The paper 'Future for the Creation of Strategies and Appropriate Business Processes' is a great example of a business assignment. The future of any business is changing rapidly and requires strategic planning and the ability to take advantage of emerging opportunities. Competing for the future refers to the creation of strategies. Treacy (2005) explains that strategy and organization are vital tools that provide a safe avenue for a business’ s future. Without proper strategies, an organization cannot develop a concrete plan for achieving any goals in the future. Essentially, competing for the future enables companies to stay in tune with their competitors and the market. To effectively compete for the future, organizations should develop new and improved business ideas and change the rules of engagement.
This will have the positive effect of transforming the organization and hence create a proactive agenda for achieving strategic business objectives. His book, Moreton (2003) notes that competing for the future creates valuable opportunities for stabilizing the market share, which in turn strengthens an organization’ s core business values and ability to grow. It is, therefore, important for companies to look at outside sources, threats, and opportunities in order to stay alive in the competitive market.
Although the process of creating a sustainable business future is more challenging like creating a successful business, it helps place a business in a strategically comfortable position. For instance, companies that have successfully competed for the future can easily take advantage of new technologies and business processes. This not only increases the companies’ ability to compete with its rivals but also increases the company’ s production efficiency, which influences market share and profitability. According to Moreton (2003), the main reason why companies compete for the future is to create strategic business positions that will enable them to meet their long time goals.
This requires an understanding of how competition in the future will be different from today’ s competition. Understanding an organization’ s position in the industry and the market can be crucial in making decisions regarding a business’ s strategic plan. The dangers that are involved in not understanding an organization’ s position, goals, and challenges are manifested in the inability to compete effectively for the future.
This may cause a business organization to decrease the profit margin. Treacy (2005) has underscored the importance of competing for the future by asserting that companies can easily become old and die out if they fail to change their strategies and adapt to popular trends in their industries. One of the companies which have successfully competed for the future is Verizon Inc. This is a telecommunication giant based in the United Kingdom. The company has active operations in more than 40 countries where it offers telephone and internet services. Having realized the changing nature of competition in the telecommunication industry, Verizon has diversified its services by incorporating new technologies, multiple channel video program systems, and broadband services.
This strategy has made the company the largest telecommunication service provider in the world and has given it a competitive edge over future competition.
Kang, K. N. 2007, Strategic Business Management, Boston, Deep & Deep Publications.
Moreton, K. M. 2003, Strategic management and business analysis, Elsevier, Butterworth- Heineman.
Treacy, T. 2005, The Discipline of Market Leaders, Cambridge, MA: Perseus