Strategy of Changing Global Business Environment

Subject: Management
Pages: 2
Words: 603
Reading time:
3 min
Study level: Master

Economic entities should adapt quickly to the requirements of a permanently changing business environment to ensure sustainable survival and progressive growth in an unstable modern world. Adaptation is one of the fundamental properties of the existence and development of these sectors. The need to respond quickly to the dynamically changing economic situation forces financial entities to make constant adjustments to the current management system. It causes companies to have a flexible toolkit that allows them to adapt to new business requirements instantly. The final choice of the variant of functioning of the controlled object remains the prerogative of the managers of the corresponding levels of administration. Supervisors play an essential role in implementing strategies to achieve the mission and goals of the company.

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The task of a modern manager is to create such conditions in which ordinary people can achieve extraordinary results. The subordinates themselves, with the help of directors, must evolve from controlled employees to empowered professionals. My past supervisor had a realistic and flexible approach to management. This approach combined and synchronized all the primary functions of management: planning, organizing, controlling, and leading (Lloyd & Aho, 2020). Its main task was to ensure the most effective administration of the organization. He played a crucial role in improving supervision following trends in socio-economic development. His primary skills and traits were leadership, communication facilities, ability to delegate, flexibility and practicality, and confidence. The combination of these characteristics enabled him to intelligently assess the state of the market and adapt in time, considering the global business environment, thus taking the company to the leading position.

Kaiser Permanente is one of the leading healthcare services and non-profit health plan providers in the United States. This organization competes in the health care industry; the company also focuses on innovation in health education and social health improvement (Kaiser Permanente, n.d.). The firm’s strategic plan is to collaborate with other key players, such as the government. This approach gives the firm a stronger foothold in the marketplace, and it also helps address issues such as the recent COVID-19 pandemic. As part of the national campaign against the deadly pandemic, Kaiser Permanente provided ten million dollars in community grants (Kaiser Permanente, 2019). Based on the reports presented on the company’s website, one can see that the organization conducts more and more research each year, expands its research staff and personnel, publishes more work, and provides new services. The global environment has significantly changed since the pandemic situation, including the business sector. Kaiser Permanente has adapted to this environment, adjusted some of its approaches, and launched new campaigns and innovations to meet the population’s needs. The changes in the company’s strategies have brought positive results, as evidenced by the increase in the organization’s profits.

The world is undergoing catastrophic changes in nature, technology, economy, and society. Business as usual is no longer acceptable, and the question is how long the world can continue to strive for consumption and growth based on ever-increasing efficiency. The coronavirus pandemic has elevated attention on the vulnerable state of the global economy, the relationship with nature, and the prospects for the survival and prosperity of all living people. Every business will need to use all the ingenuity, creativity, and imagination they can to navigate the coming decade of transformative change. It will take leaders to reorient the economy and their businesses away from nature and people toward a new model of prosperity based on ecological and equitable principles. Business leaders need to rethink their goals and strategies in the contemporary context, explore different options for the future, find new partners, and create space for experimentation.

References

Kaiser Permanente. (2019). Kaiser Permanente Announces Three Initiatives to Improve Community Health by Tackling Housing Insecurity. PR Newswire. Web.

Kaiser Permanente. (n.d.). Web.

Lloyd, R., & Aho, W. (2020). The Four Functions of Management – An essential guide to Management Principles. Fort Hays State University.

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