Strategy Future

Question 1

What are some examples of events that has made the 21st century turbulent?

Answer 1

9/11 attacks
GFC
Natural disasters
COVID-19

Question 2

Explain the new business’s environment/turbulent future and what it will require businesses to do?

Answer 2

Firms need to adapt and have more complex sources of competitive advantage to mitigate and manage the impact of the turbulent 21st century.

Question 3

What are the multiple layers of strategy used to seek a more complex source of competitive advantage?

Answer 3

• Cost efficiency
• Differentiation
• Innovation
• Responsiveness
• Global learning

Question 4

Explain the changing role of managers

Answer 4

It used to be focused on their ability to build confidence, deliver results, and influence others.

Now it is about motivating colleagues, create flexibility, self-awareness and be proactive in problem solving.