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Friday, December 9, 2022

Think Entrepreneurship: Organisational strategy

By Abosede Ajala

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Many organisations today face dynamic and changing environment that in turn requires the organisations to adapt or find a new way out. Change has become the norm in most organisations, whereby you see plant closing, business failing, merging and acquisitions, low patronage and downsizing have become common experiences for most organisations/industries/businesses.

Flexibility, responsiveness, ready to think fast and be able to give without expecting to be given back are terms used to describe organisations that will succeed in meeting the competitive challenges that business faced both internal and external. In the past, organisations could succeed by claiming excellence in one area, that is quality, reliability and cost, but this is not the case today.

The current business environment demands excellence in all areas, with quality, reliability and affordable cost/price plus been able to run certain promo, engage in giving away prices or giving free maintenance to any item purchased. All these open doors to unlimited patronages.

Organizational Strategy is so important and distinctive, different organisational strategies for different organisations.  Hence a decision must be reached to actually know the most appropriate or suitable to the particular organisation.

Remember we live in the midst of constant change, which has become a threadbare but relevant formula. Pressures for change are created both inside and outside the organisation, when it is discovered that it is no long smooth business as usual, the organisation/ business must forge ahead and push these forces aside to survive.

External Forces are there when the business’s general or task environment changes, the organisations’ success often rides on its ability and willingness to change as well. The modern Manager should understand this change-consciously and operate in other to accommodate the repetitively changing environment.

Many external changes bombard the modern organisations and make things hard on them but with the use of strategy/strategies most times bring succor and help them to regain stability. In recent years, far-reaching services for strategy have included developments in information technology, the globalization of competition, and demands that organisations take greater responsibility for their impact on the environment.

The technological innovation which is a major way to strategize in an organisation, and those who fail to keep pace can quickly fall behind. It is perhaps the greatest factor that organisations reckon with now.

For example, banks needs more customers, also to the producers of household consumables craved for more sales, to stay in the business you need lots and lots of strategies except if there no competitors in the business one is doing and doubt this.

Globalization of an organisation strategy means to have a rethinking on the most efficient ways to use resources, disseminate and gather information and develop people. It requires not only structural changes but also strategically changes in the minds of employees/consumers.

Therefore, successful organisations will be the ones that can change in response to the competition having adequate knowledge on what strategies that fit the business and its environment even on a new product to get rapid growth and getting into the market quickly.

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