We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Analyzing Modern Business Environment (Tom Peters) - Essay Example

Comments (0) Cite this document
Summary to essay on topic "Analyzing Modern Business Environment (Tom Peters)"
This paper examines the modern business environment as supposed by the renowned business guru, Tom Peters. It investigates the assertion by Peters to the effect that the modern business environment is very dynamic and fast changing, the fastest in the last 200 or so years…
Download full paper
Polish This Essay
Analyzing Modern Business Environment (Tom Peters)
Read TextPreview

Extract of essay "Analyzing Modern Business Environment (Tom Peters)"

Download file "Analyzing Modern Business Environment (Tom Peters)" to see previous pages... The paper goes ahead to give suggestions on how to improve the conventional approach to long-range planning. It also explores the possibility of adopting more qualitative methods like scenario prediction in answering the managers' criticism, providing the rationale behind these ideas. The paper specifically analyses the nature of long-range planning and how it affects the operational policies of an organisation.
Let us write or edit the essay on your topic "Analyzing Modern Business Environment (Tom Peters)" with a personal 20% discount.. Try it now
It also appreciates the limitations of adopting the long-range approach to planning.
Long-range planning is very important for the future of any organisation. Its principal tasks include understanding of the environment, defining the goals of the organisation, identifying the organisation's options, making and implementing decisions and evaluating actual performance (Collins and Porras, 1994). Long-range planning is therefore aimed at exploiting tomorrow's different and new opportunities.
The traditional long-range planning has its basis on the concept of the four essential steps to planning. These steps include monitoring, forecasting, setting of goals and implementation of these goals. Long range planning is meant to help an organisation establish where it is currently, where it is going, where it wants to go, and what it has to do in order to change and head to its desired destination.
The cycle of long-range planning starts by the monitoring of an organisation's selected trends. Then the process of forecasting of these trends' expected future follows. This is done by extrapolating past data by use of regression analysis or any such technique. The organisation's desired future is then defined by setting its goals in line with the expected future.

The development and implementation of specific actions and policies with regard to long-range planning is aimed at reducing any disparity that may exist between the desired future and the expected future. The final phase is that of monitoring the effect of the policies and actions on the chosen trends.

The nature of strategic planning and its impact on operational policies
Strategic planning refers to the process of defining an organisation's direction or strategy and deciding on resource allocation in the pursuit of this strategy, including people and capital. A variety of business analysis techniques are utilised in the strategic planning process, such as SWOT analysis, PEST analysis, STEER and EPISTEL analyses (Bradford and Duncan, 2000).

Strategic planning is therefore the process of formally considering the future course of an organisation (Kono, 1994). A typical strategic planning strategy is concerned with a number of issues such as what an organisation should do, for whom it should do it and how it should excel in its endeavours (Porter, 1996).

Business strategic planning is mainly concerned with how to beat competition or how to avoid it altogether (Bradford and Duncan, 2000). In a number of organisations, this is seen as a process to determine where an organisation goes in the next three to five years, even though some organisations extend their plan to up to twenty years.

For an organisation to determine where it goes, it must exactly know its current position. It is only when it knows its current position that it will be in a position to determine the position it wishes to get to and how to get to it. This then becomes the organisation's strategic plan (Lorenzen, 2006). It gives the general direction of the desired destination for any given organisation.

Strategic ...Download file "Analyzing Modern Business Environment (Tom Peters)" to see next pagesRead More
Cite this document "Analyzing Modern Business Environment (Tom Peters)"
  • APA
  • MLA
(“Analyzing Modern Business Environment (Tom Peters) Essay”, n.d.)
Analyzing Modern Business Environment (Tom Peters) Essay. Retrieved from https://studentshare.org/miscellaneous/1510360-analyzing-modern-business-environment-tom-peters
(Analyzing Modern Business Environment (Tom Peters) Essay)
Analyzing Modern Business Environment (Tom Peters) Essay. https://studentshare.org/miscellaneous/1510360-analyzing-modern-business-environment-tom-peters.
“Analyzing Modern Business Environment (Tom Peters) Essay”, n.d. https://studentshare.org/miscellaneous/1510360-analyzing-modern-business-environment-tom-peters.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC "Analyzing Modern Business Environment (Tom Peters)"
Business Environment
A business environment is therefore the internal and external factors that affect organizational operations and it is important in many ways. In conducting business, organizations have engaged in business markets especially in the contemporary society where businesses market their products to other businesses.
2 Pages(500 words)Essay
Analyzing the general environment/Macro-environment
The elements are beyond the control of the company but need to be identified because these items can impact the profitability of the firm. The goal of the macro-environment analysis is to discover potential opportunities and threats to the company. The company must determine how and why the macro-environmental elements have an effect on the company.
1 Pages(250 words)Essay
Modern Business
Evolution of industrialization in different countries was quite asymmetric and non-linear in nature. For example, industrialization in western countries was at full swing during first half of 20th century but concept of industrialization was unknown to many Asian countries during that time.
9 Pages(2250 words)Essay
Significance of Customer Portfolio Management in Modern Business Environment
Significance of Customer Portfolio Management in Modern Business Environment Introduction Today the business world is facing too many challenges when it comes to rapidly changing customer needs and new business practices. In the new business environment, organisations cannot run their business successfully unless they are well informed about the needs of their different customer groups.
10 Pages(2500 words)Essay
Modern business environment
However the concept of diversity goes beyond race, gender or disability and there is a marked emphasis on factors of personality and perspective. Therefore there should be an integration of diversity into training programs where awareness is created of prejudices arising from stereotypes.
10 Pages(2500 words)Essay
Cross-Cultural Enterprise Management
The dissertation aims to help in analyzing the significance of cross-cultural management and how it affects the behavior of the workforce and organizational success. An effort would be made to establish a framework for cross-culture management from the research study, followed by analysis of case studies, interviews, data collection and focus group with experienced managers.
16 Pages(4000 words)Essay
Tom Peters on Uncertainty
Peters was alerting the business community to the opportunities that exist in the rapidly changing business environment. The movement from bureaucracy to privatization, globalization, outsourcing, and the pace of technology all conspire to make the future unpredictable.
2 Pages(500 words)Essay
Analyzing Change - Business
Time has provided evidence that even previous elite and successful cities and nations who rose into domination also fell apart due to five interacting factors. Diamond named these factors as: the damage that people have inflicted on
3 Pages(750 words)Essay
Business Environment
With technological changes taking place and globalization impacting economies and companies, BP oil has experienced numerous challenges over its lifetime to-date. Yet again, the company which is mainly based in the United Kingdom has faced numerous
20 Pages(5000 words)Essay
Managers in the modern business environment
As a result, individuals in the management positions have to emulate strategies that are not always easily accepted by the workers. This paper seeks to discuss the challenges being faced by managers in the contemporary business
2 Pages(500 words)Coursework
Let us find you another Essay on topic Analyzing Modern Business Environment (Tom Peters) for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us