Strategic planning in response to resources in business
Added on 2021-05-31
6 Pages1530 Words237 Views
Leadership Management
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Strategic planning in response to resources in business One of the major factors to consider for a business to succeed is strategic planning of factors including allocation and acquisition of resources. This ensures that employees and other stake holders are working towards a common goal.(Wiepking & Maas, 2009)Environmental analysis Environmental analysis includes internal and external and they both have an impact in conducting business and hence determining its performance (Khan, 2016).These factors include political, economical, social, government policies, unemployment rate and distribution of wealth, geographic allocation, among others. Environmental analysis is done by first understanding the what will be needed, identifying opportunities for the business in that particular area, finding out the dangers in that field, then finally is proceeding to do all that findings. The strategy is explained in the SWOTT table below.StrengthWeaknessOpportunityThreatTrendTechnologyUse of mobile phonesfor communicationdespite the distancebetween employer andemployees.Dependant on electricitypowerThe digital world isadvancing each day forexample innovation ofartificial intelligence wheremachines are used to engagecustomers.If not well encryptedinformation can be hackedInvention of machines that arehuman-centric meaning theywork just like human beingsGlobalBusinesses can beestablished evenDistant businesses arehard to manageEnsuring water supply inareas that have no water likeSupply chain disruption whereby there is no smooth As population increase, itdominates the market which
overseas since there iseffective communicationfor example videoconferencing hence noneed to travelcompared to businessconducted under onepremisesarid regions. Selling distilledwater in such places whileplaces where agriculture ispracticed, new technologiessuch as introducing drip waterirrigation is ideal.flow of goods from producers to consumers this may be caused by poor transport facilities that is poor infrastructurein turn increase consumptionof goods and servicesEnvironmentalIn areas where theenvironment isconducive for examplehumidity, enough rains,agriculture can bepracticed and this notonly create employmentbut also improves theliving standards ofpeople enabling them tolive better lives sincethey can afford to buythings they needIn arid and semi aridareas where there isn’tmuch water supply, andthe weather is usuallysunny may discourageagriculturePeople should be soldcontraceptives that lead todesire of a small family sizeand encourage familyplanning.Population increase leads tomuch consumption of energyand material that in neededfor more other people this is agreat threat to sustaining thehuman raceProtecting the environment byplanting trees whenever theyare cut down this calls fornurturing different treespecies to be sold so thatpeople can be educated onhow to plant themCultureA different people havedifferent taste in social,economic, religiousissues. And when theyare involved, theyFailure to adapt to acommunities culturewhich include languagebarriers making itdifficult forAfter identifying and learninga particular culture, it’s onlywise to give them what theywant in terms of goods andservices.Some communities have abelief in not consumingcertain products or servicesfor example Muslims don’teat pigs.Educating certaincommunities so that they canembrace change and convincethem to learning certaincivilized way of leaving. This
contribute to a growth ofa business communication.can be done may be bybuilding schools and higherinstitutions of learning.LeadershipIts mandatory forasuccessful business tohave a good leadershipand this can be achievedby leadership trainingand practicesArrogant leaders tend notto listen to theirsubordinate yet they arethe people that reallycount since they do theminor jobs andunderstand the peoplesneedMeasuring the right things in business like performance in every field. Leaders should ensure employees complete their tasks on time to avoid any unwanted inconveniencesPoor management is athreatin correspondence withbusiness leadership thisaffects employees negativelysince they will luck a pacesetter creating an environmentwith much chaosCreating leadership trainingwhere they can be taught howto handle their subordinateswill be ideal. Since there is noparticular protocol for one tofollow to be a leader but toserve Emerging forces and trends in economy include; unemployment level, inflation rate, fiscal policies and government changes, strengthening global demand. Legal and regulatory forces include taxation (Wiepking & Maas, 2009). Tax can support a business while other tax restricts other certain business operation. When taxes are raised, the prices of products increases therefore consumers tend to shy off from buying certain products this affects a business negatively since it reduces consumption by consumers and vice versa. An organization can only adapt to change if it accepts failure and looking forpossible solutions to curb that loop since it will be only for a while. (Lampert, 2016). Failure to do this isthe exact opposite meaning they accept failure by quitting, abandoning progress and actually just giving up whenever challenges emerge (Xuedon2016). When organizations fail to promote the sense of responsibility among its employees, this creates mistrustin fulfilling their particular work task. Workers then tend to lose their belief in that institution and they
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