Points to remember before you participate in this discussion:
|Pankaj said: (Nov 24, 2017)|
According to me, business strategy is a key of success in any business without this no business can run for long time and will collapse soon. In present competition era a business man need to be ready with new plan every time for meeting the customer demand.
|Manav said: (Aug 27, 2017)|
|According to my point of view, to understand the meaning strategy is very important for any entrepreneur or any businessman because the 50 % of the whole business depends upon the basic market strategy and marketing awareness it's actually a part market strategy.
Without working on market strategy or any plans for your product or business may be you will get in trouble any you actually pay more money you have to use your intelligence you have to now who is your customer And which customer I should call. If the market change day by day you have to build hours by hours strategy for your business.
|Neeraj said: (Aug 12, 2017)|
As we all know that world is transforming rapidly in front of us where there is more and more need to keep focus on the work procedure to gain something in the business life. Making strategy is a way to achieve target in the business. Without any strategy we can not expect even average positive result in our hands. We all are aware that when we talk about development of the country so we talk about the people of the nation and if people are doing well it means each one is able to do his/her best to the task so business is nothing but part of the nation where there is more & more need of making proper strategy so that each one can handle the situation well.
Let me explain a true story of my friend's family so that I can give you better display of importance of the strategy in our work place. Actually that family was quite poor just two years ago but now that family is a rich family and when I saw so I was extremely happy seeing that and now they are rich not only with the money but also their behavior I tried to ask the hidden formula and they told me that we have changed our planing to achieve the things that's why now we are changed in the society.
So with the help of strategy we use to modify ourselves to gain more and more benefits.
|Anamika said: (Jun 23, 2017)|
|According to me, of course, business strategy is required for any kind of business to work smoothly. Business houses need to change its strategy as and when required. Without a strategy, there will be no discipline of work, which will lead to the messy environment which will ultimately affect the profits of the business. Without a business strategy, a business will easily get knocked out by other business in competition in the market. Thank you.|
|Imran Khan said: (Oct 11, 2016)|
|Without business strategy a company would be analogous to a human body without a brain i.e it would be directionless. Yes, it is true that today the world is changing very rapidly so do our business strategy should change to acclimatize with it. And this would be possible with the use of technology such as digital marketing, big data as a service (BDaas) etc. Today many companies uses this technology to get the valuable trend, perception about the consumers, competitors etc which helps them to formulate their strategy. For example, Amazon with the use of data analytics collects data of every customer who visits the website based on past trend of that particular purchases amazon shows related products. In this way, it can be said that only constant is change.|
|Hari said: (Sep 28, 2016)|
|Business strategy is very important in the present day world. A Business without a strategy is like a ship without navigation system. So to control the business and have good success in the market the business strategy should change according to the market requirements and consumer desires. For any business to be successful they must a strategy which is changing according to the world.|
|Mayur said: (Sep 24, 2016)|
"Failure to Plan is Planning To Fail" The World Changes every now and then but that doesn't mean we should leave it without Planning. The Rapid industrialization with advanced technologies getting things easier has to lead to the change in work culture & Management Systems helping to get the work done Efficiently in Time has been the trend of the market. For Achieving Anything we should have a Strategy and for Achieving the Goals of the Company We should have a Business Strategy because we would be coming across various Analysis while framing a Business Strategy giving us an Idea of the Forth Coming Scenarios. So from my Perspective A Business Strategy is Foremost Important in a Business Cycle combined with Transitional Changes.
|Megha said: (Sep 22, 2016)|
Yes, of course. I think that a business strategy is of utmost importance as for any business to work a proper planning has to be and should be done. For example, if we consider an FMCG company then we can see that the production is done by such a company solely depends on upon the forecasted demand which is actually a virtually evaluated value and such calculations that are done are a part of the strategy of a business only.
And even with the world changing from month to month, the business strategies can be modified in such a way that it maximizes the profit of the business. :)
|Neeraj said: (Sep 14, 2016)|
|Yes, it's necessary to have the strategy because without planning you cannot reach the goal. This is just like sports in which every moment you have to strategy and skills parallelly. Taking an example of Jio sim first spread with free usage, created addiction among customs. Now Jio gets popular and near about flopping all rival companies. From this, I must say the strategy is a necessity.|
|Yunus said: (Jul 28, 2016)|
|As per my thought, Strategy is a plan for achieving objective.|
|Sujay said: (Jul 23, 2016)|
|The strategy is such a word which is required for almost any kind of work.
