Is there any Point in having a Business Strategy when the World changes from Month to Month?
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Chengappa M said:
(Sat, May 25, 2013 03:30:37 PM)
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Hello everyone!
I believe that a business strategy is the backbone of any business. Business strategy is the driving force of any company; it gives a goal for any company.
A flexible business strategy is should be made by the company with the view of the current market changes.
A business should always look for growth and profit, if there is change in the market which has a potential profit for the company the strategy can be modified accordingly.
With that I want to say that the adaptability of the company to the changing market should be the main ingredient for success of any company in the market! |
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Rate this: +6   -0
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Pallavini said:
(Wed, May 1, 2013 04:49:53 PM)
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I think, any business would not succeed in this turbulent market without a robust business plan.
A business plan is important:
1) It is true that market conditions, economic scenario change rapidly, but the motive of a business plan is to read those trends and prepare itself according to the best of its efforts.
2) prepare for any unanticipated contingencies.
3) To decide its target market by way of STP (Segmenting, Targeting and Positioning) strategies.
4) to allocate a company's resources in order to derive the maximum benefit from them.
5) to come up with ways of maximizing profits under changing circumstances.
Thus it would not be wrong to say that a business strategy is a company's modi operandi shaping its fundamentals and defining its key targets, along with enabling it to survive even in the most hostile business environment.
A business strategy is like a blind person's stick which acts as a guide to him. |
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Rate this: +5 -0
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Govind said:
(Mon, Apr 29, 2013 09:33:44 AM)
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Hi friends,
According to my views, a business can only run if it adopt changes otherwise survival of business is not possible in present era of competition. Business strategy is not static its dynamic in nature it goes change according to demand of customers. In present era business is consumer oriented means what customer demands provide same things. So change in business strategy must be needed for survival of business in competition world. |
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Rate this: +2 -0
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Poonam said:
(Tue, Apr 23, 2013 10:05:19 AM)
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| Hi Friends, World strategy is changing day by day. To compete this world we must be part of this strategy. Business is the key factor that relates an organization to its success. Since world is changing day by day so we can't rely on existing strategy. But if we make a plan properly and execute strategy according to this plan may be we should not need to change the strategy day by day. |
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Rate this: +2 -0
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Sharat Kumar Malick said:
(Fri, Apr 12, 2013 09:44:28 AM)
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If profit maximization is the goal of business so is customer satisfaction. To meet the twin goal and get a win win situation for customer and business strategy are required to be well defined. Although the worlk is changing every moment so that the strategy to deal with the situation should be situational. It should see the long term as well well short term and very short term objectives.
This a a complex matrix and getting the best possible solution is the profit maximum. |
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Rate this: +3 -0
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Priya Choudhary said:
(Sun, Apr 7, 2013 10:35:49 PM)
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| Business is something that you can't run without any strategy. A perfect strategy and solid execution can only keep anyone on the competitive map. This does not mean that strategy once made should not have any changes introduced to it. It should be flexible enough to meet the changes that come from month to month in the world. Any business is considered to be successful only when it meets all its consumer demands, so the plan should allow adoption of latest and most efficient technology. |
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Rate this: +5 -0
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Aditya S said:
(Thu, Mar 28, 2013 02:25:46 PM)
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Hello Friends,
As per my opinion we always need to make strategy let the world to be fickle. We should think all the possibilities that may result next year and according to each possibility we need to make plans which ranges from favorable to unfavorable conditions. |
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Rate this: +1 -1
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Yash said:
(Tue, Mar 26, 2013 01:54:54 AM)
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According to me strategies should be made in a way that they should be so flexible that can be fitted each and every kind of situation.
If we have to survive in the changing market than we need tom implement those policies or strategies according to the situation. |
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Rate this: +2 -1
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Parveen said:
(Sun, Mar 17, 2013 01:04:47 PM)
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| In global era we need long term and short term both business strategy together because today nothing be static here whether these are govt policies, political system, customer need, economic and social environment. Even we can take the simple example of our personal life in which we make and change decision on every step. So in business where cut throat competition everywhere, in that situation if we want to sustain our self then we have to follow the strategy from ground to top level with day to day focus. |
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Rate this: +6 -2
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Gyanchand said:
(Mon, Mar 11, 2013 06:59:00 PM)
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| Hello everyone as my point of view for best business and success in business should need ultimate focus on consumer demand and also seek competitor strategy. And think creative maintain relation with customer work on the basis of customer preference. |
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Rate this: +2 -2
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Sangram said:
(Sat, Jan 12, 2013 11:19:12 PM)
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| Business strategies are basically meant to be followed in the initial stage of starting a firm or an organization. Once the firm has been set up, one has to act spontaneously to the various kinds of situations like an artist acts spontaneously in a skit. With the huge range of changes going one has to be very thoughtful in acting adeptly to the given situation. No big entrepreneur is made by totally following the ethics completely. |
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Rate this: +4 -7
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Aditi said:
(Thu, Dec 6, 2012 02:46:15 PM)
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The first step before starting or running any business is strategy. Planning is the utmost important task and should never be missed out. The plans should have a vision and the strategy/approach to achieve it.
