Posted: December 30th, 2021
Compose a 500 words assignment on others. Needs to be plagiarism free! Module Case Study: Business Question Industry drivers of change are the forces that carry the most weight in the industry in general. These factors push firms to alter their strategies because the industry evolves. Drivers of change have their roots at the periphery of the macroeconomic environment and, in majority of industries, the inner segment of the microenvironment. Different industries have different drivers of change, but the most common include: consumer awareness, lifestyle changes, change in retailers’ interest, shift towards store goods, marketing innovation, technological change, entry or exit of key competitors, globalization, the Internet and the new dynamics it creates, decline in business risk and uncertainty, changes in efficiency and cost, changes in the long-term growth of the industry, changing societal issues and concerns, changes in product acquisition and use, influx of technical knowhow in more companies and countries, changes in government policy and regulations, and rising preference among consumers for differentiated goods rather than commodity goods (Hill and Jones 61).
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