A paper in the Journal of
Knowledge Management, Economics & Information Technology by Siddhartha Ghosh attempts to
explore the methods in which a business may implement a strategy after the
global downturn. He argues that the three components includes innovation
promotional practices, social and organizational welfare, and ethical
behavior. He discussed the concept of
innovation and the overall process of development that should occur. As firms
implement new strategies, they will find an increase in market success through
the use of proper analysis to meet global challenges.
I-Ideas
N-New Plan or Design
N-Noticeable Changes
O-Optimum Change Evaluation
V-Variety
A-Adaption to the New Environment/New Business
T-Thought process for planned change.
I-Ideological developments in business.
O-Optimization of changes.
N-Numero Uno (Being at the top of the market).
The author further contends that there are four
major strategies to competing within the market 1. Holistic Business Strategy,
2. Polymorphic Business Strategy, 3. Green business strategy and, 4.
Country-club business strategy. Each of
the four strategies help organizations navigate the market in different ways.
Through the development of strategy frameworks organizations can finder higher
competitive frameworks.
Country-Club
Business Strategy:
Such organizations seek to find innovations and development in the human
arena. They look at human innovation, human behavior, human productivity, and
other human elements. The goal is to develop people and manage them well to
create advantages for the organization. Organizations can consider the SMIRNOFF
Analysis or MEDICATION Technique.
Polymorphic
Business Strategy: When organizations are already moving
upwards they should seek to design strategies for how far they can go. They may
use a HAIRL Analysis, encouraging employee decision making, and define their
strategies to maintain their growth. Such organizations should seek to maintain
their current growth but set longer-term sights to perpetuate their growth to
the top of their market.
Green
Business Strategy: As one of the most practical methods, organizations
should seek to develop their product lines and offerings to create greater
revenue. They may consider MARCO-POLO Analysis, SWOT and other opportunity-based
evaluations. Such businesses seek to
continue to develop and grow their customer’s bases using existing platforms.
Holistic
Business Strategy: The holistic strategy attempts to
predict where the business will be at certain points in the future so that the
proper decisions can be made. They may consider CATAPULT Planning or PERFECT
Forecasting in an effort to determine likely market trends and outcomes. The
goal is to stay ahead of these trends so that management decisions and
operations can be adjusted.
The author proposes that there are four basic
innovative strategies in the market. He categorizes these four strategies and
offers analyses that may be used in forecasting and understanding the business.
As businesses march out onto the global gladiator, arena they will need to
ensure they are seeking multiple methods of understanding their prospects and designing
appropriate methodologies.
Ghosh, S. (2012).
Change in strategy-the answer to overcome the global downturn. Journal of Knowledge Management, Economics
& Information Technology, 2 (4).
