SOCIAL DEMAND

Monitoring Social Demand and Social Response Mechanism



Table of Contents

Thesis Statement1

Introduction1

Conclusion7

References8

Monitoring Social Demand and Social Response Mechanism

Thesis Statement

Companies are increasingly engaging in identifying and managing social demand with a proactive approach.

Introduction

The business environment today is characterized as highly dynamic and fluctuating. Various factors in conjunction affect the business performance. The idea that only the economic factors are relevant to the firm is obsolete and business today conduct political, economic, social, technological, environmental, and legal environments to analyse the external environment. One of these factors is the social environment which is becoming increasingly important. The social demands are continuously highlighted because of their importance. Companies engage in systematic formal processes to identify these social demands and develop mechanism to effectively address these demands. This paper provides a discussion on the social demand identification and monitoring mechanism in the organizations today, and also how they respond to these changes. This paper does not provide an exhaustive list of systems that are employed by the companies in addressing the social demands however; it presents the popular and effective systems recognized in businesses across boundaries and cultures.

Discussion

The only thing constant in this world is the change itself. The environment of the businesses is taking quick dives and bringing new challenges every now and then. The society is a complex concept that inherits change and evolution. Sometimes the change is so fast that it becomes difficult to asses whether it is evolution or revolution. However, one thing is a fact that, companies need to assess and manage change otherwise change will eliminate the business. Managers in organizations make continuous efforts to identify changes that are relevant to the firm, and are most likely to hurt the company's performance if taken into account.

Resources are limited but no the issues, therefore, companies need to assess which of the issues are relevant, important and immediate in nature. The criteria should be developed to assess the relevancy and importance of each factor. The customers are at the centre of this matrix, since they are the one to decide ultimately what is important to them. It is the responsibility of top management to develop systems to effectively cater to these needs of customers.

Companies engage in different practices to assess the changes in environment. The methods to assess he environment to scan for social demands and issues differ from informal to highly informal. Generally, the larger the company, the more formal the process. In the informal mechanism to assess the environment, the top management or some time even the chief executive only, engage in the assessment of the environment. In this informal approach to assessment of social demands and issues, the process of assessing the importance of each demand or issue is lacking. Therefore, the decision to act to a demand solely rests on the description of the top management. Furthermore, the monitoring and control of response is also informal and the determination of whether the response was effective or not remains a matter of ...