If you are giving any competitive exam you should follow strategy required for different exams as syllabus keeps on changing. Similarly a business strategy is not stable it must keep on changing as per present market situation such as demand of product, cost etc.
|Mansi said: (Jul 5, 2016)|
|Yes, of course. I totally agree with the point that there should b a business strategy. Without planning business would collapse soon as no one would be knowing what to do further. We know that in this globalised world Business environment is dynamic and it changes very quickly due to up gradation of technology. So as 2 remain in the sector corporates need 2 have a diff strategy 2 survive in this competitive world.
|Vinesh said: (Jul 4, 2016)|
|Though the world is changing from time to time which is inevitable and is following laws of nature it is as important to have the strategy for a business as a shell for a nut.
Let me illustrate this by an example Suppose I want to be the best seller of a product in the market, this is my objective. To accomplish this objective my strategy is to give the best quality at affordable rates.
But parameter changes with time like raw material cost, labour, demand, market condition, govt policies, etc.
But my strategy remains same and step to implement strategies keeps on changing.
|Priyanka said: (Feb 2, 2016)|
|A business is a field of strategies without planning business does not exist without proper planning business may undergo big loss. To overcome risk and losses business must plan and it must go according to plans of the business so in business field, we have separate department called research department if any changes in technology or in the market they will take care of it.|
|Shilpi said: (Feb 20, 2015)|
|To go on a trip in vacations we start planning before 4-5 months that how is the place, where we stay, what we will see. So, for a simple trip if we plan strategies that is also tentative than to run a business how can we ignore such a crucial step of planning.
A business can be start by an idea but to make it successful we have to plan strategies step by step. But strategies in today world's should be a amalgamation of both rigidity and flexibility.
Rigid in the core working such as its completion of targets in making, maintaining the overall turnover but should be flexible in some planning changing according to the demand of the consumer, improving it sales, increasing production.
As universally define change is the law of nature so the strategies should be as the time passes the companies should make some changes in their strategist to compete the present market but at the time should also maintain their core strategies remain unchanged on which their company stand.
|Bmgindia said: (Mar 20, 2014)|
|Yes, following a particular business strategy is must to face the new challenges of business environment. Global consultancy company may help in great way by suggesting new process engineering and management tricks based upon time tested theories like DFSS, Lean theory, Triz theory or others.|
|Poonamverma said: (Mar 7, 2014)|
|YES this statement is correct. According to me business strategy is the base of any business. We all know that today the competition is very tough in the market for any business whether business is on local, national and international level. In this ever changing world if you don't have systematic strategy then you cannot stabilize your business over long time. And one more point to consider when we talk about the strategy, strategy is always according to changes in today not on previous techniques. I think growth of any business is directly proportional to the strategy.|
|Shantanu Ghosal said: (Mar 4, 2014)|
Business Strategy works at the very core of an organisation and s responsible for the propagation and expansion of a business.
Business Strategy is a result of a whole lot of research, observation, analysis, study and expert advises. It is the anchor that forewarns an organisation about the impending market situations and helps out the firm during tough times.
The very changes that occur and make the market change continuously are itself results of long term business strategies.
So however dynamic the market can get, Business Strategies will never lose their importance.
|Rohit said: (Feb 26, 2014)|
|The strategies are not set up overnight. It involves expertise, study, observations analysis, Market research and so on. Everything have been studied well and then depending on the results and the expected future scenario, the strategies have set up.
Ultimately, if anything changes overnight, there are certain things that has been adopted or give up as per the situation demands. This does no means that with changing scenario one should changes the strategies. Strategies plays a role for long run.
Irrespective of Global changes, I believe that strategies always protects from any such harms. So yes, one should not suppose that the strategies are worthless which are supposed to change with each market scenario. Rather to work more hard on it so that it will protect from the same.
|Manoj Majumdar said: (Feb 24, 2014)|
|Business strategies should be made in consideration with today's changing world. Definitely adopting a strategy helps in one's business growth as it provides it an organized way to do business tasks. Without a strategy a business is more likely to fail in long term even if it has a stable start in the beginning.|
|Rajeev said: (Feb 24, 2014)|
|Survival and Growth of every business revolve around 2 aspects viz. Customer satisfaction and profitability. In order to achieve these two goals the organization should have a clear business policy and strategy. In the rapidly changing business scenario it is very difficult to adopt a long term strategy. We should frame the business strategy in such a manner that the same could be changed from time to time as situation warrants.|
|Saurabh said: (Jan 29, 2014)|
|Yes I agree with this statement. Though the world is changing day by day but if there is no business strategy then you cannot cope with the changing world. The business strategy strikes the mind of the employ working with the firm about the goal of the company and encourages them to deal with the changing world.
