Description
Reply to Trends in Strategic Management Discussion 2
Q – Please read the discussion below and prepare a Reply to this discussion with comments that further and advance the discussion topic.
Discussion
Introduction
The proliferation of emerging technologies and innovations in business practices impacts the strategic management of organizations. The operational administrations evaluate the external environment trend and control the workplace social environment according to the requirement. This study discusses the trends in the global environment for the next ten years and provides the three strategic practices for KSA companies based on socio-cognitive perspectives in strategic management (Grant, 2019).
Next Ten Year’s Global Business Environment
The global business environment is constantly evolving; it is complex for international vendors to manage the dynamic economic, political, and social factors that impact business. Companies are moving from traditional working practices toward technological function, so there would develop a technical and skillful workforce after ten years, and the technology raises cultural awareness in communities, so the business would face an environment of cultural competencies, so business leaders would likely to adopt the new operational strategies to align system of a multinational organization with the cultural environment. The oil and petroleum manufacturing organization may face the challenge of operating due to the higher allegations from environmental protection agencies. On the other hand, companies can face legal consequences after violating data protection laws because it would be difficult to maintain the privacy of sensitive datasets (Witt, 2019).
Three Topics For Strategic Management In KSA
Impact of Cognitive Behavior on Organizational Goals:
Companies develop strategies by considering all the external and internal factors that may influence their goals, but the article highlights that managers ignore the emotional aspect of decisions. In the institutional process, I think the first area for the KSA management is to consider the employees’ emotions within the company when making decisions. Why? It is important because it develops the motivation in the team to work for the common business goal (Pfarrer et al., 2019).
charting strategic Drift & shift (Moving Targets)
Companies should shift from the family firm’s system to the social system, and due to the advanced strategic frames, firms need to adopt external strategies, which help overcome these issues. It is the second area that can impact the KSA decrease if the companies don’t align the internal environment with external changes and do not prepare the plan on time; they will no longer operate in the competitive markets or compete with rivals (Pfarrer et al., 2019).
Understanding Managerial Biases & Attention (Inside the Mind)
The variation in the business attributes compared with arbitrage competitors provides a competitive advantage to the firm over the rivals. Companies must research historical data and areas of potential growth before deciding to acquire or merge. So, the KSA organization needs to consider this lesson from the article while making the decision of strategic choices; the strategic management needs to apply new techniques to operate within the combined business because the solved venture practices cannot apply in mutual business due to socio-cognitive factors (Pfarrer et al., 2019).
Conclusion
Effective strategic management has a significant role in the business’s success; the administrations evaluate the environment’s external changes and try to align the business with external trends. The article provides a lesson to Saudi organizational leaders: to consider the viewpoints and emotional aspects of the team to achieve the goal with high efficiency (Grant, 2019).
Discussion 2
Q – Please read the discussion below and prepare a Reply to this discussion with
comments that further and advance the discussion topic.
Please provide the references you used.
Ensure zero plagiarism.
Word limit: 250 words
Discussion
Introduction
The proliferation of emerging technologies and innovations in business practices
impacts the strategic management of organizations. The operational administrations evaluate
the external environment trend and control the workplace social environment according to the
requirement. This study discusses the trends in the global environment for the next ten years
and provides the three strategic practices for KSA companies based on socio-cognitive
perspectives in strategic management (Grant, 2019).
Next Ten Year’s Global Business Environment
The global business environment is constantly evolving; it is complex for international
vendors to manage the dynamic economic, political, and social factors that impact business.
Companies are moving from traditional working practices toward technological function, so
there would develop a technical and skillful workforce after ten years, and the technology raises
cultural awareness in communities, so the business would face an environment of cultural
competencies, so business leaders would likely to adopt the new operational strategies to align
system of a multinational organization with the cultural environment. The oil and petroleum
manufacturing organization may face the challenge of operating due to the higher allegations
from environmental protection agencies. On the other hand, companies can face legal
consequences after violating data protection laws because it would be difficult to maintain the
privacy of sensitive datasets (Witt, 2019).
Three Topics For Strategic Management In KSA
Impact of Cognitive Behavior on Organizational Goals:
Companies develop strategies by considering all the external and internal factors that
may influence their goals, but the article highlights that managers ignore the emotional aspect
of decisions. In the institutional process, I think the first area for the KSA management is to
consider the employees’ emotions within the company when making decisions. Why? It is
important because it develops the motivation in the team to work for the common business
goal (Pfarrer et al., 2019).
charting strategic Drift & shift (Moving Targets)
Companies should shift from the family firm’s system to the social system, and due to
the advanced strategic frames, firms need to adopt external strategies, which help overcome
these issues. It is the second area that can impact the KSA decrease if the companies don’t align
the internal environment with external changes and do not prepare the plan on time; they will
no longer operate in the competitive markets or compete with rivals (Pfarrer et al., 2019).
Understanding Managerial Biases & Attention (Inside the Mind)
The variation in the business attributes compared with arbitrage competitors provides a
competitive advantage to the firm over the rivals. Companies must research historical data and
areas of potential growth before deciding to acquire or merge. So, the KSA organization needs
to consider this lesson from the article while making the decision of strategic choices; the
strategic management needs to apply new techniques to operate within the combined business
because the solved venture practices cannot apply in mutual business due to socio-cognitive
factors (Pfarrer et al., 2019).
Conclusion
Effective strategic management has a significant role in the business’s success; the
administrations evaluate the environment’s external changes and try to align the business with
external trends. The article provides a lesson to Saudi organizational leaders: to consider the
viewpoints and emotional aspects of the team to achieve the goal with high efficiency (Grant,
2019).
References
Grant, R. M. (2019). Contemporary strategy analysis : text and cases (10th ed.). John Wiley & Sons
Inc.
Pfarrer, M. D., Devers, C. E., Corley, K., Cornelissen, J. P., Lange, D., Makadok, R., Mayer, K., &
Weber, L. (2019). Sociocognitive Perspectives in Strategic Management. Academy of
Management Review, 44(4), 767–774.
Witt, M. A. (2019). De-globalization: Theories, predictions, and Opportunities for International
Business Research. Journal of International Business Studies, 50(7), 1053–1077.
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