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

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106 comments Page 2 of 11.

Abhinav Sahu said:   1 decade ago
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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Saumitra Pathak said:   1 decade ago
Hello Fiends,

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.
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ReddyKiran said:   1 decade ago
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.

1. Profit.
2. Customer satisfaction.

This can achieved by optimized use of resources.
(28)

Imran khan said:   8 years ago
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.
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Atul said:   1 decade ago
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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Vinesh said:   9 years ago
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.
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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.
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Zeeshan said:   1 decade ago
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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Chengappa m said:   1 decade ago
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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Jagadish Prasad Yadav said:   1 decade ago
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.
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