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

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.

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.

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.

For the above question, answer is yes. Business strategy is the only tool which you can use against the unpredictable time. As we do not know that what will happen in next 2 month, whether we will get raw material for the production of final goods or not and etc. Are threat to the business. So to avoid all such threat, we go for business strategy in which we prepare our strategy according to market condition & competitor which involve everything from planning to controlling and short term plan to long term plan. Proper business based on accurate prediction will never fail or till some extent it will cover your loss and help you to get edge over your competitor and have a stable growth over the year by keeping happy your staff, management, shareholders, investors, government and society.

Hello friends. My point of view is making a business strategy is good when we start a business but there is nothing fixed. As the technology changes, so do the demands of the people. If the Nokia company continue to sell his N93 at the same price 10,000 or more, do you think anyone will buy it, not at least today when we have smartphones at such a reasonable prices. So business strategy is good but it needs to be updated from time to time.

Just to add to the points above, a business cannot run without an effective plan and strategy. Though the market is changing from month to month the main reason behind a strategy is to predict those changes and stay on top of them. I agree that there will always be some changes and that's why a strategy should be adaptable and should be reviewed from time to time to inculcate the changes in the market.

Hi friends.

I am very glad to speak about this topic.

Yes I agree that world is changing from month to month, but I just want to ask you a question does a knight comes in a battle field without shield, even he does not know from from where enemy will attack him. Business strategies are like that shield, although world is changing but strategies are important.

We have so many different scientific methods of forecasting, we can make our strategies based on that data. Strategies should also be on ethical basis so any change in government policies would not affect our strategies.

But as we know that every coin has two sides. We can't neglect the chances of any change so we should be prepared to make necessary changes in our strategies.

Hello.

In this competitive world, the marketing strategies is must for business.

Customers are our boss, so we need to satisfy the customer needs then only we can sustain in the market in this competitive world.

Another one is profit, this is also one of the important factor in this competitive world.

Thank you all.

I will also place my point in this wonderful topic, as per my point of view the any of the organization stands in the market, because of the good strategies. Without making strategy functions can not be run for long time.

Moreover as the catch point here is world is being changed, so the old strategy can not be applied in every function. And if we will not make the new strategy with so many transforms, than it is very difficult to adopt the new systems by the people with outdated strategies, so the strategies must be updated with time to time as per changes done.

To my opinion yes, we surely need business strategies in the business, even when the world changes from month to month.

It is simple since we were young, we were always asked to prepare regularly and in a planned manner for our exams at school & colleges, then why not now?

Strategies, help us setting goals, knowing the outcome, we can understand where we lie, where we need to reach.

Customer attraction methods can be studied upon, working in a particular manner even for a very little time, keeps the firm, or the employees of the firm together as a team and gives them a correct direction.

As far as changing World in concerned, strategies can be revised, without hindering the final goal, methods can be changed for the same outcome.

Changing market or World, is a benefit, for you can use this as an opportunity for doing something new & innovative.

So strategies made with with flexible minds will always be better to compete in this global economic World.