Strategies need to dynamic, as per the needs of market and business. Also, the strategies once laid down can be used in different business scenarios as well. What we need to do is define their scope.
One can also expand over the current strategies. One strategy can stand as the base for another one.
Few strategies always stay for eg. Cost control, produce good quality items. There are varied type of strategies as well. For eg. Ones to adapt in times of crisis, handle risks. |
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Rate this: +8 -1
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Atul said:
(Tue, Dec 4, 2012 05:07:42 PM)
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| Hi Everyone, In today's environment change is the only constant thing and in any business, strategy is the most essential element to achieving the end objective or goal. Planning is the foremost step in any management cycle and it is in this step that the activities and tasks for the next steps are laid out. That said, Scope management is something that one has to account for when formulating a strategy, for the scope might change. A plan has to be flexible to accommodate any change in the course of the cycle and there should ideally be reserved kept aside for that. Those are the qualities of a good plan, else if there was no change and everything was so static, so once the plan was made, any one can carry out the activities and run the company. So planning and strategics remain the essential and core element of any business. |
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Rate this: +18 -1
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Sameer Behari said:
(Sun, Nov 25, 2012 08:30:36 PM)
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According to me we can't ignore the power and benefit of strategy, Is anything is achievable in absence of goal and planning? If it is achieved it can't be sustain for long run because it was a result of luck not effort. It is not a new thing that changes are happening change is real and life and everything is changing with time. We have to devise our strategy in two way approach; first one is to form a long term strategy which keeps business goal and objective in mind based on customer needs which never changes and next approach is to form a short term strategy that has to be very dynamic and flexible to align with day to day changing scenario.
In my view without strategy, doing any business is like a blind folded game where the energy and efforts are wasted to test the luck. |
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Rate this: +13 -2
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Sahil Patel said:
(Thu, Nov 1, 2012 12:25:47 AM)
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| Be it a company or an individual, Strategy is a way to achieve the goal. In ever-changing conditions or dynamic market, strategy of using Scenario Planning helps us improve our competitive position based on each and every move of the competitor. |
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Rate this: +4 -3
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Zeeshan said:
(Fri, Oct 19, 2012 10:10:23 PM)
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In my point of view, process of developing strategy is continued from the very first day when you think to do business. Now it's success is solely dependent on the prudent market strategy which you adopted and then onward sustain in the market you must have capture the interest of community of your target market.
And it's only possible when probe the desire of people and share of your peer competitors in the market, control the operational cost of your product, development in the product marketing and so on by every moment, is the chain for growth of any business in a long run.
That's called business strategy which is required changing in itself at every step for successful business. |
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Rate this: +20 -0
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Abhinav Sahu said:
(Thu, Sep 13, 2012 06:21:07 PM)
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| Yes I agree to the point that world is changing everyday but it doesn't mean that we should not make strategies because these day to day or month to month strategies may change our short term plans but we need a direction and some guidelines which will dictate our short term plannings and thats where long term planning comes into the picture because these long term planning will be the backbone for our short term strategies and will guide them in a particular direction, And without long term planning any organization can't be successful. So we need to make strategies but at the same time we need to change them in short term according to market. |
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Rate this: +28 -4
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Neha said:
(Fri, Aug 10, 2012 12:37:56 AM)
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| According to my point of view nothing is static in this world and the same rules are applied to the business. A strategy is needed in each and every phase of life so as in business. In this world of cutting edge competition also there can be strategies which are long lasting for eg that used by apple and facebook. Apple realized the power of applications and used as its one of its strategies and Facebook realized the power of the customer's eyeballs which are there on Facebook for 24*7 and both are gaining a lot from their respective strategies. So strategies must be applied to the business but keeping in mind the demand and needs of the society. |
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Rate this: +52 -2
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Ashish Kumar said:
(Tue, Jun 26, 2012 12:09:49 PM)
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Hi friends, according to me there are too many strategy to grow up the business. As like we know very well that business is always depand on consumers if consumer is happy than than your business is always grown up. Than first think about how to consumer happy. Most of the businessman always think about profit than result is initially perhaps he earned profit but if he did not attention on consumer facility than his business after sometime going on loss. But if first he thought about consumer facility than thought about profit than perhaps his business initially going on not too much profit but after sometime consumers are fully satisfied than I am sure his business is always going on profit. That is universal strategy to grown up the business.
