Outlook For The Future. Business & Marketing Essay
Before writing, think about some of the key attributing variables that are causing managers roles to change. BE cognizant of two factors. First, that the business environment is in constant change and new circumstances will require new strategies and new approaches to implementing those strategies. Second, that strategic management is a young subject that is still in its early stages of development. Finding solutions to familiar and new business problems will require openness to new ideas, new concepts, and new approaches to strategy formulation and implementation.
Now, in your discussion question address the following questions:
What will be the key developments in the global environment of business during the next five years?
On the basis of these, what will be the greatest challenges that firms from the advanced industrialized countries will face?
What strategies will firms need to adopt in order to prosper in the environment you foresee?
What are the implications for these developments for firms’ organizational structures, management systems, and leadership styles?
Outlook for The Future
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There will be much technological advancement in the global business environment in the next five years. Given the current technological changes, then managers will be required to change their ways of strategic management in order to fit in such an environment. There are chances that computers will run most of the managerial roles.
Firms from the advanced industrialized countries will face the risk of being hacked into and losing important data. The technology will enable organizations to computerize almost all the activities in the different departments. Therefore, if proper security measures have not been implemented, the firms can be hacked into, leading to huge losses.
Firms will need to strategize on how to protect their information from hackers to ensure that they do not suffer losses. Therefore, this means tha...