Final answer:
The factors that must be considered to understand change are the past, present, and future in which a firm functions, the substance of the change itself, and the transition process, tasks, and activities involved in implementing the change.
Step-by-step explanation:
The factors that must be considered to understand change are:
- The past, present, and future in which a firm functions. This involves analyzing the company's history, its current situation, and predicting future trends and challenges.
- The substance of a change itself. This involves understanding the nature and impact of the change, such as technological advancements, shifts in consumer preferences, or regulatory changes.
- The transition process, tasks, and activities involved in implementing the change. This includes planning, organizing, and managing the change, as well as identifying the tasks and activities required for successful implementation.