Develop Long-Term Strategy for Business Growth: Why it is Important - Essay Sample

Introduction

The problem with not having a strategy is that the business conditions and the environment may change, for instance, through the introduction of new laws and policies. Hence, a strategy in business is important as one can set plans to manage the unexpected change in the market to remain sustainable. A strategic evaluation of business growth is essential to examine future opportunities. Therefore, it is important for a business organization to develop a long-term strategy to manage growth in all future situations in the business environment.

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The following are goals considered with regards to conducting a SWOT analysis: to overcome the intimidating competition, to increase the pace of development, and to launch a new product into the market.

Creativity is essential in solving problems and in performing strategic management. People can be trained to improve on their creative talents for proper management of business operations. The process of creativity is initiated by a brain function of learning new information, and the thought process of the brain. Hence, creativity is important in the development of a leader having problem-solving skills and innovation (Naiman, 2014).

PERT network exemplifies tasks visually and the dependencies of massive projects by the use of network diagrams.

Description of the goal: to make developing software for every production process for a smooth manufacturing process.

The production software plan contains coding and information storage plans, interface plans, and unit testing.

Deadline: We determine the start and end time of a particular task before the imitation of the creation process.Risk culture is a system of behaviors and values found within an organization shaping the risk decisions of both the employees and management (Farrell, 2009). The characteristic of risk culture is the understanding of the organization and its purpose in business. Also, the employees within an organization should have the realization that compliance and risk rules are applicable to everyone in the working environment as they conduct their duties to accomplish the organization's goals. Hence, the company can do the right thing to ensure there are proper risk management practices.

Therefore, I agree with the topic of risk management as a strong risk culture in the company that enables the employees to understand the purpose of the organization, its jurisdiction of operation, and there can be open discussions of the risks considered to realize both short-term and long-term goals of the company. Moreover, the hiring process in an organization is significant for its sustainability. Hence, the organization can carefully incorporate risk management in the hiring process to ensure the employees fit in the organization's risk culture. Thus, I agree with the risk culture since it provides an opportunity to understand risks.

The management of the risk culture at my company begins with the initiation of conversation among the management and boards. That is because consideration of leadership is critical to affecting the change needed with regards to risk culture management. Thereafter, there is the consideration of middle and senior management of the organization as they are significant in influencing the general behavior in the working environment. Hence, the risk culture management in my company is dependent upon the education of all levels of management staff.

References

Farrell, J. M. (2009). What's Your Company's Risk Culture? http://www.businessweek.com/managing/content/may2009/ca20090512_720476.htm

Naiman, L. (2014). Arts in Business. https://www.creativityatwork.com/arts-in-business-applying-the-arts-to-organisational-learning/