven by the need to respond to the market demands as more people wanted the efficiency that comes with online shopping.
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The change had several impacts including the reduction in the overall expenditure of the company as it did not have to pay for electricity, water, and rent bills. However, through its online platform, it reached a wide array of customers both at the local and international scene. At the team level, employees were required to show innovation and creativity, especially in marketing because this was the only way of convincing the customers especially with the lack of a physical presence.
References
Alvesson, M., & Sveningsson, S. (2015). Changing organizational culture: Cultural change work in progress. Routledge.
Benn, S., Edwards, M., & Williams, T. (2014). Organizational change for corporate sustainability. Routledge.
Jeston, J. (2014). Business process management. Routledge.
