Is there any Point in having a Business Strategy when the World changes from Month to Month?
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 6 of 11.
Debdatta said:
1 decade ago
Business Strategy is actually a study of integrating Business Plans of different departments that individually leads to the same goal of making profit.Thus in equation we can write:
Plans(Operational+Financial)of Purchase Department
+Plans(Operational+Financial)of Production Department
+Plans(Operational+Financial)of Quality Department
+Plans(Operational+Financial)of Accounts Department= Business Strategy of Whole Organisation in terms of profit.
So Business Strategy is important for integration
Plans(Operational+Financial)of Purchase Department
+Plans(Operational+Financial)of Production Department
+Plans(Operational+Financial)of Quality Department
+Plans(Operational+Financial)of Accounts Department= Business Strategy of Whole Organisation in terms of profit.
So Business Strategy is important for integration
(3)
Jayesh said:
1 decade ago
I feel Business Strategy is a must for any organisation. One cannot run a business with a long term strategy. However, if a business strategy is made keeping in mind that changes that can affect your business it would be like a jewel in the crown.
Business strategies with contingency plans can help to tackle external forces that leads to changes in business process. Always have a back up plan to deal with the day to day change factors keeping your business strategy a prime goal to follow.
Business strategies with contingency plans can help to tackle external forces that leads to changes in business process. Always have a back up plan to deal with the day to day change factors keeping your business strategy a prime goal to follow.
(11)
Sameer said:
1 decade ago
I am agree that a business strategy should be change month to month but one thing should be common that "needs". Needs will constant. As example for petrol price. Petrol price are increasing day to day but needs are same. So strategy should be in a such way that we can fulfill customer's demand as well as needs. A successful strategy has some aspect like a fix goal, feasibility, low labour and high output. So strategy in a such way that fulfill present demand as well as future needs also.
(53)
Priya choudhary said:
1 decade ago
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.
(8)
Saurabh said:
1 decade ago
Yes I agree with this statement. Though the world is changing day by day but if there is no business strategy then you cannot cope with the changing world. The business strategy strikes the mind of the employ working with the firm about the goal of the company and encourages them to deal with the changing world.
If you do not have any strategy the you will be a blind player in the market with no base. Strategy should be changeable but present for proper working condition within a firm.
If you do not have any strategy the you will be a blind player in the market with no base. Strategy should be changeable but present for proper working condition within a firm.
(14)
Subhashini Perumal said:
1 decade ago
In my point of view, Strategy in business is must for developing the business to next stage. Strategy is nothing but a course of action that every business should attain there long term goal. Strategy of a business should be in such a way it should be flexible enough to adapt itself for current business scenario which is very important to develop the business foer current trend. So, finally I can say that strategy is very important to acheive the heights in competeting business world.
(4)
Rishi sharma said:
1 decade ago
The topic is very awesome. ! From my point of view every business needs strategies to defence the regular uncertainities. In this word every business or firm are tottaly depends on their customers. If any change recorded by an firm so definately they have need to plan to walk out from that particular situation. But the very important thing in business is to vigil market taste. What dere customer actaually demanding. This is the main rule ''if fail to plan it means you plan to fail''.
(5)
Kranthi said:
1 decade ago
For any Business organisation, strategies are essential. These strategies must be adaptable and flexible with changing market. A good strategy leads to a good result. Of course, all plans might not lead to success, but surely help in improving our existing strategies. Strategy formulation is inevitable for any organisation to succeed in this competitive era.
A plan can lead us to the next step of our goal. So, if goal is our destination then good strategies are steps to reach it.
A plan can lead us to the next step of our goal. So, if goal is our destination then good strategies are steps to reach it.
(10)
Shamim Arora said:
1 decade ago
Strategy is a kind of business plan which is not static, but its dynamic as it is varying with time as per customer demands.
Strategy is needed to start work in particular direction. Otherwise no one who is doing business is unidirectional, but with the demand it needs to be upgraded or modified. As the main function of any business is to get profit. So mainly it should varies as per customer or market expectations.
So Strategy is needed in business but it should not be rigid.
Strategy is needed to start work in particular direction. Otherwise no one who is doing business is unidirectional, but with the demand it needs to be upgraded or modified. As the main function of any business is to get profit. So mainly it should varies as per customer or market expectations.
So Strategy is needed in business but it should not be rigid.
(14)
Sharat Kumar Malick said:
1 decade ago
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.
This a a complex matrix and getting the best possible solution is the profit maximum.
(4)
Post your thoughts here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers