Individual Coursework on Business
Business is a complex system of processes influenced by the diversity of factors. Competition is one of the main peculiarities of companies striving to achieve success in terms of contemporary business system. Idea is a key element in the development of the company. It means that companies strive to develop plans, which will allow the company winning another range of competitive benefits. Strategies developed within the company should be effective enough to provide long-term success. However, success might be blinding when the company has been going through many problems in order to achieve the main goals. It means that it may lead to the company's inability to switch to another mode, which will help to achieve another level of the success and development. Experts define this phenomenon as a strategic drift. It can have a significant influence on the company's performance and sustainability in general. It happens for several reasons, which are worth of involving in the research in order to understand peculiarities of its influence.
Strategic drift is a concept, which can take place in any company. It happens for the reason of inopportune response of the company to the changes in tendencies of competition. For example, as soon as the company achieves success, it believes that its previous strategy will be appropriate for further growth. However, it is the company's mistake to think that old patterns of organizational behavior can bring it to another stage of development. Success can make a company blind in the prospect of achieved goals and slow down its intention to develop another set of actions (Shahri, 2011). Strategic drift can cause many problems, which devastate the company's system of competitive advantages. It destroys the company's progress towards goals achievement. In fact, it is a phenomenon, which can lead to the self-destruction of the company in general. Strategic drift can become a dead point, which will stop the company's growth. Another reason of the strategic drift lies in the avoidance of loyalty by the company's employees. If the company does not take care of employees' identity to the company's standards of performance and main goals, it will keep losing human resources. In addition, employees may take care only of their personal growth within the company. It happens as long as the company fails to motivate its employees to contribute to the overall welfare. It can be a consequence of the weak motivational system, which reduces efficiency of the company's performance (Murimbica & Urban, 2013). However, if the company neglects any element of its activity, which has a connection to the strategic plan, it will face strategic drift eventually.
Strategic drift is a threat to the company's overall productivity and efficiency. It means that it is important to establish a system of measures, which will guarantee the company's successful performance from the beginning of its existence. Intended and emergent strategies can become the main elements providing the company with support during difficulties. It is the company's duty to develop an effective plan including different strategies aimed to preserve the company's sustainable growth. Some companies manage to apply only one type of strategy in order to avoid strategic drift. However, it is important to establish a comprehensive approach towards formulation of a plan involving elements of both strategies. First, it is necessary to take into account peculiarities of every strategy in order to understand the touching points of them, which will help to establish an effective system of measures.
Intended strategy is a plan including a systematic approach towards success achievement. It is a plan of actions, which takes into account the company's intentions and directions of development, which will help it to attain goals. Intended strategy can become an obstacle at the same time. It is important to create it carefully in order to enhance the development of the company and not to create the opposite effect on its sustainability. It can create difficulties as long as differences between realized strategy and intended strategy may arise. Intentions are the basement of the plan of action. It sets the nature of the company's performance. Intended strategy development considers taking a comprehensive approach towards evaluation of the company's strengths and weaknesses. The main aim is to include strengths emphasizing the company's opportunities to grow and develop. In addition, an intended strategy should have a plan of actions, which will reduce the negative influence of weaknesses. Moreover, a plan should involve elimination of weaknesses. Intended strategy should also have a comprehensive nature in order to be effective in regulation of the diversity of processes causing a strategic drift (Bodwell & Chermak, 2010). It is obvious that a strategic drift may be a result of different processes running within both external and internal environments. Strategic drift should be avoidable thanks to the forehanded action from the side of the company. It is a fact that immediate action always brings to the success. It is a mandatory element of the general strategy to include an intended strategy. In fact, it is the basement of the overall company's strategy. It is the reason it is important to conduct a comprehensive SWOT analysis, which will underline the company's main targets in the prospect of its peculiarities. An intended strategy development has several steps, which help to distinguish strengths and diminish weaknesses, which can slow down the development of the company. In addition, an intended strategy can not only help to avoid a strategic drift, but also increase its productivity. It depends on the company's efforts taken in order to establish an effective intended strategy. For example, if the company makes a deep analysis of the internal and external environments, evaluates tendencies in the prospect of competitors' development, its chances for the appropriate development in terms of changeable environment are high enough to guarantee its growth. The following steps can help to establish an effective intended strategy, which will boost the performance of the company.
