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

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.

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.

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!

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.

Hi friends,

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.

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.

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.

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.

Hello Friends,

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.

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.