What strategies can be employed to ensure that goals remain relevant and adaptable in a dynamic business environment?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
icon
Related questions
Question

What strategies can be employed to ensure that goals remain relevant and adaptable in a dynamic business environment?

 

Expert Solution
Step 1: Introducing dynamic business environment:
  • In the dynamic business environment, change is the only constant. This ever-shifting scene is characterized by quick innovative headways, advancing shopper inclinations, competitive market forces, and worldwide economic variances.
  • In such an environment, businesses must remain agile and versatile to outlive and flourish. They face the challenge of not only expecting and responding to these dynamic forces but also proactively looking for opportunities in the midst of the turbulence.
  • Success within the dynamic business environment requires vital vision, ceaseless advancement, and the capacity to rapidly turn and alter strategies to remain important and competitive in an ever-changing commercial center.
steps

Step by step

Solved in 4 steps

Blurred answer
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON