Strategic Management
EXECUTIVE SUMMARY
The essay provides a brief introduction to rapid, volatile and discontinuous change. It will elaborate that how these changes influence the organizational strategic management process and also incorporates some dissension related to it, which includes strategic analysis, strategic implementation and strategic evaluation.
The top-managers in company should inspect the external environment to know their opportunities and threats. Any change that occurs in external environment will affect the strategy selected. Hence, it is important for an organization to use vigorous strategies to conquer these changes.
INTRODUCTION
The report describes the concept of rapid, volatile and discontinuous change in the strategic management and the impact of external environment on strategic management process. Firstly, the report will provide conceptual knowledge of the external environment and all the three changes and their characteristics. Furthermore, PESTEL model is used to interrogate the external analysis and Porter’s 5 fo rces model with an additional government force is used to analyze its impact on strategic management. The change is inevitable whether it is rapid, volatile or discontinuous and the top-level managers have to adopt several measures to face them. They should set some dynamic strategies in order to change their mission when these changes occur in environment. It is CEO’s responsibility to prepare some plan of action against discontinuous change and there are many evidences for CEO’s, who are not well appreciated in facing such changes.
DRIVING FORCES OF CHANGE:-
The change in the business environment is inevitable. Change can be a rapid change which occurs frequently such as technological change, or a volatile change that can be small or massive, or a discontinuous change which can occur anytime, anyhow or anywhere or is quite unpredicted (Handy, 1990). There are several forces that drive these changes to occur in the business
The essay provides a brief introduction to rapid, volatile and discontinuous change. It will elaborate that how these changes influence the organizational strategic management process and also incorporates some dissension related to it, which includes strategic analysis, strategic implementation and strategic evaluation.
The top-managers in company should inspect the external environment to know their opportunities and threats. Any change that occurs in external environment will affect the strategy selected. Hence, it is important for an organization to use vigorous strategies to conquer these changes.
INTRODUCTION
The report describes the concept of rapid, volatile and discontinuous change in the strategic management and the impact of external environment on strategic management process. Firstly, the report will provide conceptual knowledge of the external environment and all the three changes and their characteristics. Furthermore, PESTEL model is used to interrogate the external analysis and Porter’s 5 fo rces model with an additional government force is used to analyze its impact on strategic management. The change is inevitable whether it is rapid, volatile or discontinuous and the top-level managers have to adopt several measures to face them. They should set some dynamic strategies in order to change their mission when these changes occur in environment. It is CEO’s responsibility to prepare some plan of action against discontinuous change and there are many evidences for CEO’s, who are not well appreciated in facing such changes.
DRIVING FORCES OF CHANGE:-
The change in the business environment is inevitable. Change can be a rapid change which occurs frequently such as technological change, or a volatile change that can be small or massive, or a discontinuous change which can occur anytime, anyhow or anywhere or is quite unpredicted (Handy, 1990). There are several forces that drive these changes to occur in the business