The corporate and business environment is characterized by a number of factors: competition, dynamism, turbulence, complexity and change. All organizations must develop the ability to constantly and consciously transform themselves and their contexts. Such contexts include restructuring for optimum effectiveness, reengineering key processes, and streamlining functions that can provide a way to obtain a competitive advantage. The aim is to adapt, regenerate, and most important, survive.
For an organization to prosper today, strategists must find ways to boost the organization’s ability to read and react to industry and market changes. They must know their goal to improve the company’s strategic flexibility by recognizing disruptions previously and responding faster. When there is certainly doubt or unpredictability in the environment, managers have a tendency to focus almost all their energy on successfully executing the current strategy.
What they also should be doing is preparing for an unknown future. Flexibility is due to the capability to learn; managers have a tendency to overlook the negative and emphasize the positive. They need to understand not only what resulted in the positive final results but also what resulted in the negative ones. This will boost their learning experience. According to Ford (2004) four factors to foster and keep maintaining adaptability include challenging complacency, providing all employees a voice, motivating participation work, and generating dread out of your group. The companies chosen for this job vary by industry: a famous automobile producer (Ford) a bank going through a merger (Compass) and a start-up software company (DawningStreams).
Ford and Compass have been in business for a long time; chances are they have transformed their proper plan predicated on changing forces and trends. DawningStreams is new (established in 2005 and incorporated in 2007). Even though they never have got their first sale and have no staff, the owners have devised several iterations of their strategy. There is a diversity of stakeholders everything is interested in the experience of business organizations. Emphasis must be positioned on the adaptability in strategic analysis and their adaptability in the strategic management of business organizations. The business must have a tactical management model.
Each company might check the same areas, but also for different reasons. Considering technical developments, Ford would prepare itself to lead the market with various digital equipment in their vehicles, as well as robotic equipment with which to build them and the source-chain technology to keep all in check. Compass Bank is going through a merge and expands globally; therefore they’ll need to keep up to date with communication technology. DawningStreams is a software company; they will need to monitor those ongoing companies who would be their competition to ensure their product offers better functionality.
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To the exterior observer, it could seem unnecessary for just about any but Ford to scan the (real) environment as it pertains to issues such as emission control, gas efficiency, and cross cars. That is true however; Compass Bank and DawningStreams can plan a technique to be friendlier to the environment (and their pocketbooks) by exercising paper reduction (through the aforementioned technology). Lastly, DawningStreams product might be useful as a file sharing service to environmental organizations.
With respect to the legal environment, all three must be acutely alert to laws, which impact their particular industry amongst others. To Ford, legal applies, among other areas, to environmental protection laws and regulations and section of transport basic safety laws and regulations. DawningStreams must follow laws as they pertain to the transfer of files, that have intellectual property and the export of products, which have algorithms. All three companies are global and can need to monitor those laws in other countries, which could affect the strategic planning. At one company after another–from Sears to IBM to Hewlett-Packard to Searle, the strategy is again a major concentrate in the search for higher profits and profits.
With help from a new era of business strategists, companies are going after novel ways to hatch services, increase existing businesses, and create the markets of tomorrow. Some companies are even recreating full-fledged strategic-planning groups. United Parcel Service expects to spin out a fresh strategy group from its marketing department, where tactical programs are hatched now.
Ford Motor Company embraces the socio-cultural changes taking place to allow the company to move in the right path with respect to attitudes in the society. Two areas that stick out in terms of socio-cultural attitudes would be that of fuel overall economy and smaller vehicles. The growing concern by the public for better fuel economy has influenced the company’s launch of the Ford Escape Hybrid and Mercury Mariner Hybrid. The business is committed to the hybrid to improve overall fuel economy as a global strategy to meet customer needs.