Showing Page:
1/8
Running head: CONTEXTUAL FACTORS 1
Contextual Factors
Student’s Name
Institutional Affiliation
Contextual Factors
Introduction
Contextual factors are important in any organization. The reason is that they help people
have a clear understanding of their organization. They also help the company to know how to
deal with a situation depending on the organizational structure. Nonetheless, there are various
examples of these contextual factors. They include; environmental forces, risks confronting the
Showing Page:
2/8
CONTEXTUAL FACTORS 2
company, governance and organizational structures, business practices and organization and the
role of diversity companies. All these factors are equally important and none is above the other
(Conklin, 2004). The best part of it is that they help managers come up with useful decisions that
will affect the firms positively and they also teach them good management skills. For instance,
the issue of risks confronting a firm helps managers to have clear knowledge of how they will
deal with potential risks in the organization. Environmental forces teach managers on the issues
that surround the decisions they make.
Annotated Bibliography
Conklin, David. (2004). “Designing a New Course: The Global Environment For Business.”
Journal of international Business Education. Retrieved from:
www.neilsonjournals.com/JIBE/sConklin.pdf
The main contextual factor that is being discussed in the journal is environmental forces.
In accordance to Conklin (2004), it is evident that environmental forces have a role to play in the
business world. The findings related to the contextual factor are that there are relationships
between environmental forces and the performance of various businesses. It has also discovered
that there are five sets of environmental forces in relations to business. The first is the industry
structure. In this force there are various responses to customer’s strategies, suppliers and
competitors and it also is dependent on profitability of the attributes that are value- added. The
second environmental force is macroeconomic variables. In this environmental force, there are
income levels and growth rates. It also focuses on how unemployment rates affect the business
sector. Thirdly, political variables are the third environmental force. In this force, there is
existence of restrictions and international trade, regulations and investment agreements. In
addition to that, the other environmental force affecting the business arena is societal variables.
Showing Page:
3/8
CONTEXTUAL FACTORS 3
Some examples of the variables in the society are labor and environmental practices, social
responsibility and demographics (Conklin, 2004). Technological variables are the third
environmental force. Some examples of this force include technological infrastructure and the
internet.
The findings in the article have various meanings for the managers. The first is that
managers should ensure that they are advanced in technology in a bid to ensure that there is
effectiveness in the company (Conklin, 2004). Moreover, managers should also be cautious of
these environmental forces and know how they affect the company. They should also learn the
when a force brings about a negative effect.
Folami, Lookman( 2011). “ A multidisciplinary Approach to Risk Management in Accounting
Firms.” Journal of Applied Business Research: DOI: 10.19030/jabr.v18i4.2130
The contextual factor being discussed about in this article is risks confronting a firm. In
any company, risks are inevitable. However, there are various methods that could be used to
manage these risks. Folami (2011) looks at ways of managing risks that confront an accounting
company using approaches that are multidisciplinary.
Some of the findings of the article were that there are various approaches that could be
used to manage risks. The first is through the act of limiting consideration to help manage the
risk of litigation. This approach mainly focuses on exposing litigation in accounting firms.
The article also discovered that there are risks between risk reduction and aversion. When
the degree of risk aversion increases, there is n increase in demand for the risk. Similarly, when
there is a decrease in the degree of risk aversion, there is a decrease in the demand for risks.
However, it is factual to say that the more the risk the more averse the company is and the more
the risk is present in a firm, it will invest in ways of reducing risks (Folami, 2011).
Showing Page:
4/8
CONTEXTUAL FACTORS 4
The findings in the article have also helped managers in an organization. They help the
managers know that when risks confront a company, it does not mean that they are failures.
Moreover, it also helps the managers find new ways of solving risks in the organization (Folami,
2011).
Rowland, Kimberly & Simons, Starlene (2011). “Diversity and its Impact on Organizational
Performance: The Influence of Diversity Constructions on Expectations and Outcomes.”
Journal of Technology Management and Innovation. Retrieved from:
https://scielo.conicyt.cl/pdf/jotmi/v6n3/art13.pdf
The contextual; factor that the article is looking at is the functions of diversity firms.
From the article, there are new findings that have been developed from the new research that was
carried out. Rowland & Kimberly (2011) explain that managing diversity in the workplace was
essential. They argued that people who are different have origins have different cultures, beliefs
and they also have different ideas. Therefore, when diversity firms are present, there is the
incorporation of new ideas and the company grown uniquely.
The article also looks at the fact that there are challenges of diversity firms as they carry
out their function of acting as a unifying factor. The first is that there has been confusion
between functional diversity and the types of non- functional diversity are present. The most
common diversity in the workplace is functional diversity (Rowland & Kimberly, 2011).
