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Adaptive Strategy and Business Sustainability - Essay Example

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Adaptive Strategy and Business Sustainability

The changes in the environmental conditions necessitate changes in the strategies made. The adaptability to the environment changes is essential for the stability of the operations. The environment or the environmental changes provide opportunities as well as pose threats. The opportunities and the threats are analyzed in relation to the strengths and weaknesses in the system and organization. The key features of the Burgelman’s 3 stage model deals with the adaptive strategies which are useful in understanding the process and dynamics associated with the strategic decision making in an increasingly fast paced business environments. The ANZ Banking Group Limited is a leading company in banking and financial service sector in Australia and New Zeeland. To lend focus to the study, we have considered all the recent major developments in the operations of the company in relation to application of the conceptual framework. The main arguments are related to application of technology in the business and expansion activities of the company which have direct impact on the growth. Based on the analysis and assessment, conclusion is arrived at as to how successful the organization has been in decision making by applying the conceptual frameworks associated with induced and autonomous strategy and other features of the model. Failure to adapt to the developments in the technological front in the initial stages has been rectified through strategic management decisions later. However, its expansion strategy is not in the right direction and needs to be reoriented. Based on the analysis, it is recommended that the expansion activities should not be restricted to a particular region by stating reasons for the proposal. The company’s expansion strategy focusing mainly on Asian countries needs to be revisited as it should be on global basis. Adaptive Strategy and Business Sustainability – A Report on Rational and Adaptive Strategy Table of Contents Introduction 3 Burgelman’s Strategy Dynamics Model 4 Economic environment 5 Technological innovations 7 Introduction of new products and services 9 Customer relationship Management 10 Political and Social environment 10 Human Resources Development 11 Stakeholders’ interest 12 Other factors 13 Leadership qualities 14 Culture of the organization 14 Corporate social responsibility 14 Adaptive strategies 15 Latest developments and growth 16 Managerial discretion 18 Internal control 19 Conclusion 19 Recommendations 20 References 22 Appendices Appendix – I 25 Introduction Strategic decision making is complex in nature and there are several environmental factors required to be taken into account in the formal decision making process. In the framework called as evolutionary organization theory, decision making towards adaptive strategy relevant to stakeholders, requires the conceptual understanding of the environmental changes that are continuously taking place. This enables the management to evolve conceptual framework incorporating autonomous initiatives and other relevant features for applying an appropriate model. Strategic planning in any setup is a dynamic process and it is susceptible to alterations or modifications in tune with the environmental factors which could be internal or external.   “While process research proliferated into a diverse field, its founding concern was to confront the rational actor model or choice perspective, with a more collective and socialized view of strategy making” (Schmid et al, 2010, p. 146) The strategies of adaptability for operations in tune with the changing conditions in the environment give stability to the enterprise. In this paper the application of strategy, ...Show more

Summary

Strategies in a business environment are formulated after carefully considering the various alternatives available in a situation and assessing the environment for the external factors and internal factors relating to the strategies under consideration…
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Adaptive Strategy and Business Sustainability essay example
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