Question

What are internal factors that drive change (5)

a) Leadership, technology, market demand, competition, external regulations
b) Economic conditions, customer feedback, employee satisfaction, political climate, societal values
c) Organizational culture, strategic planning, financial performance, supplier relationships, advertising
d) Product quality, research and development, employee turnover, pricing strategies, customer demographics

Answer 1

Leadership, technology, market demand, competition, and external regulations are internal factors that drive change.

Step-by-step explanation:

The internal factors that drive change are:

• Leadership: Effective leadership can drive change within an organization by setting a vision, motivating and inspiring employees, and making strategic decisions.
• Technology: Technological advancements can disrupt existing business models and processes, leading to the need for change and innovation.
• Market demand: Changes in customer preferences and demand can require businesses to adapt their products, services, or marketing strategies.
• Competition: Competitive pressures can drive businesses to change in order to stay relevant and maintain a competitive advantage.
• External regulations: Changes in government regulations or industry standards can necessitate changes within an organization to remain compliant and avoid penalties.