paper
Impacts of rapid, volatile and discontinuous change on the strategy management of organizations
Overview
This paper focuses on the implications on the strategy management within an organizations exerted by the rapid, volatile and discontinuous change occur in external environment. CEOs are the most dominant part in a business that has the power to cope with the changing outside environment by adjusting their management strategies. Only those who can make timely adjustment in their business strategies can better survive in the modern business world.
1. Introduction
Last decades have experienced a dramatic change in global environment, with a bunch of changes happening in political, social, environmental, economic and technological fields around the world. All these transformation have posed threat to the operation and even survival of individual business. For example, there is a growing competition in the electronic products industry, especially the mobile phone industry, with Apple standing on the top level, competing with other mobile phone designers such as Samsung. The previous dominant business in this area must update their management strategy and products to keep sharing a delightful market profit in the current fast-paced global environment. CEOs who should the responsibility to maintain organization’s profit and maximize shareholders’ wealth are required urgently to modify their current strategies in face of the increasingly fierce competition in the business world (Doy 2005). There are a few models that can be employed to evaluate the implications on organizations imposed by the rapid, volatile and discontinuous change in the external environment. In front of the dramatic global environment, a great number of managers have adjusted their running strategies to make better survival and facilitate company’s competitive edge. Nevertheless, some managers failed to make timely and efficient change when confronted with the volatile outside environment.
Overview
This paper focuses on the implications on the strategy management within an organizations exerted by the rapid, volatile and discontinuous change occur in external environment. CEOs are the most dominant part in a business that has the power to cope with the changing outside environment by adjusting their management strategies. Only those who can make timely adjustment in their business strategies can better survive in the modern business world.
1. Introduction
Last decades have experienced a dramatic change in global environment, with a bunch of changes happening in political, social, environmental, economic and technological fields around the world. All these transformation have posed threat to the operation and even survival of individual business. For example, there is a growing competition in the electronic products industry, especially the mobile phone industry, with Apple standing on the top level, competing with other mobile phone designers such as Samsung. The previous dominant business in this area must update their management strategy and products to keep sharing a delightful market profit in the current fast-paced global environment. CEOs who should the responsibility to maintain organization’s profit and maximize shareholders’ wealth are required urgently to modify their current strategies in face of the increasingly fierce competition in the business world (Doy 2005). There are a few models that can be employed to evaluate the implications on organizations imposed by the rapid, volatile and discontinuous change in the external environment. In front of the dramatic global environment, a great number of managers have adjusted their running strategies to make better survival and facilitate company’s competitive edge. Nevertheless, some managers failed to make timely and efficient change when confronted with the volatile outside environment.
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