Is there any Point in having a Business Strategy when the World changes from Month to Month?

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106 comments Page 1 of 11.

Mohan Rao said:   1 decade ago
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.
(80)

Neha said:   1 decade ago
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.
(61)

Harmeet said:   10 years ago
Hi friends.

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.
(61)

Heena said:   1 decade ago
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.
(60)

Rini said:   1 decade ago
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.
(57)

Sameer said:   1 decade ago
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.
(53)

Babai Nandi said:   1 decade ago
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.
2. Creativeness.
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.
(44)

Poonamverma said:   10 years ago
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.
(40)

Smarat Reddy said:   1 decade ago
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!
(37)

Nitin said:   1 decade ago
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.
(34)


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