Now we want to attention the consumer than we must upgrades the market new products and his prices as suppose if your company makes a product and that product cost is least in the market and it is greatest efficient but after sometime a another company comes with lower product price and greater efficiency than you must upgrade that information and decrease your profit and increase the efficiency to maintain your market.
That is the main business planning when world are changes from month to month. |
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Rate this: +4 -9
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Rishi Sharma said:
(Mon, Jun 18, 2012 12:42:39 AM)
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| The topic is very awesome. ! From my point of view every business needs strategies to defence the regular uncertainities. In this word every business or firm are tottaly depends on their customers. If any change recorded by an firm so definately they have need to plan to walk out from that particular situation. But the very important thing in business is to vigil market taste. What dere customer actaually demanding. This is the main rule ''if fail to plan it means you plan to fail''. |
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Rate this: +5 -6
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Reema Gupta said:
(Thu, Jun 14, 2012 03:27:10 PM)
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Hello everybody.
As per the topic of discussion, business strategies are a part of its formulation. So any business, irrespective of its type, has to formulate a strategy for its current and further developments. On the other hand, globalization is a part of this corporate world. It is required to enhance the present scenario of the so-called "business environment". So it can be said that, globalization or the so-called "random changes" in the corporate world is an unavoidable and a detrimental part of it. Ultimately it is the role of a business to adjust itself and its strategies accordingly. Although it is a very tough job, but that is where the challenge lies. In order to occupy a sustainable position in the long run, any business will have to accept the changing challenges, because the world will keep on changing and competition will be progressing every passing day. |
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Rate this: +22 -3
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Mukesh Gupta S32732 said:
(Fri, Jun 1, 2012 12:56:14 AM)
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| Dear all. I would like to add more points on this topic. First element of the business is to frame the strategy and strategy is of two types shot term and long term. Month to month changes in the world will not alter the buying behaviour and taste and fashion but slightly may decrease in consumption of product. That time management make the new strategy for attracting the customer for making good sale and profit. One important thing should be in planning how fast adopting the situation and converting in to action according to situation. Strategy is/should not fixed like pillar it is camouflage who changes the colour according to environment. Thank you. |
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Rate this: +16 -1
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Sandeep said:
(Tue, May 29, 2012 02:54:10 PM)
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| Constantly changes has to be done in all type of industries manufacturers, service sectors then only they can sustain in the market. In service industries it has to be like daily strategy they has to use to retain or for the new customer. |
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Sudarshan said:
(Mon, May 28, 2012 02:23:52 PM)
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| Developing a strategy itself means, planning for now and future by anticipating future trends. A good R&D team is must for organizations to forecast future and come with the strategies which will help them to perform better in changing world. Further we have no choice but to make strategies now. |
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Aufiyan said:
(Mon, May 14, 2012 10:56:30 PM)
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| Strategy be made in order to the culture and market economy of a country, in fact strategy is a key role in any kind of business, strategy once set is set, that in fact increases customer's confidence, then there is really no need of the strategies to get altered based on the trends. Trend is temporary, strategy is permanent. Once set is set. Only thing to be kept up is customer's beliefs. |
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Rate this: +4 -3
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Bhushan said:
(Mon, May 14, 2012 12:05:20 PM)
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Yes we do need strategy there is a need for strategy not one but we should have many back up strategies as one may work and other may not we have to keep a pace with the world we should understand where and how we are going wrong if our strategy fails we should learn from our mistakes and should imply a new strategy every time so that we don't repeat the same mistakes again and again.
So yes as time changes every moment every second in the same way even our strategy has to be change according and from time to time. |
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Rate this: +2 -0
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Smarat Reddy said:
(Tue, Apr 10, 2012 11:20:38 PM)
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Hi all.
