Change is the only thing that is stagnant in this world and it is the one thing that is obvious and true in the case of business world too, that’s the reason why business today around the globe is giving more consideration and emphasis to the situational factors. Change is probably the one word that could best define the modern day business and this might take into accountability all the factors from the technological frame work to the political scenario which put on ultimately to the contribution of situational factors.
Each day, it’s a new dawn, very similarly each business situation is faced with multiple facets of challenges, and each situation needs to be viewed as an infant that needs to be given customized consideration. Change is probably the most appropriate word that could best define the modern day business.
Business functions in a world of uncertainty where at every next moment is much expected with an essence of unpredictability and probably could be a new opportunity in disguise of a threat or a threat, which can be molded with perfection that becomes a stepping-stone for celebration. It may make the decision makers toil a little for it may not be drafted and forecasted by the laid down strategic plans.
And the evidence is before us, although these days a lot of time and effort is spent by the top management in strategic planning and counting on the opportunity costs but at the end of the day what comes handy is the right decision at the right time and in the right measures. This may probably be the reason why the organizations in spite of spending a lot of time in planning, do spend a great deal of effort in nurturing the decision to be on the way of the on the spot factors.
Today any organisation however big in terms of structure or in terms of production units, it needs to take care of these situational factors that arise up every time the business activities are geared up, and in case it stays adhered on with the set plans without lending an ear to the situational factors and reluctant enough as to not redraft the business plans it might be on its way speeding to its way of uncertainty and would conquer a territory of risk for itself.