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DEAR SIR,, EVERY ONE OUT OF YOUR COMPANY IS EXTERNAL MARKET FORCE even most of the time you have to face internal market competitive forces inside your organisation.
The market forces can be termed as resistance to doing business. There could be two types of resistance to a business i.e External resistance and Internal resistance.
Examples of external resistance are: natural calamities, Change of regulations, Bilateral agreements between countries etc. Internal resistance might comprise examples like lack of infrastructure, human capital, absenteeism, lack of knowledge, lack of planning and strategy, improper implementation, lack of funds and resources technological changes etc etc.
One has no control over external resistance where as one can exercise positive control to overcome the forces of internal resistance.
For any given business, given the competitive global, fast paced business environment, the challenges of overcoming external and internal resistance matters most and one must gear-up to overcome the same. Because of the escalating resistance, a business unit is required to work harder and harder to make an impact on the market place. Greater the impact better the results for the organization. If a organization has impacted the market place to get a profitable X return in one year, it is required to make a greater efforts to achieve similar results the next year in view of the ever changing market dynamics and increased resistance. As the saying goes, one is required to run to be in the same place given the competitive red ocean like business environment. Therefore if one is aiming at a certain greater result X + more & more efforts need to be put in towards creating a greater impact on the market place. So how this could be achieved?
Impact is a function of skills, knowledge and process. To be able to make an impact on the market place, they should create a team of duly qualified personnel with Knowledge relevant to the organization’s offering, optimized skills and reliable processes. The fourth and most important aspect is the creation of this team of personnel whose “spirit within is awakened” to the needs of the organization. Without the commitment of these awakened spirits, all the other three namely knowledge, skills and processes alone cannot contribute to the growth and success! As such Top Management must strive to create a positive work environment and must consistently keep communicating the chosen goals of the organization effectively to all levels of employees in the organization so as to ensure whole hearted participation of all concerned towards excellence and growth
One of the best techniques to understand market forces is to through compettive analysis using the5-forces model presented by Dr. Porter.
I think I have been through a demand reversal once. I made sure to support my current customer base and capitalized on the spare resources to improve and develop my products.
Forces of market is related to the kind of industry and the strategy that we will adopt.
e.g., if we adopt the red ocean strategy, we must take in mind the competition and the value-cost trade off.
But if we adopt the blue ocean strategy, we must take in mind the value innovation.
The pulse of market is difficult to read in this ever changing economic situation. The marketing gurus based on the data collected , the ongoing trend and supply of the products.
The best way to deal with is to have complete data , information both historical and trend based on farecast. Understand marketing dynamics and deal with it as it happens mitigating the emerging risks.
The market forces can be termed as resistance to doing business. There could be two types of resistance to a business i.e External resistance and Internal resistance.
Examples of external resistance are: natural calamities, Change of regulations, Bilateral agreements between countries etc. Internal resistance might comprise examples like lack of infrastructure, human capital, absenteeism, lack of knowledge, lack of planning and strategy, improper implementation, lack of funds and resources technological changes etc etc.
