The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes and helps to understand, anticipate, evaluate and analyze changes to identify the drivers of change…
The intention of this study is the change management that has increasingly become key element of competitive advantage for the business organizations in the current environment of volatility and rapidly transforming socio-economic and political imperatives. The need to identify the drivers of change and incorporating the same within the business strategies by organizational leadership has become top priority for mot only to succeed but also to survive. The five authors discussed in the paper believe that changes are good for the firms and firms which have flexible approach are better able to absorb changes and surge ahead of others. In the highly competitive market, firms need to leverage their competencies for competitive advantage. The various modules and mechanisms of evaluating and analyzing the performance metrics become highly critical factors for success of the firm. The internal and external exigencies influence the performance of the firms and therefore need to be analyzed, evaluated and exploited for gaining leverage against their rivals in the industry. Indeed, the firms survive or fail in the competitive market mainly because they either unable to anticipate changes in the environment or failed to exploit the opportunities that were offered by the changes to survive and gain competitive edge. The visionary outlook of the leadership and the innovative approach of the firms are vital inputs that facilitate and create opportunities to maintain their niche market position. The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes....
The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes. Section 1 What is change and how companies cope with changes Change is inevitable and irreversible process that provokes reaction and forces people out of their comfort zone. Most importantly, impact of change becomes most visible when it is viewed adversely. Bateman and Zaithaml (1990) stress that organizations need to change because the environment within which they operate is constantly changing. The organizational leadership therefore becomes the vital ingredient that prepares and motivates people to become flexible. It not only helps them to adopt changes but also to look for opportunities in contextual changes which can be exploited for improving their productivity and outcome. As the following authors assert, changes become enabling factors when they are explored for opportunities. Indeed, the authors have different perspective on change and change management. Change management has become a critical issue for firms. They emphasize that it helps them to understand, anticipate, evaluate and analyze changes to identify the drivers of change and explore opportunities for exploiting them. They believe that changes are good for the firms and firms which have flexible approach are better able to absorb changes and surge ahead of others. Some of the mechanisms that are evolved to cope with changes are: fostering business alliances; using technology; thinking out of the box; being innovative through new development and R&D; creating learning environment; exploiting human ...
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(How Firms Gain Competitive Advantage in the Changing Business Dynamics Essay)
“How Firms Gain Competitive Advantage in the Changing Business Dynamics Essay”, n.d. https://studentshare.net/management/1834-change.
The main objective of this research is to explore various literatures that are focused upon product develop and product innovation through research and development and technological innovation within a company; to identify how research and development and product innovation can help the firm build competitive benefit.
In the present day and age, it is even more difficult to find sources of sustainable competitive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities.
It has been observed that every company or business desires to expand worldwide and operate globally. It is also known as the process of interchanging the views, products as well as cultures in the global periphery. The barriers for international business have been witnessed to have reduced significantly in the recent years.
The present study analyzes how companies use the global strategy to gain competitive advantage. Also the essential success factors of firms to succeed in the international business have been discussed. Add to that it has also been discussed that how companies can fail in the international market due to lack of planning and vision.
to hire firms with their own core competencies to perform other tasks that are required as a part of organizational activity.(Prahalad and Hamel, 1990). Thus, in order to sustain a competitive advantage in the global marketplace, many organizations are focusing on knowledge
vement of the firm’s position in the global market but also with the ability of the firm to survive under severe pressures – like in the case of current financial crisis. Information systems are commonly used as a tool for the achievement of the above targets (Yolles, 2009,
tive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities. However, firms must still plan to try to improve while operating in a global mosaic that offers a plethora