If you do not have any strategy the you will be a blind player in the market with no base. Strategy should be changeable but present for proper working condition within a firm.
|Aluri Sravani said: (Jan 29, 2014)|
I think strategies are what keeps an organization alive and outstanding. They are the shields which protect an organization from competition. But in this rapid changing world business strategies also have to undergo changes accordingly. They should be altered based on.
|Richie Khaneja said: (Jan 16, 2014)|
|In today's dynamic world, no business can sustain. So it has to adapt itself to the changing environment and for that the strategies should be such that they are flexible and can be modified when the situation so demands.
For instance, technology is changing at a fast pace so in such a situation the company should develop a long term technology strategy while remaining flexible enough to take advantage of unforeseen technology developments!
So I conclude by saying that no business can do without the strategies!
|Ashish Katariya said: (Jan 15, 2014)|
|To my opinion yes, we surely need business strategies in the business, even when the world changes from month to month.
It is simple since we were young, we were always asked to prepare regularly and in a planned manner for our exams at school & colleges, then why not now?
Strategies, help us setting goals, knowing the outcome, we can understand where we lie, where we need to reach.
Customer attraction methods can be studied upon, working in a particular manner even for a very little time, keeps the firm, or the employees of the firm together as a team and gives them a correct direction.
As far as changing World in concerned, strategies can be revised, without hindering the final goal, methods can be changed for the same outcome.
Changing market or World, is a benefit, for you can use this as an opportunity for doing something new & innovative.
So strategies made with with flexible minds will always be better to compete in this global economic World.
|Shweta said: (Jan 7, 2014)|
|I will also place my point in this wonderful topic, as per my point of view the any of the organization stands in the market, because of the good strategies. Without making strategy functions can not be run for long time.
Moreover as the catch point here is world is being changed, so the old strategy can not be applied in every function. And if we will not make the new strategy with so many transforms, than it is very difficult to adopt the new systems by the people with outdated strategies, so the strategies must be updated with time to time as per changes done.
|Mangai said: (Dec 4, 2013)|
In this competitive world, the marketing strategies is must for business.
Customers are our boss, so we need to satisfy the customer needs then only we can sustain in the market in this competitive world.
Another one is profit, this is also one of the important factor in this competitive world.
Thank you all.
|Harmeet said: (Nov 20, 2013)|
I am very glad to speak about this topic.
Yes I agree that world is changing from month to month, but I just want to ask you a question does a knight comes in a battle field without shield, even he does not know from from where enemy will attack him. Business strategies are like that shield, although world is changing but strategies are important.
We have so many different scientific methods of forecasting, we can make our strategies based on that data. Strategies should also be on ethical basis so any change in government policies would not affect our strategies.
But as we know that every coin has two sides. We can't neglect the chances of any change so we should be prepared to make necessary changes in our strategies.
|Rakesh Singh said: (Nov 5, 2013)|
|Just to add to the points above, a business cannot run without an effective plan and strategy. Though the market is changing from month to month the main reason behind a strategy is to predict those changes and stay on top of them. I agree that there will always be some changes and that's why a strategy should be adaptable and should be reviewed from time to time to inculcate the changes in the market.|
|Veronica said: (Oct 25, 2013)|
|Hello friends. My point of view is making a business strategy is good when we start a business but there is nothing fixed. As the technology changes, so do the demands of the people. If the Nokia company continue to sell his N93 at the same price 10,000 or more, do you think anyone will buy it, not at least today when we have smartphones at such a reasonable prices. So business strategy is good but it needs to be updated from time to time.|
|Abhay said: (Oct 11, 2013)|
|For the above question, answer is yes. Business strategy is the only tool which you can use against the unpredictable time. As we do not know that what will happen in next 2 month, whether we will get raw material for the production of final goods or not and etc. Are threat to the business. So to avoid all such threat, we go for business strategy in which we prepare our strategy according to market condition & competitor which involve everything from planning to controlling and short term plan to long term plan. Proper business based on accurate prediction will never fail or till some extent it will cover your loss and help you to get edge over your competitor and have a stable growth over the year by keeping happy your staff, management, shareholders, investors, government and society.|
|Reddykiran said: (Oct 9, 2013)|
|Good morning friends.
I feel a perfect strategy is essential in this competitive world to sustain for a long period. A strategy should be made by keeping dual goals in mind.