For any successful business or to make huge profits strategy plays a key role. In present day scenario one can see lot of globalization which is taking place from time to time, and to sustain or cope with globalization changes strategy and pre-defined plan is necessary, for instance that is why many huge companies are following LEAN AND SIX SIGMA SOLUTIONS WHICH ARE SPECIALLY developed for smoothly running successful business by 'JAPAN '. According to me strategy is nothing but a systematically running business AND WITH stand TO CHANGES WHICH TAKE PLACE IN DAY TO LIFE and make profits. Without strategy running any sort of business is just like a blind folded game or sitting yourself on knife. Thank you! |
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Heena said:
(Sun, Apr 8, 2012 05:21:52 PM)
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| Strategy is a plan of action that is required to attain the desired goals and objectives. As in this era of globalization, world changes month to month we need to make several short term strategies to fulfill the long term strategy that will ultimately help us in attaining the desired goals. And these short term strategy can be mould depending on the changing situations. |
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Rate this: +54 -1
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Priya said:
(Thu, Apr 5, 2012 02:30:43 PM)
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| In my view a business should change its strategy according to the changing world. After all the main motive of the company is earn profit. As their are changes in society so according a firm has to change its goals, objectives, its advertisement strategy. For eg. Take a computer firm which designs a software according to change in society its also changes it stragegy for develpoing the software. |
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Rate this: +2 -2
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Shamim Arora said:
(Mon, Mar 26, 2012 02:17:57 PM)
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Strategy is a kind of business plan which is not static, but its dynamic as it is varying with time as per customer demands.
Strategy is needed to start work in particular direction. Otherwise no one who is doing business is unidirectional, but with the demand it needs to be upgraded or modified. As the main function of any business is to get profit. So mainly it should varies as per customer or market expectations.
So Strategy is needed in business but it should not be rigid. |
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Rate this: +13 -0
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Anudha said:
(Sun, Mar 4, 2012 09:04:41 PM)
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| Business strategy changes from time to time. In a competitive world like India, in order to survive every business has to make ammedments with its policies and functionality. Profits are the main motive of any business. World is changing which means changes are seen at every stage and in order to move with the changing customers demand, a business is requires to make ammendments with its strategy. |
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Rate this: +4 -1
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Sameer said:
(Mon, Jan 23, 2012 07:08:06 PM)
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| I am agree that a business strategy should be change month to month but one thing should be common that "needs". Needs will constant. As example for petrol price. Petrol price are increasing day to day but needs are same. So strategy should be in a such way that we can fulfill customer's demand as well as needs. A successful strategy has some aspect like a fix goal, feasibility, low labour and high output. So strategy in a such way that fulfill present demand as well as future needs also. |
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Rate this: +47 -8
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Karuna said:
(Fri, Jan 20, 2012 01:02:58 AM)
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Yes in my opinion strategy making is very important for any buisness.
Earning profit should be the main motive and also to satisfy customers needs to have fruitful results. |
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Rate this: +2 -8
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Subhashini Perumal said:
(Thu, Jan 19, 2012 09:26:29 PM)
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| In my point of view, Strategy in business is must for developing the business to next stage. Strategy is nothing but a course of action that every business should attain there long term goal. Strategy of a business should be in such a way it should be flexible enough to adapt itself for current business scenario which is very important to develop the business foer current trend. So, finally I can say that strategy is very important to acheive the heights in competeting business world. |
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Rate this: +4 -0
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Rini said:
(Sun, Jan 8, 2012 09:29:28 PM)
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A good business strategy should cover the various aspects that contribute to the success of the concerned business. The goals, objectives, feasilbily, constranints (time, labour, finance, tecnology) , the scope, potential, profit and the various risks involved.
Only a foolish king would have headed for a war without strategy. The world changes. Sure thing. People Change too. But not their needs.
A sytematic approach to anything will take us on the path of success. It also allows us identify any mistake or error made by us quickly.
Making and Following a business strategy definitely involves hardwork and being disciplined. But it is a sure-shot path to success.
An ad-hoc approach could lead to stress & unhealthy lifestyle. |
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Rate this: +49 -1
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Mohan Rao said:
(Sun, Dec 18, 2011 06:45:25 AM)
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Change is always evident. If the answer to the above question is no then no computer manufacturer would profit in this world because the technology is changing constantly.
Obviously strategy is required. Strategy itself needs to be devised in such a way that takes care of the factors that changes the nature of business. Expansion and developments in derivative markets and risk management is a brilliant example.
Change that concerns business are of two types : Risks and Uncertainities
Uncertainities cannot be quantified and it is very difficult to devise strategies to perfectly insure the uncertainities.
