Summary of the book Thinking Strategically in Turbulent times

Summary of the book Thinking Strategically in Turbulent times The rapid changes in technology have affected the way businesses and organizations operate. Fields such as nanotechnology, computing, communication, biotechnology and genetic engineering are the most affected. There is a lot of competition due to advances in technology.Advertising We will write a custom essay sample on Summary of the book â€Å"Thinking Strategically in Turbulent times† specifically for you for only $16.05 $11/page Learn More Therefore, managers have been compelled to adjust accordingly in order to cope with the prevailing challenges. In some cases, other businesses are forced to redesign the operations and business processes of their organizations. According to Glassman, Zell and Duron (2005), this gives them a competitive position to respond to the changes in environments that surround the organizations. For this reason, there is dire need for managers to change the way knowledge and information is managed as well as to reinvent str ategically in order to ensure a competitive edge in the long run. The technology that existed some years back is now obsolete and no longer functional. This implies that the advances that are being made in technology will continue to affect the operations of businesses even in the future. For businesses to remain competitive, there are factors that need to be considered especially in the top management levels. These are innovation, competition in the market and the regulation of laws that govern such organizations. All these moves will go a long way in ensuring that businesses and the entire world are politically, socially and economically stable. In view of changing technologies in the market, it is obvious that there are winners and losers. The difference is brought about by the way businesses respond to changes in technology. For instance, most organizations lack contingency plans to cater for such emergencies. When changes in technology are likely to shake the foundation of a bu siness, it is advisable to allocate some funds that can cater for the changes. It is vital to noted that technology is not a cheap aspect to cater for since it has always been an expensive undertaking. The research and design department should work tirelessly in the organizations to make sure that the management allocates enough funds for this purpose. When recruiting staff members, it is vital for managers to strike a balance between technology related expertise and employees who do not require training (Glassman, Zell Duron, 2005). Training in an organization should be emphasized so that the organization’s staff members become conversant with the technology that runs the business. As the organization progresses with time, rules and regulations should be changed regularly. Moreover, managers should be innovative and reuse materials through recycling so that the costs of transformation are reduced to the most minimal level.Advertising Looking for essay on business e conomics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Other organizations that are in quest to satisfy the needs of technological change have centralized the use of technology. According to Aulet (2009), this has encouraged sharing of expensive tools and equipment that are placed in central offices to ensure that less resources are bought in the organization. Use of networks has also assisted in making sure that the shared resources are well managed. The latter enables users to work from a remote location. For instance, the use of networks will help departments share resources such as printers and expensive servers. The network should be made as complex as possible for purpose of security. It should ensure that hackers and other criminals do not take advantage of vulnerabilities of the system. Human behavior affects the manner in which businesses perform. The management should therefore make sound decisions on human resource so that hum an errors are reduced to the lowest possible levels. Human error is a major reason for failure in businesses. Shapiro (2013) explains that conflict management is prudent. Misundertandings and conflicts are common among staff members of any organization. Resistance to change is also likely to occur among the employees. It is upon the managers to communicate change in the right way in order to reduce chances of conflicts related to resistance to change. Fair remuneration helps reduce cases of conflict between employees and the employer. Motivation should be encourages as well. This ensures that staff turnover is minimal and also reduces costs of recruitment and training of new members of staff. Staff experience is treated as an asset. Fair punishment should be done for all members of staff without bias or discrimination. Businesses have changed from the traditional ways of strategy formulation. Strategies no longer fall under mission statements and goals. Today’s technology has affected the way strategy formulation is addressed. It is only those businesses that make short term strategies that have competitive edge in the global economy. The external and internal entities and stake holders of businesses have changed their processes thereby forcing the businesses to change toward the same direction. Managers should ensure that any form of technology that is in place is as simple as possible. Less complicated technology is easy to manage and analyze. The analysis done goes long way in ensuring that forecasting is executed perfectly. During this process, all vulnerabilities and loopholes are closed and the business operates at low risks. There are several forces (both external and internal) that affect the operation of businesses.Advertising We will write a custom essay sample on Summary of the book â€Å"Thinking Strategically in Turbulent times† specifically for you for only $16.05 $11/page Learn More Moreover, a business en vironment is considered to be turbulent when several aspects of organizational change occur at the same time. Managers have different views on the effects of these forces. When the analysis and consultations are done in the right manner, business managers will be at vantage positions to control the set strategies and turbulent times in the business. References Aulet, K. W. (2009). Business Planning Principles and Applications. Retrieved from http://dig.csail.mit.edu/2010/LinkedData/Presentations/BusinessPlanning.pdf Glassman, M. A., Zell, D. Duron, S. (2005). Thinking strategically in turbulent times: an inside view of strategy making. London: M.E Sharpe. Shapiro, J. (2013). Strategic Planning. 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