Some strategies for improving competence in adaptive capabilities include: developing a clear understanding of the environment and its predictability and malleability, avoiding overconfidence and overestimation of control over the environment, breaking away from unexamined habits and traditional strategic planning methods, and prioritizing speed of decision making over accuracy in fast-paced environments.

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Business Strategies and Frameworks (Part 2)

Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you some of the most useful and popular business stra...

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Misplaced confidence – in order to choose the right strategic style, one must first accurately evaluate the predictability and malleability of the environment. As a part of the study conducted under Reeves' leadership, executives' perceptions with objective measures of their actual environments were compared. A strong tendency to overestimate both factors was revealed as a result – over 80% of the executives said that "achieving goals depended on their own actions more than on things they could not control." Unexamined habits – although the majority of the executives surveyed agreed that building the adaptive capabilities required to address unpredictable environments was important, fewer than one in five felt sufficiently competent in them. Nearly 80% said that in practice they begin their strategic planning by articulating a goal and then analyzing how to get there. 70% said that they value accuracy over speed of decisions, even when they are well aware that their environment is fast...

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Supply chain risk management contributes to supply chain resilience in several ways:

Firstly, it helps in identifying potential risks and vulnerabilities within the supply chain. This includes risks associated with suppliers, logistics, market fluctuations, and more. By identifying these risks, businesses can develop strategies to mitigate them.

Secondly, it allows for the development of contingency plans. These plans can be activated in the event of a disruption, ensuring that the supply chain can continue to function and deliver products or services to customers.

Thirdly, it promotes flexibility and adaptability in the supply chain. By understanding the risks and having plans in place, businesses can quickly adapt to changes and disruptions, making the supply chain more resilient.

Lastly, it encourages continuous improvement. As risks are identified and mitigated, and as the business learns from disruptions, the supply chain becomes stronger and more resilient.

In summary, supply chain risk management is a critical component of supply chain resilience, helping businesses to anticipate, prepare for, and respond to disruptions.

Global and international strategies significantly impact supply chain management in several ways.

Firstly, they influence the structure of the supply chain. A global strategy may lead to a centralized supply chain, while an international strategy might result in a more decentralized supply chain.

Secondly, these strategies affect the sourcing of materials. For instance, a company with a global strategy might source materials from low-cost countries, while a company with an international strategy might prefer local suppliers to cater to specific market needs.

Thirdly, these strategies impact the distribution of products. A global strategy might involve a uniform distribution strategy across all markets, while an international strategy might require a tailored distribution approach for each market.

A case study example is Apple Inc. The company employs a global strategy, sourcing components from various countries, assembling them in China, and selling the finished products worldwide. This strategy allows Apple to keep costs low and maintain a uniform product quality and brand image across all markets.

However, it's important to note that both strategies come with their own set of challenges, such as managing logistics, dealing with local regulations, and handling cultural differences. Therefore, companies need to carefully consider these factors when developing their global or international strategies.

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