Risks can be quantified based on the past observations and hence can be managed by devising proper strategies. |
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Rate this: +67 -1
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Amarnath said:
(Fri, Dec 16, 2011 11:12:42 AM)
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| I am agree with my all friend any bussiness required strategy without strategy we could no able to run a bussiness in long turn, Running bussiness without strategy is like a gambling. |
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Rate this: +3 -11
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Rahul Pai said:
(Tue, Dec 13, 2011 06:45:03 AM)
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Agreed that the world keeps on changing everyday but the needs of the changing world stay static over a period of time and businesses aren't a one day story. They say Rome was not built in a day, and so isn't an empire established in a days time. Planning behind anything we do and everything we do is equally important as is reaching the goal. Strategies, though are devised in the present and are expected to work for an unpredictable future are still essential to calculate the progress in the desired direction and if bridge the gap from the expected to the actual results in case of deviations. Strategies are like an being armored getting into the war called business. It doesn't guarantee you will survive the battle but it assures that the injuries would be less and infrequent in addition to providing you a chance to defend yourself with slight dynamic changes in the strategies for survival. Of course, plan B and if required plan C as backup is always advisable.
However, if we think of going ahead without a preplanned business strategy (or for that matter strategy or planning in anything we do), we will need to look for a similar alternative which will yield results in the long run and be flexible enough to mend with the changing world, day in and day out. Failure in finding the alternative will certainly land us (and the business) in high risk and even great losses as preplanned strategies provide an edge over others without one, and makes the roadway to success visible and achievable. |
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Pathy said:
(Tue, Nov 29, 2011 01:08:21 PM)
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| Business Strategy is very important in any business, but it should be made in such a sense that it a modifyable in future. |
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Puja said:
(Mon, Nov 28, 2011 03:01:22 PM)
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Hello friends, according to me business strategy is very important, without making strategies you can't even think of establishing a business. It is the strategy where you decide what products you want to make, to whom do you want to sell them and where at what price. Without strategies even you can't make your basic decisions of business, competing in market is way ahead.
I agree that world is changing each day but business strategies are always made keeping this fact in mind, there are long term strategies and that is why they are called strategy. Any business can't grow if they don't know that what do they want to achieve and where do they want to go and how. |
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Jayesh said:
(Sun, Nov 6, 2011 12:32:23 PM)
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I feel Business Strategy is a must for any organisation. One cannot run a business with a long term strategy. However, if a business strategy is made keeping in mind that changes that can affect your business it would be like a jewel in the crown.
Business strategies with contingency plans can help to tackle external forces that leads to changes in business process. Always have a back up plan to deal with the day to day change factors keeping your business strategy a prime goal to follow. |
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Vishal Sharma said:
(Fri, Nov 4, 2011 02:20:16 PM)
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Yes there resides a point of having strategies as they are the initiatives. Moreover business couldn't be establish without applying strategies, nearly every moment strategies are required so as to make optimum use of resources lying in our hand.
Moreover world will be changing like this only so believe in yourself and efficiently transform your plans in an era of possibilities. |
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Debdatta said:
(Thu, Oct 20, 2011 08:11:53 PM)
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Business Strategy is actually a study of integrating Business Plans of different departments that individually leads to the same goal of making profit.Thus in equation we can write:
Plans(Operational+Financial)of Purchase Department
+Plans(Operational+Financial)of Production Department
+Plans(Operational+Financial)of Quality Department
+Plans(Operational+Financial)of Accounts Department= Business Strategy of Whole Organisation in terms of profit.
