Thursday, July 09, 2020
04:27 PM (GMT +5)

Go Back   CSS Forums > General > News & Articles

News & Articles Here you can share News and Articles that you consider important for the exam

Reply Share Thread: Submit Thread to Facebook Facebook     Submit Thread to Twitter Twitter     Submit Thread to Google+ Google+    
 
LinkBack Thread Tools Search this Thread
  #1  
Old Wednesday, April 01, 2009
adib's Avatar
Member
 
Join Date: Mar 2009
Location: Where love is
Posts: 52
Thanks: 10
Thanked 32 Times in 20 Posts
adib is on a distinguished road
Lightbulb Coping with changing environment throgh better strategic plan

Strategic Planning
Strategic planning is an art or process designed to help organizations & communities to establish & implement goals in changing environment. It's a vector that exudes the reflection of white light spot for achieving the organizational landmarks. While feeling blue it is appeared as a quick fix solution by going through whole intended scenario of the entity.

HOW WOULD WE GET ON THE REAL MEANING OF CHANGING
ENVIRONMENT?

The meaning of changing environment can be identified by below factors.

Economic Trends:

Economic change is a real dynamic indicator of environmental change ; organizations need to plot their future anticipating economic conditions & trends that are critical to the success; such as wages, prices charged by supplier & competitors, internal-external fiscal polices & other like factors as they directly affects the cost of operating business & if not planned strategically may take an entity in result of unaffordable loss in the business.

Technological breakthrough:
Without advancement in technology, the pace of development is reckoned as a dream. Besides, newly adoption of it makes products more better & valuable. It's technology today that determines to a larges extent what products & services will be produced, what equipment will be used & how business will be conducted. It's a part pf strategic planning in which it's decided what sort of technology should be implemented in the existing environment to get & earn ideal profitability.

Political Development:
No doubt about it, the policies which have been laid down & implemented by the government institutions like Security Exchange Commission of Pakistan has a significant influence over the organizational strategies. However, every ruling political party has it own manifestation to run the campaign, & introducing new clauses in the corporate law & sector to achieve their vision, some times these are proved beneficent, some times malevolent before the organizational goal attainment, therefore while designing a strategic planning, top management has to consider about its foreseeable effects over the business during the course of framing the work.

Globalization:

In this modern age the world has been supposed as global village because it's interlinked, dissolving the business frontiers & shrinking the distance. Epoch making ideas & knowledge is at our doorsteps; this process of internationalism has brought enough market for bringing the wealth to competitive nations. Nevertheless, one can not over look it while designing a strategy for the stakeholders.

Nature & Intensity of competition:

With emergence of globalization the nature & intensity of competition has also been changed. Only the best quality & economical prices will dominate the centre. The products & services must be brought in innovative forms at all phases to meet the demand of such changing environment.

Abilities & weakness of the workforce:

Today it's a norm to update the weak workforce's ability by providing them latest knowledge & the use of modern technology as it is possible to compete in the post modern markets. In a continuous changing environment it's a segment of strategic planning to train & groom the workforce to meet the future challenges.

Shortening Product Life Cycle:

The rapid pace of advance technology has reduced the complaint of snail pace working in the organization. In short any thing that is not useful for the business if in favorable or unfavorable manner fall under the ambit of changing environment.

Importance of Strategic Planning:

In this world where swift changes are taking place in no time, a thousand of opportunities & pitfalls are passing by every moment. At this very micro second one is watching every thing is being happened in the world due to advanced technology; it's a way that changes whole scenario of the business, it has become a dire need for the organizations & related communities to establish their goals in changing environment & at the same maintain their competitive advantage. The prime objective of strategic planning is to help us, it assumes that an organization must be responsive to a dynamic effect, & helps to response successively during the course of change in environment. It denotes to make a time management system to attain the goal on the time for breakthrough to compete the rivals.

Benefits of Strategic Planning in changing Environment:

Focus is Placed on more critical things:

Strategic planning helps us to highlight the important areas & in allocation of resources to those area which have potential of providing maximum advantage.

Provide Awareness of Changing Environment:

It contains a deep analysis of the change in environment & indicates with anticipation the future trends & inclination. In other words it recognizes the expected impacts over the entity & vindicates the intended direction to steer out.

Awareness about Companies Strength & Weakness:
This step of the strategy helps organization to over come its weakness by identifying certain reasons.

Goal Setting:
It's an other step of strategic planning where goals are to be set along with direction to get there. It also provide the ways to survive from wreak havoc in the today's changing environment.

Provide Infrastructure to satisfy the demand

Maintain cost & quality competitiveness.

Identify & eradicates poor functioning areas.

Provides a culture of understanding & Security.

Certain Things are to be reckoned while making planning to cope with environmental change.

1) Ensure SWOT analysis is complete in all disciplines.

2) Ensure that strategies are in real terms & attainable for the entity.

3) Ensure that whether strategy is planned at intended level in the changing environment.

4) Ensure that resources & abilities are not over estimated.

5) Ensure financial requirements & infrastructure needs are not under stated.

6) Whether it will communicate all concerned persons while in confusion.

7) Only formulating is not enough unless it's implemented.

Conclusion.

Being a competitive entity today is uttered most important for achieving the desirable goals in the changing environment. One have to strategically plan every move considering the opportunities & threats in the light of one's own strength & weaknesses. With desirable combination of diagnostic as well as anticipatory nature of strategic planning can be prepared before proceeding for getting potential opportunities emerging due to changing environments & can easily emerge as leader & trendsetter in one's industry with substantial competitive advantage & attractive market share. In simple words if you want to cope with changing environment then don't be reactive be proactive with strategic planning & proved as overwhelmed over the global market.
Reply With Quote
The Following User Says Thank You to adib For This Useful Post:
Kingofthekings (Wednesday, April 01, 2009)
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Overview Of The Economy free thinker Pakistan Affairs 6 3 Weeks Ago 11:26 AM
Environmental Issues of pakistan samreen Essays 10 Friday, October 20, 2006 11:16 PM
Story Of Pakistan lonely capricorn Pakistan Affairs 2 Wednesday, June 07, 2006 05:37 PM


CSS Forum on Facebook Follow CSS Forum on Twitter

Disclaimer: All messages made available as part of this discussion group (including any bulletin boards and chat rooms) and any opinions, advice, statements or other information contained in any messages posted or transmitted by any third party are the responsibility of the author of that message and not of CSSForum.com.pk (unless CSSForum.com.pk is specifically identified as the author of the message). The fact that a particular message is posted on or transmitted using this web site does not mean that CSSForum has endorsed that message in any way or verified the accuracy, completeness or usefulness of any message. We encourage visitors to the forum to report any objectionable message in site feedback. This forum is not monitored 24/7.

Sponsors: ArgusVision   vBulletin, Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.