Some effects of globalisation on business
The global economy is steadily integrating. This is leading to globalisation of various national economies. Some of the effects of globalisation on business can be seen in for example the automobile industry. There was a time when importing foreign-made cars were rare in the US, and such imports were either exotic or exorbitant. The 21st […]
Business plan – an entrepreneurial perspective
Every new business venture begins with a lot of passion, hard work and most importantly, a plan. Whether it is a start-up or an established business, a business plan ensures that a roadmap is ready to analyse and understand the various nuances related to the business. In fact, when an entrepreneur begins their adventurous journey […]
The renaissance of influencer marketing
Imagine walking through an aisle at a superstore looking for your favourite brand of coffee. You might come across a variety of coffee brands with attractive packaging. You raise your hand towards the jar of your usual brand, but then suddenly you see the jar of a new brand of coffee. You wonder why the […]
WhPrescriptive and Emergent Approaches to Strategic Planning: Are they Relevant to Organisations?
1.0 Introduction There is complexity and uncertainty involved in formulating, developing and implementing an organisation’s strategy. The strategy can be developed following prescriptive/deliberate approach and/or emergent approach. In this article, we will discuss the relevance of the two approaches to strategic planning. 2.0 Prescriptive and Emergent Approaches to Strategic Planning 2.1 Strategy and Strategic Planning […]
The ways, if any, the business environment will be different in ten years time
Scholarship wining entry Changes in the business environment in the 21st century occur frequently. The changes that have been witnessed over the past decades include globalisation, privatisation of public companies and the increase of liberal policies. In many instances, these factors led to the death of profitable companies. Therefore, it is essential for businesses to […]
Which Forces are driving the Need for Strategic Management?
1.0 Introduction Supply chain management can improve financial performance; lead to satisfied customers; reduce delivery times; and build trust, confidence and commitment among suppliers. However, integrating supply chains to achieve expected benefits is a key strategic challenge since managers operate in a complex, turbulent and highly competitive environment in which quick response to customer needs […]
Which Factors Influence Decisions to Integrate Supply Chains?
1.0 Introduction Supply chain management can improve financial performance; lead to satisfied customers; reduce delivery times; and build trust, confidence and commitment among suppliers. However, integrating supply chains to achieve expected benefits is a key strategic challenge since managers operate in a complex, turbulent and highly competitive environment in which quick response to customer needs […]
When will Strategic Capabilities Bring Sustainable Competitive Advantage?
1.0 Introduction Today’s business environment is highly competitive, challenging and complex, a reason why every firm has to focus on defeating competition, and attracting and retaining customers. This requires having strategic capabilities (resources and competences) that offer a competitive advantage over rivals. This implies that a firm must look for ways of acquiring resources and […]
How Does Globalisation Influence Organisational Decision Making and Strategy?
1.0 Introduction Globalisation, uncertainty and turbulence in the global environment has increased complexity of making strategic decisions and choices. This has in turn made firms face intense competition from domestic and global firms. As a result, firms face intense pressure to internationalise their operations. This is mainly to: reduce costs by relocating operations in countries […]
How are PESTEL Factors Related to Globalisation?
1.0 Introduction There is continued integration and internationalisation of production processes and capital markets, and flow of resources, cultures, goods and services among different nations: several things are getting globalised. Such globalisation has Political, Economic, Socio-cultural, Technological, Environmental, and Legal (PESTEL) factors that influence it and result from it. This article discusses how PESTEL factors […]