The Strategic Path of an Enterprise - Essay Example

Strategic plans are developed to accomplish the long term objectives of a company (Kotler, 2003). Whenever a company faces financial struggles the strategic plans of a company should be modified to adapt to the financial crisis the company faces. If the firm has a lot of inventory a way to improve the cash flow of the firm is by liquidating merchandise. The problem with this strategy is that it hurts the profitability of the company. The strategy of a firm can be redirected in order to adapt to a market change that affects the industry as a whole.

Back in 2001 in the aftermath of the 9/11 terrorist attacks, the airline industry was forced to change its securities protocols to increase the safety of its services. “The attacks forced the airline industry to renew and strengthen their focus on security” (Boston, 2013). Many firms in other industries have altered their environmental behavior to comply with the expectations of green-conscious customers.