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All the things on this earth are changing gradually. We are very familiar with the word change of nature, change of weather or climate, change of season, change of science as well as technology, change of economy etc. So changefulness is the part of lives, we everyone should take it positively.
Managing change and innovation is a part of management and economics. It is the backbone of the economy of a country as well as a nation. To learn more contact myhomeworkhelp.com for its managing change and innovation homework help.
Bit about the topic
The subject deals with factors that is responsible for certain changes in the field of business and managements, how these changes effect on the business and the whole economy of the country. The effect may be positive sometime, but some time it may be negative also. The skill of managing those changes with its effects successfully is the power of the management.
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Reasons of changes
‘Change’ is the most certain and inevitable in this world. Innovation also comes through changes. Changes and innovations are happen in field of businessdue to some external as well as some internal reasons.
External reasons are,
- Needs, as well as expectation of the customers
- To sustain incompetition of market
- With application of new technology
- Cyclic order of economy
- Due to environmental changes
- Due to social and political changes
- Any structural changes of the industries
The internal reasons of changes are,
- Management decisions
- Operational problems
- With growth and decline of the business
- With the change of ownership or partnership
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