Your assignment is to prepare and submit a paper on the changes in business strategies for the royal furniture. In order to cope with these challenges, Royal Furniture has to bring a positive change in the company’s overall structure through the integration of change management, organizational behavior, and corporate strategies. This is important to sustain long-term modifications because critics argue that change management comes along with unavoidable risks and failures (Burnes, 2009). Hence Royal Furniture would have to critically evaluate its past and present performance prior to making future strategies.
The Royal Furniture is operating in the international furniture industry for more than four decades. However, the company is currently facing immense challenges in terms of business policies, structure, and people. For instance, competition is drastically increasing because competitors are implementing new management and marketing strategies. Moreover, the business environment all over the world is now dominated by customized products and services. This has persuaded many organizations to change their traditional business structure and policies. Globalization has greatly facilitated business expansion while unveiling new markets and business opportunities, but it has also boosted the competition in the international consumer market subsequently leading to the change in business environment (Gottschalk, 2007).
The consumer mindset is transforming as per the latest trends prevailing in the society which has been facilitated by intense communication networks. Social networking and internet marketing has proved fairly beneficial to the progress and development of different organizations. .