Strategic Changes That Might Be Employed to Adjust to the Changes Taking Place In the Marketplace

Published: 2021-07-19 08:31:19
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Change in the business environment is inevitable and important when it comes to achieving progress. It is important for any organization to be alert when it comes to changes taking place in the marketplace (Dawson & Andriopoulos, 2014). The alertness makes it easier to incline with the changes and to ensure that a company remains at the top of its competition. In other words, companies have an obligation to remain at par with the changes taking place in their competitive environs and act immediately and adequately to the changes (Dawson & Andriopoulos, 2014). The analysis puts into view the strategic changes that might be employed to adjust to the changes taking place in the marketplace.

The highlighted business changes include the closure of the military base which is situated at the center of my district, the relocation of the headquarters of three technology firms to the location, and the announcement from a new competitor on plans to join the market. The changes imply that the company has to develop strategic plans to curb the competition and to align with the changing needs of the clients. As the District Manager some of the strategic actions that I perceive should be employed to prevent being affected by the changes include; responding to the competition with respect to the needs of the customers and changing trends, developing contingency plans that align with the highlighted changes, conducting a market analysis to analyze other changes that might occur in future, and adjusting the to the shift of the military base by aligning the goods and services with the current population.

On competition, comprehending the needs of the customers and responding faster to those needs than the competitors provides the company with an advantage in an environment where the competition is a great threat (Bridges & Bridges, 2017). For one to be competitive, one must put the focus of the business to the customers. Therefore, the strategic action to consider is analyzing the changing needs of the customers and aligning with the needs such that the threat imposed by competition is lessened. There is also need to comprehend the strengths and weaknesses of a competitor in addition to how the competitor will meet the need of the customers and the changes taking place in the market (Bridges & Bridges, 2017).

Changes occur when least expected which makes it important for an organization to have contingency plans to ensure that it is not caught off guard when a change occurs. Contingency plans act as backup plans when the strategic plan fails or results in outcomes which are below the goals and the expectations of a company (Kew & Stredwick, 2017). The plans also prepare for any change that might occur that might interfere with the goals of an organization (Kew & Stredwick, 2017).

A market analysis is necessary to foresee any change that might occur in future. It involves carrying out a SWOT analysis that assists in identifying the opportunities that a company might consider to adapt to the changes taking place in the marketplace from both short-term and long-term perspectives (Jones, 2010). The opportunity, in this case, are the tech companies by which the company can borrow ideas from them on issues such as advertising and improving its information and communication systems. It also assists in identifying the threats which make it easier to develop plans that protect the organization from potential threats (Jones, 2010). The potential threat, in this case, includes the new competitor who plans to join the market.

On adjusting the shift of the military base, there is need to align the goods and services with the current population. The shift implies the loss of a certain consumer market which means that considerations have to be put on the types of goods and services to provide to the current population. There is need to respond immediately to this change to prevent avoidable losses and adjust to the present consumer market.

As stated earlier, the analysis puts into view the strategic changes that might be employed to adjust to the changes taking place in the marketplace. Companies have an obligation to remain at par with the changes taking place in their competitive environs and act immediately and adequately to the changes. As the District Manager some of the strategic actions that I perceive should be employed to prevent being affected by the changes include; responding to the competition with respect to the needs of the customers and changing trends, developing contingency plans that align with the highlighted changes, conducting a market analysis to analyze other changes that might occur in future, and adjusting the to the shift of the military base by aligning the goods and services with the current population.

 

References

Bridges, W., & Bridges, S. (2017). Managing transitions: Making the most of change. New York: Da Capo Press.

Dawson, P., & Andriopoulos, C. (2014). Managing change, creativity and innovation. New York: Sage.

Jones, G. R. (2010). Organizational theory, design, and change. New York Routledge.

Kew, J., & Stredwick, J. (2017). Business environment: managing in a strategic context. New York: Kogan Page Publishers.

 

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