However, there are other diversity forms that have been used as a form of making the companies
grow socially. From, the article, it is also true that there are various classifications of diversity.
They include; classification from an information and decision making perspective, a social
organization perspective, and through perspective integration.
Showing Page:
5/8
CONTEXTUAL FACTORS 5
The article teaches managers on various issues. The first lesson they learn is that they
should understand diversity and they should uphold it. Additionally, they also understand that
diversity has great advantage in the company and it should be managed at all costs (Rowland &
Kimberly, 2011). They should also educate the employees on how to make their companies
diversity firms and how to embrace each other in a bid to achieve the common goal of the
company.
Norén, Göran (2004) “Head of Department, Trade and Sustainable Development Confederation
of Swedish Enterprise. “ Journal of International Business Studies. Retrieved from:
https://www.svensktnaringsliv.se/...business.../The%20role%20of%20business%20in%
The main contextual factor that the article looks at is organization and business practices.
The article majorly looks at the role of businesses and organizations. The major findings from
the article are that there are various ways in which businesses and organizations benefit the
society. The first is that they create job opportunities for the community (Norén, 2004). People
tend to work in these companies as suppliers, distributors and even coworkers. They also pay
wages in a bid to buy goods. The company may also benefit from its activities. It invests in new
technology hence making it easier to provide faster services and make products faster.
Continually, firms also develop new goods, services and processes and they also build and
spread international standards like avoiding environmental emissions. They also supply goods
and services to their customers. Sometimes, these businesses and organizations spread good
practice in diverse areas.
From the findings from the article, it is also evident that managers learn. The first lesson
that they learn is that both the companies and the society benefit from each other(Norén, 2004).
Showing Page:
6/8
CONTEXTUAL FACTORS 6
This is viewed through the point that customers and labor is provided by the community and in
return, the company provides the society with different goods and services.
Governance hub (n.d). “Governance and Organizational Structures.” Journal of
Management. Accessed at: www.governancehub.org.uk
The primary contextual factor in the article is organizational structure or governance. In
accordance to Governance hub (n.d), there are various types of organizations and they have
different characteristics. They include; community enterprise, member’s club, co-operatives and
social enterprise. These organizations are different depending on their general characteristics,
management and their status in the society. In most cases, the society does not recognize a
member’s club. It is also evident that there is a difference between incorporation and
unincorporation members. Incorporation has a basic meaning of creating an organization’s legal
identity that is separate from the legal body. On the other hand, unincorporated ,members are
from unincorporated organizations and they do not enjoy protections offered like those in
incorporations.
From the findings above managers learn various lessons. The first lesson they learn is
that there exist different organizations (Governance hub, n.d). The difference in these
organizations is based on the status in the society, the management and their role in the society.
Therefore, it is the duty of every manager to make decisions that are right depending on the type
of organization.
Conclusion
In conclusion, it is evident that there are five contextual factors related to business. They
include, environmental forces, risks confronting the company, governance and organizational
structures, business practices and organization and the role of diversity companies. Among all
Showing Page:
7/8
CONTEXTUAL FACTORS 7
the 5 factors, there are various recommendations that I would recommend to the factor of ‘risks
confronting the company.” The factor affects organizational performance of CQ University.
Risks represent everywhere and nobody can escape from risks. In addition to that, I would
recommend that organizations to always be ready for risks. When they are ready for risks it will
be easy for them to pull through from the situation. There are various ways that an organization
can be ready for risks. It can come up with a team aimed at helping the company recover from
the effects of the risk (Folami, 2011). I would also recommend that an organization to understand
the different types of risks that could affect it and know whether these risks can be prevented or
not. They should also set aside some money to help it rise in case of a crisis due to risks. I would
also recommend that the manager of the organization to listen to other people’s views on risks
and uncertainties and this will help him know how to deal with a situation when it arises.
Reference
Conklin, David. (2004). “Designing a New Course: The Global Environment For Business.”
Journal of international Business Education. Retrieved from:
www.neilsonjournals.com/JIBE/sConklin.pdf
Folami, Lookman( 2011). “ A multidisciplinary Approach to Risk Management in Accounting
Firms.” Journal of Applied Business Research: DOI: 10.19030/jabr.v18i4.2130
Governance hub (n.d). “Governance and Organizational Structures.” Journal of Management.
Accessed at: www.governancehub.org.uk
Showing Page:
8/8
CONTEXTUAL FACTORS 8
Norén, Göran (2004) “Head of Department, Trade and Sustainable Development Confederation
of Swedish Enterprise. “ Journal of International Business Studies. Retrieved from:
https://www.svensktnaringsliv.se/...business.../The%20role%20of%20business%20in%
Rowland, Kimberly & Simons, Starlene (2011). “Diversity and its Impact on Organizational
Performance: The Influence of Diversity Constructions on Expectations and Outcomes.”
