Reference no: EM133379617

Topic- Strategic management in a new global scenario

Demand change for consumer goods is caused mainly by changes in disposable income and lifestyles. Demand changes are also influenced by competition and marketing strategies of firms. There is also an intense concern and compulsion for Corporate Values and Social Responsibility due to socio economic impacts caused by rapid industrial growth, competition, and Government intervention in the contemporary business world. Thus, the old concept of business which rested on profit maximization later shifted to customer satisfaction and his long-term welfare. The business philosophy has gone further to embrace the "Three Ps", People, Planet and profits. Thus, opportunities, innovations, and competition have to be managed within this new framework.

Tasks

1. Critically analyse how globalization caused an increasing influence on business ethics and social responsibility in the contemporary business world.

2. Strategic capability, competitive advantage, and superior customer services are considered as the three strategic pillars of sustainable growth of a business organization. Critically discuss the three concepts above using relevant examples.

3. Constant changes are a part of business organizations. Changes can also create new opportunities or threats. However, changes are often resisted by those who are affected by changes. Explain the change management process in orgaisations with reference to at least one example from a local or overseas organistion.Clearly discuss how the organization you have selected as examples overcame resistance to change.

4. Changes are successfully implemented by leaders who have a long-term vision and skills in managing people. What are the qualities of leaders who are likely to make effective changes? Critically discuss taking two examples of organizational leadership.