Discussion board week 2 Assignment Example | Topics and Well Written Essays - 250 words - 1

Discussion board week 2 - Assignment Example gists who keep abreast with the emerging technology trends to remain flexible and to take advantage of unforeseen developments in technology (Steers, 2010). Innovation is another problem facing most organizations today. In order to meet customer needs and specifications organizations today need to invest in innovation (Barret, 2005). They are eager to create advanced cultures in innovation. The management may analyze competition and use innovation processes to satisfy customers while maintaining the company’s mission, goals, and objectives. Uncertainty in supply driven by the changes in commodity prices, disruptions in weather changes, increased costs of raw materials and competition makes supply planning more challenging (Stecher, 2004). The solution to this problem is having proper pricing strategies and developing a supply chain strategy that minimizes supply of commodities and that which ensures the lowest costs. Globalization is another challenge that organizations face. It is important to understand foreign cultures to penetrate new markets. In addition, organizations need to penetrate new markets with existing products and designing products and services for customers who are new (Galliers, 2003). Have proper channel designs that ensure that products are available for consumption. Organizations need to understand new markets and cultures by effective planning, and managing cultural differences in order to be successful globally. Organizations face challenges from government policies and regulations from different countries. Increased costs due to the payment of taxes that are ever changing. Some governments have put barriers on some products, therefore making it difficult to conduct business. Managers need to understand the policies put by the government before conducting