Journal of Technology Management and Innovation. Retrieved from:
https://scielo.conicyt.cl/pdf/jotmi/v6n3/art13.pdf

Unformatted Attachment Preview

Running head: CONTEXTUAL FACTORS Contextual Factors Student’s Name Institutional Affiliation Contextual Factors Introduction Contextual factors are important in any organization. The reason is that they help people have a clear understanding of their organization. They also help the company to know how to deal with a situation depending on the organizational structure. Nonetheless, there are various examples of these contextual factors. They include; environmental forces, risks confronting the 1 CONTEXTUAL FACTORS 2 company, governance and organizational structures, business practices and organization and the role of diversity companies. All these factors are equally important and none is above the other (Conklin, 2004). The best part of it is that they help managers come up with useful decisions that will affect the firms positively and they also teach them good management skills. For instance, the issue of risks confronting a firm helps managers to have clear knowledge of how they will deal with potential risks in the organization. Environmental forces teach managers on the issues that surround the decisions they make. Annotated Bibliography Conklin, David. (2004). “Designing a New Course: The Global Environment For Business.” Journal of international Business Education. Retrieved from: www.neilsonjournals.com/JIBE/sConklin.pdf The main contextual factor that is being discussed in the journal is environmental forces. In accordance to Conklin (2004), it is evident that environmental forces have a role to play in the business world. The findings related to the contextual factor are that there are relationships between environmental forces and the performance of various businesses. It has also discovered that there are five sets of environmental forces in relations to business. The first is the industry structure. In this force there are various responses to customer’s strategies, suppliers and competitors and it also is dependent on profitability of the attributes that are value- added. The second environmental force is macroeconomic variables. In this environmental force, there are income levels and growth rates. It also focuses on how unemployment rates affect the business sector. Thirdly, political variables are the third environmental force. In this force, there is existence of restrictions and international trade, regulations and investment agreements. In addition to that, the other environmental force affecting the business arena is societal variables. CONTEXTUAL FACTORS Some examples of the variables in the society are labor and environmental practices, social responsibility and demographics (Conklin, 2004). Technological variables are the third environmental force. Some examples of this force include technological infrastructure and the internet. The findings in the article have various meanings for the managers. The first is that managers should ensure that they are advanced in technology in a bid to ensure that there is effectiveness in the company (Conklin, 2004). Moreover, managers should also be cautious of these environmental forces and know how they affect the company. They should also learn the when a force brings about a negative effect. Folami, Lookman( 2011). “ A multidisciplinary Approach to Risk Management in Accounting Firms.” Journal of Applied Business Research: DOI: 10.19030/jabr.v18i4.2130 The contextual factor being discussed about in this article is risks confronting a firm. In any company, risks are inevitable. However, there are various methods that could be used to manage these risks. Folami (2011) looks at ways of managing risks that confront an accounting company using approaches that are multidisciplinary. Some of the findings of the article were that there are various approaches that could be used to manage risks. The first is through the act of limiting consideration to help manage the risk of litigation. This approach mainly focuses on exposing litigation in accounting firms. The article also discovered that there are risks between risk reduction and aversion. When the degree of risk aversion increases, there is n increase in demand for the risk. Similarly, when there is a decrease in the degree of risk aversion, there is a decrease in the demand for risks. However, it is factual to say that the more the risk the more averse the company is and the more the risk is present in a firm, it will invest in ways of reducing risks (Folami, 2011). 3 CONTEXTUAL FACTORS The findings in the article have also helped managers in an organization. They help the managers know that when risks confront a company, it does not mean that they are failures. Moreover, it also helps the managers find new ways of solving risks in the organization (Folami, 2011). Rowland, Kimberly & Simons, Starlene (2011). “Diversity and its Impact on Organizational Performance: The Influence of Diversity Constructions on Expectations and Outcomes.” Journal of Technology Management and Innovation. Retrieved from: https://scielo.conicyt.cl/pdf/jotmi/v6n3/art13.pdf The contextual; factor that the article is looking at is the functions of diversity firms. From the article, there are new findings that have been developed from the new research that was carried out. Rowland & Kimberly (2011) explain that managing diversity in the workplace was essential. They argued that people who are different have origins have different cultures, beliefs and they also have different ideas. Therefore, when diversity firms are present, there is the incorporation of new ideas and the company grown uniquely. The article also looks at the fact that there are challenges of diversity firms as they carry out their function of acting as a unifying factor. The first is that there has been confusion between functional diversity and the types of non- functional diversity are present. The most common diversity in the workplace is functional diversity (Rowland & Kimberly, 2011). However, there are other diversity forms that have been used as a form of making the companies grow socially. From, the article, it is also true that there are various classifications of diversity. They include; classification from an information and decision making perspective, a social organization perspective, and through perspective integration. 