2. Customer satisfaction.
This can achieved by optimized use of resources.
|Saumitra Pathak said: (Oct 2, 2013)|
According to me, strategy should be updated timely. Because every one requires capital to start a business but to run a business, there should have a proper strategy. A strategy is not a one time work, it needs to be updated timely to face the current changes in the market. For an example, The strategy of Apple incorporation was to provide one Smartphone in a year but due to facing high competition from Samsung, it needs to change their strategy.
The basic of a successful strategy is that it should be properly revised within a reasonable time.
|Jagadish Prasad Yadav said: (Sep 25, 2013)|
|Business without strategy is something like body without soul, without a proper strategy it's next to impossible for an organization to succeed in this competitive world. Strategy is the path way which guides the organization towards its goal.
Now coming to the point as we know change is constant and rest all changes. This is the change which brought many innovations to this world, if we don't change our strategy with the changing world then it may land up with something unexpected.
A company's actual strategy should be partly planed and partly reactive to the changing circumstances. There should always be contingency strategy to face the uncertain challenges.
PLANED OR INTENDED STRATEGY + ADAPTIVE REACTIONS TO CHANGING CIRCUMSTANCES = ACTUAL STRATEGY.
|Kranthi said: (Aug 23, 2013)|
|For any Business organisation, strategies are essential. These strategies must be adaptable and flexible with changing market. A good strategy leads to a good result. Of course, all plans might not lead to success, but surely help in improving our existing strategies. Strategy formulation is inevitable for any organisation to succeed in this competitive era.
A plan can lead us to the next step of our goal. So, if goal is our destination then good strategies are steps to reach it.
|Deeksha Saxena said: (Aug 17, 2013)|
|A GOOD PLAN LEADS TO A GOOD RESULT.
For every successful business, a good strategy and a creative mind to manipulate that strategy is needed.
That's true that the world is continuously changing and so is the market conditions and the demands. Therefore, for an organization to keep standing successfully in the market, there should be a plan that can be changed accordingly, if needed.
It is essential to have a good plan keeping the future aspects in the mind.
For this, a good vision is needed.
Without a good plan, no organization can lead to a good results.
So the conclusion is this that having a business plan is essential to an organization but the plan should be made by keeping the future market demands and aspects in the mind, only then that plan can give the good results. Also, the plan should be such that can accept the changes i.e. it should not be rigid against the changes.
|Triples Sss said: (Aug 17, 2013)|
|First of all I would to say thanks to all my friends. It is good to appreciate that we get a such topic for discussion.
As per my opinion, a person cannot survive without suitable thought. In the same way business cannot survive and growth without proper business strategy. So we should make plan for success and growth in every situation. We should decide the strategy and make it modify as per changing the market situation. It is good to devote some time consciously every day for the survival and growth. If particular plan is fail then we should think for alternate plan instead of earlier plan which was fail. Most of the organisation they put so much effort to accomplish the business strategy even when they fail in particular plan they did not give up. Therefore we could say business is lifetime commitment and there is no question of the word 'GIVE UP' we should remove the word 'GIVE UP' from our own dictionary. It is only come when we made decision of business strategy.
|Harshika said: (Aug 16, 2013)|
|I would like to share my views in three points:
Firstly, there is a profit having a business strategy when the world changes from month to month because due to fast modernization new business strategies are also developed and only adoption of these is required to succeed in expanding business.
Secondly, profitable growth of business organisation comes only from the proper business strategy which is required to be innovated by experts.
Lastly, profit is calculated on the basis of business strategy only not on the changes made in the world from month to month so steps should be taken to control and coordinate the efforts of experts by employing employees under the experts.
|Babai Nandi said: (Aug 1, 2013)|
|Starting of a business and making profit from it, has huge difference. TO start a business it needs only a capital, but after that to run it it demands.
1. Visionary mind.
3. Quick decision making ability.
4. Proper plannings or strategies.
Business is like a chess game, it requires that every step which going to be taken, has to be reasonable. A wrong step (because of lack of vision) in business can ruin it. But we should keep in mind also that it is impossible to take correct decision always. To overcome that mistake it needs another strategy.
Let's take an example of Sir Jamsetji Tata. He started business with a cotton mill and capital of 21,000/- only. Now none of us is unfamiliar with TATA Group. So was world static ? The answer is simple. All of those stuff which they have, are result of proper strategy of Sir Jamsetji Tata and his descendant.