So Business Strategy is important for integration |
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Ashish Pandey said:
(Wed, Oct 19, 2011 10:56:33 AM)
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| I think this business oriented world is just like a competitive global arena and if you want to deserve in this arena then you have to perform better than others otherwise you will be treated as an underdog person by your business rivals. For this we have to upgrade ourself and adopt those strategies with the help of which we can become eminent in any business. |
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Rate this: +4 -0
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Poonam Pal said:
(Sun, Sep 25, 2011 09:50:03 PM)
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| Ya according to me business strategy is must in any type of business no matter it is small or large, but if someone works without strategy that means he want to fly in sky without any type of flying tool and its impossible, so if anyone want to succeed in business so first requirement is keen observation and after that well planning and I m sure that the result is always in increasing graph. |
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Rate this: +4 -3
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Souvik Mishra said:
(Wed, Sep 14, 2011 07:04:38 PM)
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| Firstly strategies are something which are never of any use until and unless they are implemented properly. Secondly in business everybody wants profit and apply various strategies for gaining it. With the changing world the ethics of business does not change. So its not about changing the strategies its about implementation seeing the situation and needs of the consumer. After all consumers are the ones who rule the base of any business activity. The strategy is simple of making profit but it is just given a different form seeing the scenario. Certain businesses need rigorous study of consumer demands, needs and satisfaction for which marketing is required. Others have sole intention of getting products sold by any means. This is where marketing strategy needs to be reformed and modified with the ultimate goal consumer satisfaction. |
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Sanjeev said:
(Sun, Sep 4, 2011 03:18:09 PM)
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| As the world is changing very fastly. It is impossible to have a long term strategy to run a buissness. I would suggest that for every organisation doing buissness, as there is always hav a vision and some rule of that organisation. There is a quality of the product produced. So there must be short strategy to hav a balance between the quality of goods and effect of changing buissness conditions. For this you must hav a dedicated staff workerswho can monitar the conditions of changing econmy and can take rapid actions but the decision must b taken considering the quality of goods/sevices. Can't comprimise with this. |
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Puneet Bansal said:
(Wed, Aug 24, 2011 07:19:23 PM)
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| There is nothing wrong in having any strategy as future is uncertain anything could happen but what once decided have to be implemented irrespective of what happen around you. Its only that something drastic has changed that company can be affected by the decision it had taken in that case they can review the decision. |
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Sneha said:
(Fri, Aug 12, 2011 09:01:16 PM)
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| In this changing world of competition I don't think a long term strategy would work for any business house. If you want to survive in this tedious world you have to observe the flow of river at all points and then prepare your strategies in accordance to that. As it is very correctly told that in order to prove your excellence in business you need to take instantenous decisions and those who are worth it will win in the long run. |
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Rate this: +11 -2
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Chandra Prakash Singh said:
(Thu, Jul 28, 2011 06:03:49 PM)
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Hello friends.
In my opinion business strategy doesn't mean permanent business strategy. Always there should be a strategy for any important step in our life, why not in this very important field where we are going to invest our so much man and money?
Although it is true that in today's environment the market is changing day-by-day so we have a lot of problem in making the business strategies. That is the reason now a days some instant plans are made even by lower management authority at the instant according to the position of the market. It is also true that according to today's market condition the parallel management strategy is suitable. |
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Rate this: +1 -1
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Nitin said:
(Tue, Jul 26, 2011 11:17:30 PM)
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| Business strategies are like ERP packages. They need to be upgraded and customized from time to time. The concept of change management conveys us to run with the world otherwise the organization will loose the race of cutting throats. who says you need to have a long term strategy? If the world is changing from month to month , you develop a habit of making monthly (Short term) strategy. Ultimately you have to keep your plan ready whatever may be the situation of the world. so the topic of discussion is merely an excuse. |
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Nitin said:
(Tue, Jul 26, 2011 11:03:39 PM)
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| Business strategies are like ERP packages. They need to be upgraded and customized from time to time. The concept of change management conveys us to run with the world otherwise the organization will loose the race of cutting throats. who says you need to have a long term strategy? If the world is changing from month to month , you develop a habit of making monthly (Short term) strategy. Ultimately you have to keep your plan ready whatever may be the situation of the world. so the topic of discussion is merely an excuse. |
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Sharmistha said:
(Wed, Jul 20, 2011 11:28:58 PM)
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| Anything which is constant in this world is the "change", and so is the case with the market in the present scenario. But when it comes to designing a strategy by a company towards launching of a new product or foraying into the different market etc, it aims towards the long term goal. Designing a strategy involves preparing a competitive intelligence report that shows the present market position of the company by doing SWOT, PESTLE and PORTER 5 force analysis, which is very important for long term sustainance of the company, irrespective of the market changes which are short term in nature. |
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Shoaib said:
(Wed, Jul 20, 2011 10:12:50 AM)
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| Strategy is must for a business to prosper in this competitive business world. without strategy no business can survive. No matter whether world is changing either month by month or hour by hour but chalking out plans and their execution in the long run is must for any sort of business. Plans must always be adoptable to changes. Planning as a function of management is time consuming for sure but well planned strategies are the one which makes a business to survive in the long run irrespective it takes time to plan out the policies. |
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Rohan said:
(Sun, Jul 17, 2011 04:01:38 PM)
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| A business strategy relates to the future forecasting of the business and its advantages and problems that lie ahead. With a proper planned business strategy. With well defined values n vision n mission. A firm can excel in thier field for sure. So thus business strategy is very important even though the changes taking place. Business plans and strategie can be modified seeking a change in the future. |
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Hemapriya said:
(Mon, Jul 11, 2011 05:15:21 AM)
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| Business strategy is nothing but plan regarding future forecast about our action in a firm. It necessary to prepare strategy based on future and present. If a firm faces an uncertain there, change in strategy is required to make a company survival in long run. |
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Krashikumar said:
(Fri, Jun 17, 2011 07:14:25 AM)
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| Absolutely very important. What is strategy ? To put it very simple its chalking out the whole plan, then designing its execution, assessing its profitable aspects and preparing for any untoward hiccups if they happen, that is planning with a long term objective but meeting out the immediate demands.Fluctuation in market is a constant pheonomenon, but outcasting strategy for that matter is a silly notion. |
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Tanvii said:
(Mon, Jun 13, 2011 04:03:16 AM)
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Yes it is absolutely necessary to make business strategy.
