Although organizations have used to develop business strategies to direct their operations and processes for years, this trend has changed significantly. Developing a plan for a company is a continuous undertaking requiring sustained modifications, redesigns, the adoption of new ideas, and the dropping of others. The previously sensible strategies are impacted by numerous factors, such as the dynamic market conditions and fundamental consumer insights on a particular product, which necessitate the refashioning of the original plan. For instance, despite the revolutionary and transformative effect of Apple’s iPad on mobile computing devices, the tremendously successful merchandise has been redesigned multiple times, reflecting the evolving nature of business strategies. Although companies prepared rigid plans in previous years, such strategies could not swiftly respond to changing business circumstances or allow firms to be alert to new opportunities.
A strategy is an integral organizational component, which guides the various decision-making processes of a company. Ajagbe et al. (2016) argue that business plans contribute immensely to enhancing the performance of a firm. However, it is imperative for entities to periodically and continually review their roadmap to improve the responsiveness to the ever-changing business circumstances and allow the speedy exploitation of emerging opportunities. According to Burisch and Wohlgemuth (2016), perpetual evaluation of the business strategies creates flexibility, which supports the continuous establishment of customer value and the generation of competitive advantage. The success of Apple’s iPad can be attributed to the company’s ability to detect the changes within its business environment and to remain alert to emerging opportunities, such as the need for smaller computing technology (IDG Techtalk, 2010). For instance, the company has continually integrated consumer insights to enhance the competitiveness of the device and ensure it meets the daily requirements of the end-users. Therefore, the creation of a business strategy has increasingly become a continuous organizational undertaking.
Conclusively, organizations develop strategies as a roadmap to guide their decision-making. In previous years, business plans were made to direct companies for long periods and were characterized by rigidity. However, the success of Apple’s iPad demonstrates the essence of continually reviewing business strategies and perpetually redesigning, modifying, and refashioning them to create consumer value and generate competitive advantage. Flexible plans enable firms to react to the dynamics of their external environment and facilitate their responsiveness to emerging opportunities.
References
Ajagbe, M. A., Peter, O. F., Udo, E. E., Uduimoh, A. A., & Akpan, S. E. (2016). Business strategy as a contributor to organizational performance. International Journal of Advanced Academic Research, 2(3), 1–19.
Burisch, R., & Wohlgemuth, V. (2016). Blind spots of dynamic capabilities: A systematic theoretic perspective. Journal of Innovation & Knowledge, 1(2), 109–116.
IDG Techtalk. (2010). Apple iPad hits stores in the US. YouTube.