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

Group Discussion
Points to remember before you participate in this discussion:
  • Assume you are one of the members of a real group discussion.
  • Take the initiative to participate and contribute your thoughts.
  • Contribute your positive thoughts towards providing the solution.
  • Post your thoughts here.
Discussion:
106 comments Page 1 of 11.

Rahul Pai said:   1 decade ago
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.
(24)

Neeraj said:   7 years ago
Hi Guys,

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.
(14)

Ashish kumar said:   1 decade ago
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.
(4)

Tanvii said:   1 decade ago
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.
(13)

SHILPI said:   9 years ago
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.
(21)

TRIPLES SSS said:   1 decade ago
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.
(3)

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)

ASHISH KATARIYA said:   1 decade ago
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.
(15)

Pallavini said:   1 decade ago
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.
(19)

Deeksha saxena said:   1 decade ago
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.
(8)


Post your thoughts here:

Your comments will be displayed after verification.