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

Absolutely very important. What is strategy ? To put it very simple its chalking out the whole plan, then designing its execution, assessing its profitable aspects and preparing for any untoward hiccups if they happen, that is planning with a long term objective but meeting out the immediate demands.Fluctuation in market is a constant pheonomenon, but outcasting strategy for that matter is a silly notion.

The first step before starting or running any business is strategy. Planning is the utmost important task and should never be missed out. The plans should have a vision and the strategy/approach to achieve it.

Strategies need to dynamic, as per the needs of market and business. Also, the strategies once laid down can be used in different business scenarios as well. What we need to do is define their scope.

One can also expand over the current strategies. One strategy can stand as the base for another one.

Few strategies always stay for eg. Cost control, produce good quality items. There are varied type of strategies as well. For eg. Ones to adapt in times of crisis, handle risks.

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.

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.

Hello,

I think strategies are what keeps an organization alive and outstanding. They are the shields which protect an organization from competition. But in this rapid changing world business strategies also have to undergo changes accordingly. They should be altered based on.

-->Data.

-->Profit.

-->Customer satisfaction.

Developing a strategy itself means, planning for now and future by anticipating future trends. A good R&D team is must for organizations to forecast future and come with the strategies which will help them to perform better in changing world. Further we have no choice but to make strategies now.

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. :)

Hi.

According to me, business strategy is a key of success in any business without this no business can run for long time and will collapse soon. In present competition era a business man need to be ready with new plan every time for meeting the customer demand.

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

Strategy is the path towards achieving goal. Without the way how is this possible to reach there? So it should be like a strong backup.

But following the same strategy does not guarantee success, because the market is changing, more competitors are lining up, policies are changing as the world is changing day by day. The strategy has to be updated, it should be that much flexible to sustain in this competitive environment. Otherwise it may even become obsolete.