CHECK THESE SAMPLES OF Business Plnning to Cope with Turbulent Environment
From the broadest perspective, the organizational environment comprises all of the things that are outside of the organization.... 40, provides a more comprehensible definition of organizational environment as 'all elements that exist outside the boundary of the organization and have the potential to affect all or part of the organization.... In this regard, the environment of an organization is thus selected and interpreted by the managers in an organization....
12 Pages
(3000 words)
Research Paper
Otherwise, "There is no reason for pessimism," declared Jeroen van der Veer, chief executive of Royal Dutch Shell (environment News Service 2006).... A Dutch managing director claimed that 'long-range planning is nowadays seen as an academic exercise' given that the times are uncertain and the environment turbulent.... In the World Economic Forum 2006, it was mentioned that the times are turbulent and uncertain.... The World Economic Forum usually held in Davos, Switzerland, is an annual meeting of top business and political leaders to discuss the major social and economic concerns around the globe ("World Economic Forum" 2006)....
11 Pages
(2750 words)
Term Paper
It is important for companies to take consideration on the current economic climate and its challenging competitive environment in choosing either of it.... t is notable that the current economic climate in most countries in the world is very much turbulent.... Prescriptive strategies are relevant and effective as emergent strategies....
9 Pages
(2250 words)
Essay
The environment in which a person grows up, as well as the family they are raised in, are other important factors, which shape and develop an individual's set of values.... Such an approach requires team members to work together when operating in unpredictable business environments.... Organizational change has become an evident practice as business environments focus more on achieving their goals and objectives by applying strategies that can enable them to do so effectively....
7 Pages
(1750 words)
Essay
When operating in a highly uncertain environment, organizations will need flexible plans that help its performance.... However, despite the longevity of this approach, formal planning is criticised in today's society with a fast paced environment.... People may have to struggle to follow a plan that is not applicable to the customer's needs or the environment....
4 Pages
(1000 words)
Essay
In the prescriptive approach, 'strategy is formulated and chosen by thorough and detailed analysis of the external environment and internal capabilities using various tools and techniques, such as the Boston Consulting Group's (BCG's) share/growth matrix and Porter's value chain and five forces' (Partridge & Sinclair-Hunt, n.... As had been previously observed, the prescriptive approach lacks flexibility and hence rigid planning within a dynamic business environment that is additionally characterized by economic turbulence may prove to be unproductive....
11 Pages
(2750 words)
Dissertation
It is the rational way of strategic management Rational and long term plans are considered to enhance the organizational performance and to cope with the external environment.... It means that when the situation in the market or business is normal and not changing significantly, that time this approach is really an ideal option....
12 Pages
(3000 words)
Dissertation
Globalization has opened up the world to a much uncertain and dynamic environment.... business conglomerates embraced and adopted it as one of the best ways to plan and execute strategies that would enhance corporate business competitiveness.... This formal approach was convincingly deemed fit for business in the 50s and 60s.... The technological era from nine the ties and globalization has changed business operation, and the scenario is so unique compared to the early 1950s....
8 Pages
(2000 words)
Essay