The changes in energy, environmental and resource policies within the business market today needs better long term strategies
Business
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Business
The changes in energy, environmental and resource policies within the business market today needs better long term strategies for the business. In today’s business environment, there are many unexpected uncertainties. For the past four decades, the business sector has experienced the rise of economies and outburst of information Technologies globally, and at the moment, we are at the frontline of the revolution in biotechnology.
It is expected that; the population will expand globally; the pressure on scarcity of resources will increase; social disturbance; and increase in other global environmental issues. It is a challenge to all the business managers to position the companies in readiness to face these changes.
The main focus of dealing with the current and future situation is strategic planning. Businesses should try and perceive the future, and make an effort of shaping itself to match the needs of their employees, shareholders and customers. There are issues that are emerging within the business market, and they have some effects on them. Therefore, businesses should be ready with methods of dealing with these issues.
It is expected that spending on resources will continue as the recession also continues. Companies are trying carefully to allocate their resources, track their customers, and remain positive about the opportunities in the market in order to survive through the crisis. There are several strategies to employ in a company to help it survive and prosper in the current economy. The first strategy is companies should take keen look at its budget and revenue to ensure they are still significant. With the crisis, companies are facing high levels of uncertainty and targets set a month ago may be relevant.
The second strategy is about the products. It is critical to review all your strategies for product development and plans of releasing new features of the products. The projections should be in line with the revenue and the economy. Reducing the product enhancements may be an option in a tough economy.
The third strategy is on employees. When hiring, companies should evaluate their costs and revenues on hiring new employees. It is also essential to ensure that, the company has the right people assigned to critical tasks in potential areas. Checking the structure of employees can help in ensuring smooth of operations within the business.
The marketing strategy must be evaluated to ensure the potential clients are targeted. The go to market strategy are highly critical. It is through this that the companies’ perception in the market is good or poor. After acquiring the clients, it is crucial to retain these clients. Companies can encourage their sales team to be in touch with clients and understand their limitations and main concerns.
It is also necessary to be aware that whether it is tough and favorable economy, competitors are there. Therefore, the company should select opportunities that will help them exploit the competitor’s weaknesses. These opportunities can help the company be productive and grow rapidly as the economy gets better. It is essential to remember that a tough or pleasant economy will not last forever. Therefore, companies should position themselves strategically in the current situation, and lay the foundation for the company’s future success.
Work Cited
Mandel, Michael. After the Crisis Part I. 19 May 2011 <http://www.businessweek.com/the_thread/economicsunbound/archives/2009/01/after_the_crisi.html>.
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