Challenges And Challenges Of Developing Business Strategies Essay

Challenges And Challenges Of Developing Business Strategies Essay

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operate is constantly changing. Leaders must realize that what will successfully establish competitive advantage under one set of circumstances, will not sustain that advantage under a different set. The products that satisfy customer needs today will not necessarily satisfy them tomorrow. As demonstrated by the innumerable cases within our text, if an organization cannot maintain a level of agility and be willing to change when needed, they will ultimately become antiquated and be surpassed by those organizations that are.
Social Responsibility
Organizations have a number of standards by which they must abide. While there are numerous state and federal statutes that govern business operations, these are neither the only obligations placed upon organizations nor the preeminent standards. It is the duty and responsibility of organizations to operate in legally defensible and ethical manner that takes into consideration how their business strategies influence “societal well-being and benefit” (Steel, 2011). In learning about potential ethical issues in strategy implementation, I came to appreciate that developing business strategies requires more than an understanding the desired objectives and financial implications of those strategies. Leaders must develop strategies that recognize and respect the rights of stakeholders, which if implemented properly, will subsequently lead to profitability and profit growth (Hill, et al., 2014, p. 381). However, societal responsibility also has internal implications for organizations, which again reflect the interdependent nature of the Baldridge Core Values. Part of being socially responsible is, as mentioned previously, operating in an ethical manner. Yet, an organization cannot simply put i...

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...e Values. While our readings and discussions did not necessarily address specific Core Values, these topics were an extension of the values that make for a quality organization. In learning about the elements of strategy formulation, I gained a better understanding of how the Core Values are actually represented in the business environment. Furthermore, I gained a more comprehensive appreciation of the interconnectivity of these values. In order to successful achieve one value, an organization must effectively achieve others. It is when these values are integrated across the board that an organization can truly achieve its vision. I believe that after this course, as well as the rest of my degree work, I will be able to enter any organization with the knowledge I need to be successful, and in conjunction with my job-specific training, become the asset I aspire to be.

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