There are number of factors that play a significant role in the organization in the context of the decision-making. The role of the contextual factors in the process of decision making is huge as it affects the productivity of the business as well as employee. The discussion on contextual factors will be made under this assignment in which each article will show the discussed contextual factor. There are a number of factors that impact the decision-making process of the company as it has been seen that people make decisions about many things. The decision of the company is made on a number of factors as they as they help in growth of the organisation
It is an annotated bibliography that will cover some certain some topic such as organization structure or governance, external forces, risk confronting the firm, organization and business practices and the functions of the diverse firm. The contextual factors help in the development of the business as it covers internal and external aspects.
Dinh, T. Q., & Calabrò, A. (2015). Asian Family Firms through Corporate Governance and Institutions: A Systematic Review of the Literature and Agenda for Future Research. International Journal of Management Reviews
The corporate governance is the major contextual factor of this article that depicts the importance of this contextual factor. The author found that the model of the corporate governance has attained the attention of the customers but it is not clear that in what way their corporate governance mechanisms differ from those of family organizations in the western world. the major objective of this paper is to provide a better understanding of institutional complementary that comprise informal governance mechanisms which are espoused by Asian family firms
The findings of the article are suggested that it is required for the family firms to develop the political connections to react to the collapse of legal systems. The new findings in this journal article are that the Asian organizations rely on personal networks such as guanxi for the purpose of decreasing the uncertainty, increasing the strengthen business ties and gaining access to external resources. The role of this finding elaborates on the great role of the manager of the organization as they can develop a better understanding of their better relation with others organization. It is essential for the organization’s management to know more about the corporate governance mechanisms in Asian family organizations.
(b) Environmental forces
Ture, R. S., & Ganesh, M. P. (2014). Understanding pro-environmental behaviors at the workplace: proposal of a model. Asia-Pacific Journal of Management Research and Innovation, 10(2), 137-145.
The contextual factor of this journal article is the environmental factors that considered as the major aspect of any kind of business because the impact of environmental factors can affect the productivity and the benefits of the company. It is the journal article that expresses the pro-environmental behaviours which are referred to the household setting. The importance of pro-environmental behaviours is increased day by day that is why the author of this article has presented a framework to describe pro-environmental behaviours at the workplace.
The new findings of this article are the management discipline and the behaviours of the pre-environmental which is related to the literature from the subject of the social psychology. The research has covered the Value-Belief-Norm (VBN) theory and a conceptual framework for elaborating the pro-environmental behaviours. The manager would be facilitated with these new findings as it would help him to understand the values and environmental belief. It was apparent that the organizational environmentalism will impact the pro-environmental behaviours of the employee by social norms.
(c) Risks confronting the firm
Van Der Vegt, G. S., Essens, P., Wahlström, M., & George, G. (2015). Managing risk and resilience. Academy of Management JournalVol. 58, No. 4. doi/10.5465/amj.2015.4004.
The risk is the major aspect of any kind of business and it is required for the organization to have the mitigation strategies so that the company can reduce the impact of the business. The author has described the concept of the managing risk and resilience which has its intellectual roots in the area of the individual psychology. There are a number of factors described in this article for the purpose of mitigating the risks within the operation.
The vital component of the organization as the compound system is the employees of the company. A significant cause of ability for organizational flexibility is restricted in the features of employees. The flexibility of organizations not only relies on the accessibility and convenience of resources but also on the official managerial structure. it has been found that the discussion over Contingency theory has been made. The authors have given some technique in order to effectively deal with the adverse condition.
The new findings of the article are that the organization is directly involved in the success of the community as it might be required to evaluate the relevant features and abilities of individuals and the systems. It needs the evaluating the function of the individuals and systems over a longer period of time at the time of one or more obstacles take place. The new findings would be helpful for the manager to understand the entire concept of the business so that the manager can take appropriate action within the operation for the purpose of increasing the revenues of the company.
(d) Organisation and business practices
Barraket, J., Furneaux, C., Barth, S., & Mason, C. (2016). Understanding Legitimacy Formation in Multi?Goal Firms: An Examination of Business Planning Practices among Social Enterprises. Journal of Small Business Management, 54, 77-89./doi/10.1111/jsbm.12290.
The role of the business practices in the firm has a significant role as it increases the productivity of the employee as well as business. The business practices as a contextual factor have been elaborated under this journal article. This article has explained the value of the business planning to new business ventures as well as small organizations has been the matter of debate among researchers of the entrepreneurship. In this journal article, the author investigates business planning practices in the form of functions of authority formation among social enterprises of Australia. it has been discussed in this article that the business planning practices are come in the form due to the demand to create legitimacy with organizational performance imperatives and external stakeholders.
The new findings through the journal article are that the article suggests the planning processes of the company that serves unique forthcoming and relational functions among enterprises. The implication of this article is to make understanding legitimacy formation inside multi-stakeholders. The manager of the organization would be facilitated with these new findings because they get to know about the power of the legitimacy. It has been found that the business plans are dependent on the purpose for in which they are being used. The manager will get to know about the business practices of the organization so that the employee of the company can perform in a well efficient manner so that the revenues of the company can be amplified significantly.
(e) The functions of diverse firms
Findikoglu, M. N., & Watson?Manheim, M. B. (2015). Do small and medium?sized IT firms form service partnerships with nonlocal IT firms? An assessment of facilitators. Journal of Small Business Management, 53(4), 986-1010.
The contextual factor of this journal article is to functions of the diverse firms and this article has emphasized the small as well as medium firms of IT. The author has found that the service partnerships created with other firms of IT are a strategic mechanism to conquer their resource constraints, amplify efficiency, and provide complementary services to their customers. The discussion on those firms has made a tendency to create local partnerships because of the trust building and it has been found that few of them are linked in non-local partnerships. The main aim of this research is to discover the facilitators of this different organization behavior.
The implication of this journal article is that an organization should consider the functions of the diverse firms because the structure of the organization is entirely different from each other. Considerably, the organization manager needs to focus on the different functions of the diverse firms so that they can contribute to the revenues of the company. It has been found that the findings of this firm suggest that the alliance capabilities of the organization and organizational immediacy between isolated partners can alternate the lack of geographical propinquity and allow IT SMEs’ meeting in nonlocal service partnerships. This journal article has explored that the role of the medium and small business is different from each other and it is required for the business to have the better understanding about them.
Conclusion
It can be concluded from the above discussion that the management of any kind of business has a significant role in developing the image of the company. This annotated bibliography has covered some specific topics such as Organisational structures or governance, Environmental forces, Risks confronting the firm, Organisation and business practices, and the functions of diverse firms. The articles have taken from specific journal articles; it has been found from the first article that the corporate governance is required for the development of the business.
The second article has been suggested that the environmental forces can impact the entire business that is why it is necessary for the manager to take appropriate action so that the company can protect them from any kind of adverse situation. The third article has elaborated that the risks are the necessary part of the business as it can be reduced with effective planning. The fourth article has been taken on the topic of organizational and business practices that shows the necessity of the business practices in the operation of the company. At last, the final article of this assignment has made on the functions of the diverse firms that depicts the difference between firms’ function.
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