April 14, 2021

Forces and Trends in Business

The business environment is characterized by a number of variables: competition, dynamics, turbulence, complexity and change. All organizations must develop the ability to continuously and consciously transform themselves as well as their context. These contexts include restructuring to achieve optimal efficiency, restructuring key processes, and optimizing features that can provide a source of competitive advantage. The goal is to adapt, to be reborn and, above all, to survive. (McLean, 2006).

For business to thrive today, strategists must find ways to improve the organization’s ability to read and respond to industry and market changes. They need to know their goal is to increase strategic business flexibility by faster crash recognition and faster response.
Flexibility or strategic adaptability can be defined as the ability of an organization to detect major changes in the external environment, to quickly allocate resources for new actions in response to such changes, and to recognize and act quickly when necessary. Suspend or restore existing resources. Obligations. Flexibility means that leaders should not look too hard at the world. The organization must see change as an inevitable and essential part of the organization’s growth in order to achieve this capacity for adaptation.

When there is uncertainty or unpredictability in the environment, managers tend to spend almost all of their energy on the successful implementation of the current strategy. What they should also do is prepare for the unknown future. Flexibility stems from the ability to learn; managers usually do not pay attention to the negative and focus on the positive. They need to understand not only what has led to the positive results, but also what has led to the negative. This optimizes their learning experience. According to Ford (2004), the four points for advancing and maintaining adaptability include challenging complacency, giving all employees the right to vote, encouraging collaboration, and eliminating fear in your group.

The companies selected for this task vary by industry: a well-known automaker (Ford), a combined bank (Compass) and a software development startup (DawningStreams). Ford and Compass have been around for a long time; they have probably changed their strategic plan on the basis of changing strengths and trends. DawningStreams is a new company (founded in 2005 and founded in 2007). Although they did not have the first sale and did not have employees, the owners offered several options for their strategy.

There are many participants who are all interested in the activities of professional organizations. Particular attention should be paid to their adaptability in strategic analysis and their adaptability in the strategic management of business organizations. The organization should have a strategic management model.

Each company can scan the same areas, but for different reasons. Given advances in technology, Ford is preparing to dominate the market with a variety of electronic equipment in its cars, as well as robotic equipment to build it and supply chain technology to keep everything under control. Compass Bank merges and expands around the world; so they’ll have to be aware of communication technologies. DawningStreams is a software company; they will have to monitor the companies that will be their competitors, so that their product offers better functionality. All three companies will make sure that potential customers can get useful information from websites and advertisements, which is another area of technology that organizations may need/want to analyze. In this case, it is necessary to attract many members of the organization: senior management and finance, which determine budgetary factors; The IT department that will be responsible for implementing and supporting part of the technology; Staff who will be trained to use the technology sales department that will sell the technology.

It may seem superfluous to an outside observer to analyse the (real) environment when it comes to such things as emissions control, fuel efficiency and hybrid cars. However, this is true; Compass Bank and DawningStreams can plan a more environmentally friendly strategy (and their wallets) by reducing the number of paper documents (using the aforementioned technology).

As for the legal environment, all three should be fully aware of the laws that, in particular, affect their industry. For Ford, the law applies, among other things, to the laws on environmental protection and transportation safety. As for Compass Bank, they will abide by the rules of the Federal Reserve (www.federationreserve.gov) and the Federal Insurance and Deposit Corporation (www.fdic.gov). DawningStreams must comply with laws regarding the transfer of intellectual property files and the export of products with algorithms. All three companies are global and will have to comply with these laws in other countries, which may affect strategic planning.

Business to Business – From Sears and IBM to Hewlett-Packard and Searle, strategy is once again becoming a key focus in the drive to increase revenue and profits. With the help of a new generation of business strategists, companies are looking for new ways to create new products, expand existing businesses and create tomorrow’s markets. Some companies even create full-fledged strategic planning teams. United Parcel Service plans to create a new strategic group in its marketing division, where strategic plans are being developed. President Kent S. Nelson explains, “Because we are more determined to invest in technology, we cannot afford to spend a lot of money in one direction and in five years to discover that this was the wrong direction. ” ‘

In such a world, we need a planning model that allows us to anticipate the future and use that expectation, combined with an analysis of our organization – its culture, mission, strengths and weaknesses – to define strategic issues and the direction of our orientation. Map. develop vision and strategic plans to determine how we implement these plans and how we will assess the extent to which these plans will be implemented. The fact that the world is changing as we move into the future requires that this process be repetitive.

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