So the conclusion from my viewpoint is that business without strategy is an attempt of suicide.
|Ramniwas Jat said: (Jun 20, 2013)|
|Hi friends we are discussing here about a topic which is most desirable in present business scenario.
So in my opinion business strategy should be market oriented. So that it can be changed according to market situation, and then a firm can get maximum profit even in crucial market situation.
All resources of firm must be used for maximum profit with customer satisfaction.
The planning of business can take a business from bottom to top and vice versa.
|Chengappa M said: (May 25, 2013)|
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!
|Pallavini said: (May 1, 2013)|
|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.
|Govind said: (Apr 29, 2013)|
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.
|Poonam said: (Apr 23, 2013)|
|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.|
|Sharat Kumar Malick said: (Apr 12, 2013)|
|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.
|Priya Choudhary said: (Apr 7, 2013)|
|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.|
|Aditya S said: (Mar 28, 2013)|
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.
|Yash said: (Mar 26, 2013)|
|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.
|Parveen said: (Mar 17, 2013)|
|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.|
|Gyanchand said: (Mar 11, 2013)|
|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.|
|Sangram said: (Jan 12, 2013)|
|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.|
|Aditi said: (Dec 6, 2012)|
|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.
|Atul said: (Dec 4, 2012)|
|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.|
|Sameer Behari said: (Nov 25, 2012)|
|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.
|Sahil Patel said: (Nov 1, 2012)|
|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.|
|Zeeshan said: (Oct 19, 2012)|
|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.
|Abhinav Sahu said: (Sep 13, 2012)|
|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.|
|Neha said: (Aug 10, 2012)|
|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.|
|Ashish Kumar said: (Jun 26, 2012)|
|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.
|Rishi Sharma said: (Jun 18, 2012)|
|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''.|
|Reema Gupta said: (Jun 14, 2012)|
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.
|Mukesh Gupta S32732 said: (Jun 1, 2012)|
|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.|
|Sandeep said: (May 29, 2012)|
|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.|
|Sudarshan said: (May 28, 2012)|
|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.|
|Aufiyan said: (May 14, 2012)|
|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.|
|Bhushan said: (May 14, 2012)|
|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.
|Smarat Reddy said: (Apr 10, 2012)|
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!
|Heena said: (Apr 8, 2012)|
|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.|
|Priya said: (Apr 5, 2012)|
|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.|
|Shamim Arora said: (Mar 26, 2012)|
|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.
|Anudha said: (Mar 4, 2012)|
|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.|
|Sameer said: (Jan 23, 2012)|
|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.|
|Karuna said: (Jan 20, 2012)|
|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.
|Subhashini Perumal said: (Jan 19, 2012)|
|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.|
|Rini said: (Jan 8, 2012)|
|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.
|Mohan Rao said: (Dec 18, 2011)|
|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.
|Amarnath said: (Dec 16, 2011)|
|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.|
|Rahul Pai said: (Dec 13, 2011)|
|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.
|Pathy said: (Nov 29, 2011)|
|Business Strategy is very important in any business, but it should be made in such a sense that it a modifyable in future.|
|Puja said: (Nov 28, 2011)|
|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.
|Jayesh said: (Nov 6, 2011)|
|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.
|Vishal Sharma said: (Nov 4, 2011)|
|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.
|Debdatta said: (Oct 20, 2011)|
|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
|Ashish Pandey said: (Oct 19, 2011)|
|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.|
|Poonam Pal said: (Sep 25, 2011)|
|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.|
|Souvik Mishra said: (Sep 14, 2011)|
|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.|
|Sanjeev said: (Sep 4, 2011)|
|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.|
|Puneet Bansal said: (Aug 24, 2011)|
|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.|
|Sneha said: (Aug 12, 2011)|
|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.|
|Chandra Prakash Singh said: (Jul 28, 2011)|
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.
|Nitin said: (Jul 26, 2011)|
|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.|
|Nitin said: (Jul 26, 2011)|
|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.|
|Sharmistha said: (Jul 20, 2011)|
|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.|
|Shoaib said: (Jul 20, 2011)|
|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.|
|Rohan said: (Jul 17, 2011)|
|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.|
|Hemapriya said: (Jul 11, 2011)|
|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.|
|Krashikumar said: (Jun 17, 2011)|
|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.|
|Tanvii said: (Jun 13, 2011)|
|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.
|Guruprasad said: (Jun 13, 2011)|
|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.|
|Biplab said: (May 27, 2011)|
|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.
Is there any Point in having a Business Strategy when the World changes from Month to Month?
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