Critical Issues in Business: Strategic Development in the Age of Uncertainty

Critical
Issues in
Business

Critical Issues in Business 1
Table of Contents
Introduction...........................................................................................................................................2
Literature Review..................................................................................................................................2
Conclusion.............................................................................................................................................3
References.............................................................................................................................................4

Critical Issues in Business 2
Introduction
In the age of uncertainty strategic development of organisations is important as it sets
up long term goal for an organisation. The objective of an organisation is analysed and all the
barriers that are faced by expanding the product is analysed. The goal of company and path of
success is planned by conducting a market research and competitive analysis of all the target
audience. In addition, it is important to know about the competitor’s strategies and plans, as it
helps organisation to build up leadership for the organisation. Thus report is a complete
research about the critical issues that are faced by organisations and the strategic
development of organisations in the age of uncertainty. To deal with such uncertainties
strategic planning in an organization is carried out for management of all the activities. It is
used to set priorities and focus upon all the resources, operations and also ensures
that employees and other stakeholders are working toward common objectives. So that
outcome due to changing environment is not affected on the organisation. It is a disciplined
effort that is taken by companies to undertake fundamental decisions and actions. Effective
strategic planning articulates not only where an organization is going and the actions needed
to make progress, but also how it will know if it is successful.
Literature Review
According to (Massa, Tucci and Afuah, 2017), there are different issues looked by
association in the period of vulnerability in this manner vital improvement is required. The
size of vulnerability in introduce time is expanding as it causes trouble in deciding. The scale
of uncertainty in present time is increasing as it causes difficulty in making decisions. The
challenges are faced by business due to different social, political as well as economic
environment. The uncertainties that are faced by organisations are industrial democracy;

Critical Issues in Business 3
change in exchange rates, government rules and regulations, change in technology, pollution
regulation issues, cost of energy and available raw materials (Waddell, et. al, 2016). The
uncertainty affects the growth of an organisation, it not only impact the private sector but also
have a negative effect on financial industries. Thus to resolve these business issues
organisation should undertake a proper business model so that sustainable goals could be
achieved. The main issue that are faced in an organisation for strategic development is
dealing with the changes. It is important to cope up with the changes that could be done by
developing strategies and new advanced technology. To succeed in new environment
strategies need to be pulled up in terms of innovation and talent. Organisational change is
common and various uncertainties are faced in internal and external environment (Alkhazim,
et. al, 2015). A new leadership strategy is needed to shape the system of an organisation.
Thus a set of priorities and capabilities need to be expanded by the business and focus more
on the changes. Thus business undertakes steps for development by observing and
understanding the current situation and then mapping out the relations for all the threats and
opportunities (Alkhazim, et. al, 2015). The next step after observing the situation is making
sure that all the young employees learn about new activities and technology so that
curriculum of changes could be maintained.
In the views of (Avgerou and Walsham, 2017), in the uncertain world it is important
to plan and implement some strategies for organisational changes. Adaptable procedures are
created as it develops capacities that could be effortlessly adjusted. The issues look because
of vulnerability influence the advancement of an association. In this manner different
difficulties that is looked by the organization because of inadequate pioneers and need of
accomplices to accomplish the objective. (Teece, Peteraf and Leih, 2016). Thus strategic
development of an organisation is implemented by strengthening the core internal strategies
like accounting, HR, communications as well as finance department of an organisation. Long