4 CONTEXTUAL FACTORS The article teaches managers on various issues. The first lesson they learn is that they should understand diversity and they should uphold it. Additionally, they also understand that diversity has great advantage in the company and it should be managed at all costs (Rowland & Kimberly, 2011). They should also educate the employees on how to make their companies diversity firms and how to embrace each other in a bid to achieve the common goal of the company. Norén, Göran (2004) “Head of Department, Trade and Sustainable Development Confederation of Swedish Enterprise. “ Journal of International Business Studies. Retrieved from: https://www.svensktnaringsliv.se/...business.../The%20role%20of%20business%20in% The main contextual factor that the article looks at is organization and business practices. The article majorly looks at the role of businesses and organizations. The major findings from the article are that there are various ways in which businesses and organizations benefit the society. The first is that they create job opportunities for the community (Norén, 2004). People tend to work in these companies as suppliers, distributors and even coworkers. They also pay wages in a bid to buy goods. The company may also benefit from its activities. It invests in new technology hence making it easier to provide faster services and make products faster. Continually, firms also develop new goods, services and processes and they also build and spread international standards like avoiding environmental emissions. They also supply goods and services to their customers. Sometimes, these businesses and organizations spread good practice in diverse areas. From the findings from the article, it is also evident that managers learn. The first lesson that they learn is that both the companies and the society benefit from each other(Norén, 2004). 5 CONTEXTUAL FACTORS 6 This is viewed through the point that customers and labor is provided by the community and in return, the company provides the society with different goods and services. Governance hub (n.d). “Governance and Organizational Structures.” Journal of Management. Accessed at: www.governancehub.org.uk The primary contextual factor in the article is organizational structure or governance. In accordance to Governance hub (n.d), there are various types of organizations and they have different characteristics. They include; community enterprise, member’s club, co-operatives and social enterprise. These organizations are different depending on their general characteristics, management and their status in the society. In most cases, the society does not recognize a member’s club. It is also evident that there is a difference between incorporation and unincorporation members. Incorporation has a basic meaning of creating an organization’s legal identity that is separate from the legal body. On the other hand, unincorporated ,members are from unincorporated organizations and they do not enjoy protections offered like those in incorporations. From the findings above managers learn various lessons. The first lesson they learn is that there exist different organizations (Governance hub, n.d). The difference in these organizations is based on the status in the society, the management and their role in the society. Therefore, it is the duty of every manager to make decisions that are right depending on the type of organization. Conclusion In conclusion, it is evident that there are five contextual factors related to business. They include, environmental forces, risks confronting the company, governance and organizational structures, business practices and organization and the role of diversity companies. Among all CONTEXTUAL FACTORS the 5 factors, there are various recommendations that I would recommend to the factor of ‘risks confronting the company.” The factor affects organizational performance of CQ University. Risks represent everywhere and nobody can escape from risks. In addition to that, I would recommend that organizations to always be ready for risks. When they are ready for risks it will be easy for them to pull through from the situation. There are various ways that an organization can be ready for risks. It can come up with a team aimed at helping the company recover from the effects of the risk (Folami, 2011). I would also recommend that an organization to understand the different types of risks that could affect it and know whether these risks can be prevented or not. They should also set aside some money to help it rise in case of a crisis due to risks. I would also recommend that the manager of the organization to listen to other people’s views on risks and uncertainties and this will help him know how to deal with a situation when it arises. Reference Conklin, David. (2004). “Designing a New Course: The Global Environment For Business.” Journal of international Business Education. Retrieved from: www.neilsonjournals.com/JIBE/sConklin.pdf Folami, Lookman( 2011). “ A multidisciplinary Approach to Risk Management in Accounting Firms.” Journal of Applied Business Research: DOI: 10.19030/jabr.v18i4.2130 Governance hub (n.d). “Governance and Organizational Structures.” Journal of Management. Accessed at: www.governancehub.org.uk 7 CONTEXTUAL FACTORS Norén, Göran (2004) “Head of Department, Trade and Sustainable Development Confederation of Swedish Enterprise. “ Journal of International Business Studies. Retrieved from: https://www.svensktnaringsliv.se/...business.../The%20role%20of%20business%20in% Rowland, Kimberly & Simons, Starlene (2011). “Diversity and its Impact on Organizational Performance: The Influence of Diversity Constructions on Expectations and Outcomes.” Journal of Technology Management and Innovation. Retrieved from: https://scielo.conicyt.cl/pdf/jotmi/v6n3/art13.pdf 8 Name: Description: ...
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4