Business strategy is one of the key factor that relates an organization to its success. A good business strategy can give a company a strong advantage over other companies. No company can progress much without setting out its long term goals and the direction in which the company wants to head.
However as the world is constantly changing, rules, laws, completion, customer demands, markets etc are constantly changing, we cannot have just fixed idea as to what our company strategy should be. Change is constant and thus changing business strategies with this progressive world becomes a must for any company.
Take a computer firm for example, It knows what product it must develop and has sets out a strategy on how to go about the development of the product. But for a long term project Project plans must be adaptable. The plan should allow adoption of latest and most efficient technology. The plan should be flexible enough to allow to adjust change in consumer demands etc. |
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Guruprasad said:
(Mon, Jun 13, 2011 03:44:16 AM)
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| Running a huge organizations involves lot of challenges. Business strategies are not changed month wise and day to day basis. The strategies and decisions are taken by predicting the various aspects such as market, customers ten years down the line. Its not done keeping one month ahead. |
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Biplab said:
(Fri, May 27, 2011 05:32:05 PM)
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Strategy is the path towards achieving goal. Without the way how is this possible to reach there? So it should be like a strong backup.
But following the same strategy does not guarantee success, because the market is changing, more competitors are lining up, policies are changing as the world is changing day by day. The strategy has to be updated, it should be that much flexible to sustain in this competitive environment. Otherwise it may even become obsolete. |
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Ashish Mehta said:
(Mon, May 23, 2011 09:58:13 PM)
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Business Strategy means Business Planning or Business Forward Path. Forward PAth or Planning are required for successful execution of any project or even small tasks.
Reasons are, in strategy, we are taking care of Busniess long and short term objectives, Macro/ Micro environment factors, resouces required for achieving long/ short term objectives, defining threats and competitors, defining strength and opportunity, developing contigency plan, etc..So, Business strategy is giving direction to the business. In the world nothing is constant, so obviously world will keep changing on continuos basis - not even month to month basis. Our strategy should forcast and consider change in the planning only.
Running busniess without strategy means Persons withou aim. |
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Mukesh Kashyap said:
(Mon, May 23, 2011 12:17:26 PM)
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| Strategy is the much needed thing even in the rapidly changing scenario. Even everyday we make strategy for spending our day to day life so how it is possible that without strategy someone can run organization. Strategy is required but it also require proper evaluation and modification as time changes. |
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Sneha.... said:
(Mon, May 9, 2011 06:48:12 AM)
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Strategy is a plan for achieving objective. Strategy is made after the Objective is fixed. Every Business Organisations whether it is small or large organisation needs to form a Business Strategy. It is true that the world is changes month to month. So long term Strategy is not useful but then also we need to make Strategy, but is should be flexible. It can be change whenever market is change.
Every work has some reason like that every business has a objective.
And like that we want to do plan for every work like that every business has to make Strategy. |
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Avinash Rathod said:
(Sat, May 7, 2011 09:31:49 AM)
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Yes we got to have the basic theme right & the strategy has to be flexible.