First, it is necessary to take into account the first stage of development. Exchange of ideas is a mandatory element of the intended strategy development. Employees, professionals and other experts can have an essential impact on the establishment of the effective system of measures aimed to enhance the company's welfare. Employees can become the source of the internal factors evaluation, while experts can provide with analysis of the external threats and opportunities (Liebhart & Lorenzo, 2010). Various professionals can contribute to the development of actions aimed to keep the company in the same pace with other companies. Maintenance of the competition is a mandatory element of the company's intended strategy. It should involve all points, which can essentially influence on the winning strategy of the company (Lovell, 2009). Competitors can create the diversity of barriers, which can have a significant impact on all elements of the company's performance. Another measure in the establishment of an effective intended strategy is the company's motivational system. As long as there is a risk of losing employees or facing their selfish behavior towards success, it is necessary to evaluate the most efficient way of their motivation. It is a mandatory element of the intended strategy, which can help the company to grow and develop along with meeting requirements of employees. Satisfied employees will be increasing their productivity along with the company's growth. Finally, both employees and the company will be performing in the same cycle. However, intended strategy is not always enough to enhance the company's development. It means that it is necessary to take into account other measures of strategic drift prevention. Combination of intended and emergent strategies is an appropriate tool, which will help to handle the risky situation.
Emergent strategy is a set of actions, which the company takes in the response to the threats caused by processes running in the economic segment. It is a fact that it is impossible to prepare to every threat. However, it is possible to establish an appropriate response to the situations having a negative impact on the company's sustainability. Emergent strategy development is a mandatory element of the company's performance at any stage of performance. It is impossible to predict when economy or other external factors are most likely to hit. It is necessary to have a set of actions developed by the experienced experts along with the company's top management. It is necessary to see the moment, when the company needs to switch to another strategy in order to avoid strategic drift. Emergent strategy will help the company gain success in case all its elements will take immediate action aimed to reduce the negative influence of the external factors. Emergent strategy differs from intended strategy in the form of activity. Intended strategy implies that the company has the intention to achieve goals. Emergent strategy implies that the company takes immediate action in order to protect its sustainability and enhance the overall development. In addition, emergent strategy takes into account the company's intentions accompanied by current situation of both internal and external environment. It is impossible to specify steps, which need to be taken in order to develop an emergent strategy as long as every company has its own performance style according to the segment of economy, in which it operates. However, there are general principles, which can help to bring the company to success and avoid strategic drift. The main idea of an emergent strategy is that the company can take an immediate action in order to response to the threats caused by the diversity of factors. In addition, the company's emergent strategy should include the same core goals and objectives of the company's plan. Moreover, all employees should take action in case of facing threats and risky situations. A company is an organism, which should have a smooth performance and response to any negative impact at all levels of its activity. It is important to introduce both intended sand emergent strategies to all employees (Fischoff, 2011). Every structural element of the company should be ready to response to the problems and difficulties faced on the way to success. Collective decision-making can become an effective tool integrating all departments into a single thinking engine, which enhances both intellectual resources of the company and identity of all employees. As long as the companies can quickly response to the threats caused by the external environment, they can continue their growth and development. Emergent strategy platform can ensure that the company will attain goals mentioned in the intended strategy. In addition, it is a guarantee that the company can switch to any environment and continue its development regardless of the diversity of changeable factors. Emergent strategy helps the company in accommodation to the tendencies leading to non-stable nature of the economic sector.
In conclusion, it is necessary to emphasize the importance of intended and emergent strategies integration. The company cannot attain success with only one strategy. It is necessary to include all employees and create a comprehensive system of measures, which will help to achieve success. In addition, core values and principles should become the basement of the development of both strategies. However, it is necessary to transform goals and objective according to the influence of the external business environment. The main idea is to focus on the company as on the element of the economic sector, which needs to switch to the mode of accommodation as soon as changes become unavoidable. Intended and emergent strategies provide companies with flexibility, which guarantees sustainable growth and development. The company should not neglect involving of experts and professionals. It can help the company to survive in the world of tough competition. Finally, the company will learn how to grow and develop in terms of changeable conditions. It is impossible to fail in success achievement, when the company has an effective system of measures ready to bring it to another stage of development. The company will only benefit from investing its resources into the development of strategies, which can help to avoid strategic drift.
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