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

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.

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.

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.

Thank you.

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.

As per my thought, Strategy is a plan for achieving objective.

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.

Hello everyone,

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. :)

Hello everyone,

"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.

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.

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.