Title: The changing business scenario antecedents and consequences of change factors: evidence from Pakistan

Authors: Saquib Yusaf Janjua; Jürgen Mühlbacher

Addresses: Department of Management Sciences, COMSATS Institute of Information Technology, Park Road, Chak Shahzad, Islamabad, Pakistan ' Vienna University of Economics and Business, Augasse 2-6, 1080, Wien, Austria

Abstract: The changes in the business environment have great implication and influence on business strategy. The performance of the firms are mostly determined by their ability to anticipate, understand and encounter these business opportunities and threats better than competitors. This is more pertinent when strategic managers devise a strategy to capitalise on future opportunities and make adjustment in strategy, structure and systems according to the anticipated shift in the business environment. In this perspective, the paper reports on which drivers of change are likely to shift the focus of business in Pakistan. It identifies and analysis in greater detail the impact of these factors on business organisations and the economy of Pakistan to suggest the remedies and solutions in changing scenario. To analyse the interaction and dependency among drivers of change Tetrad software was used to find out the underlying relationships in order to interpret the results in more meaningful way. The paper indicates that externally driven factors perceive as a major threat for business in Pakistan. On the other hand to cope up with crises and compete in the global world, the management has to pay attention towards human resource development and to re-ignite the organisational change process to reap the benefits of globalisation. The paper has implication for both policy makers and business practitioners.

Keywords: drivers of change; internal developments; external developments; business challenges; Pakistan; change factors; human resource development; HRD; organisational change; globalisation.

DOI: 10.1504/IJBG.2014.059458

International Journal of Business and Globalisation, 2014 Vol.12 No.2, pp.125 - 141

Received: 08 May 2021
Accepted: 12 May 2021

Published online: 21 Feb 2014 *

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