Ex: One must be prepared well in advance before policy changes by deriving multiple possibilities & probability. |
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Angika said:
(Fri, May 6, 2011 12:42:47 PM)
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| The top management of every company includes people having vast experience of 20-25years in their field. No matter how many degrees you have but the real work experience teaches a lot. Planning in any organization is beginning steps. Those who clear CAT also make strategies that how many questions they have to do in what time. Market evaluation, foreign investment, government decisions, profit, competitors all decides the business outcome. No matter how dynamic the situation is every MNC is capable to withstand the negative/positive change in this era of globalization. |
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Hufriyar said:
(Wed, Apr 20, 2011 03:01:41 PM)
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| Strategy in any field is important. Working without strategy is like aiming for something without a goal. Business cannot have constant ideas. Surviving in the latest competitive changing market you need to have strategies but which are flexible. |
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Rakesh said:
(Thu, Mar 31, 2011 07:44:18 AM)
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| Strategy is first step for any business, also its backbone of business. Without any strategy or system all the work in that company will be messed up. As change of market is concerned, a good strategy should include how to cope with each and every future changes. And if the drastic change occurs than stratagy can be amended to cope with that change but i feel these kind of change does not occurs month to month. So, I'll conclude that business strategy is key for its success and without strategy no one can think to stand in this competitive market. |
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Rate this: +3 -1
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Jayesh Bhargava said:
(Wed, Mar 16, 2011 02:31:28 PM)
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| Business strategies are the blue print for the success of the business. In other words, business strategies are the outlay which are prepared by the entrepreneur for proper management and execution of the plan. Due to the changing world or any other such condition cannot lead enterpriser to forbids its mantra for success, hence strategies are the perquisite for any healthy business ... |
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Vishal said:
(Wed, Mar 16, 2011 06:29:54 AM)
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I would say the main focus of any kind of strategy is only on the profit, profit and profit. The business strategy mainly depends on the past and current status of market, selling, customers and mainly on the no. Of competitors in the market. Because if there are no competitors than it would become a kind of monopoly for the organizers and can take desire amount on the products. If there are very few competitors than they can stand in the market by offering special offers on the products and can make the people convince for their product. If there are more competitors than they have to more concentrate on the selling and keeping the large no. Of customers in the favour of their products. And if the newly developed company is coming into the market it has to follow some new strategy. And so.
So I would say the strategy differs from situation to situation and organization to organization.
And retailers must follow the common business strategy that involves kindness towards customers, to provide proper guidance regarding products to customers, proper response to the customer, must always ready to solve the problems of the customers. |
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Sai said:
(Wed, Mar 16, 2011 02:04:16 AM)
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Business strategy is very important to cope with the today's competitive market. The world is changing very rapidly, hence we have to formulate new business strategy according to the changing world.
So finally I would like to say we should prepare the strategies but it should be flexible with the changing market in the competitive global market. |
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Gaurav said:
(Mon, Mar 7, 2011 08:10:50 AM)
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| Business strategy is the key factor for any organization to achieve success.And as far as the change is concern than any good strategy is always decided by taking into account all future possible changes and backup for possible problems. |
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Pranjali said:
(Mon, Mar 7, 2011 01:13:50 AM)
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| I think business strategy is very impoortant and is the first step to success. We can never achieve a goal without having way to reach it. May be some time we need to modify the strategy but without having basic theme, no one can modify it. In fact in the changing world we can get a better idea to succeed with the planned strategy. We can use the new techniques to get ahead quicker. |
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Chhavi said:
(Fri, Mar 4, 2011 03:09:30 AM)
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| For achieving any formidable task there has to be a systematic strategy in place, which assures the logistics are set and there is proper co-ordination. Given an undertaking, the first thing that comes to mind is effective planning. In order to tackle complex business problems, a sound business strategy is required. Though the strategy will be contingent upont the currently prevailing circumstances, and it will be changing frequently....that does not mean it can be forewent |
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Nirav said:
(Fri, Mar 4, 2011 12:21:37 AM)
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Obviously there need to have a strategy, We say smart work is important than hard work so the strategy gives that smartness.
Now as the world is changing day by day the strategy needs to be smart enough and considering that future change.
That's why there are MBA in market And I guess that's what they are learning as a student |
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Priyesh said:
(Tue, Mar 1, 2011 09:59:56 AM)
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Business strategy is one of the key factor that relates an organization to its success. Since the world is changing everyday so we cant rely on the existing strategies that we have made earlier, rather we require to modify it when we find suitable time. In this competitive market where each company has to compete others to stand on the good position we have to keep in pace with the whole world which is changing month to month.
So Finally I want to tell that making strategies is essential and some part of it should be flexible to be modified in day to day basis. |
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Snil Mahor said:
(Sun, Sep 12, 2010 02:13:31 AM)
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| No we can not make strategy in the changing world. If we make strategy today it will not work in coming time. So we will have need to change strategy time to time. |
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