Reference no: EM132860805
This question is general, nothing is missing, and no extra data is needed. Please read my statement below and explain what would you do.
In an effort to provide people what they have searched for online, Google has rapidly risen to become one of the top and most innovative technology companies in the world. The company's dominance in search and page rank has provided it with a critical competitive edge in the market, as Tran (2017) indicates that Google processes approximately 50% of all search queries in the world. This success and dominance can be attributed to the innovative advancements as demonstrated by the company. For example, Masterton and Olsson (2018) explained the PageRank system created by Google enabled the company to track the importance of a website in terms of its relevance and quality on the web. This approach has helped the company provide relevant information to consumers as they search for related content on the internet. Despite these accomplishments, other external environmental forces have contributed to the success of the company.
As the term suggests, external forces affecting an organization are exogenous in nature and can affect the performance of an organization (Williams, 2021). In this case, five common external forces affect businesses: political, social, economic, environmental, and legal. Concerning Google's matter, the most relevant external factors contributing to its success are social, technological, and economic factors.
According to Williams (2021), social-environmental factors relate to the attitudes, values, beliefs, desires, and wants of the public. In this case, these variables' dynamic nature may affect the performance and even sustainability of organizations. However, Google has used these changes to its advantage by spurring innovative approaches to attract and maintain its customers. In this regard, society's fast-paced nature has demanded accurate information that is easily accessible. Google has excelled in this front by developing innovative technology that ranks websites and pages on the internet to provide the most relevant and essential information with their customers' search queries. This concept allowed the company to stand out amidst its competitors in this space, such as Yahoo and Bing.
Secondly, the technological environment has enabled the company to succeed in the marketplace. According to Williams (2021), this aspect relates to the business technology adopted by the organization to help reach its intended customers, provide its services, and produce its products. In this case, Tran (2017), Google has embraced the concept of innovation and keeps reiterating its products to improve their intended outcomes. For example, aside from being a search engine company, Google Inc. has expanded its offerings to help fulfill individuals' needs while also satisfying its advertising customer base. This aspect is evident in the purchase of companies such as YouTube, which has helped the company expand its user base.
Lastly, the advancement of the economic environment has also contributed to Google Inc.'s success. This aspect can be demonstrated by the fact that improving overall welfare fortunes for individuals worldwide has enabled the company to invest in expanding its technology and accessibility to all individuals. This situation has allowed the company to invest in its business operations due to increasing demand from its target audience.
How should Google Inc., respond to the threats to their social-environment, technological environment and the advancement of the economic environment and opportunities? Be specific!