Please help answer the following questions:
Fundamental to strategic managementis the need to change strategies over time. Why is this necessary? How is this accomplished? How do you get stakeholders to buy into these changes?
An organization’s goals are often achieved by setting out strategies which maximize the potential of beneficial variables (e.g. factors that lead to revenue, such as rate of production) while minimizing costly ones (e.g. cost of supplies).
The trouble is, the environment an organization operates in is not always stable and constant. The price of supplies one week may be very different from that of the price of those same supplies the next week. Although most strategies often account for fluctuations in …
This solution provides a brief overview of why organizations need to change strategies after a period of time, an example of how this is done and lastly, a short discussion on presenting such changes to stakeholders. The explanation is given in 336 words.