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Week 5 Participation 5

Week 5 Participation 5

Q Table 9-2 in our textbook is very interesting. It says that companies continue with their strategy as long as the company’s internal and external positions haven’t changed and the company is meeting its objectives. Under the remaining seven scenarios the company should change its strategic direction. There are four scenarios where the company is meeting its objectives, but in only one scenario do the authors recommend staying the course. In the other three they suggest taking corrective action, even though objectives are being met. Why would you take corrective action when you’re meeting your company’s objectives? There’s always a risk and a resource drain when you shift strategies. Aren’t you taking a risk by chasing internal or external events? Could you potentially end up not meeting your company’s objectives with the new, improved strategy?

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I think that corrective action is important while meeting company objectives because of the ways in which error percentage can get enhanced while implementing formulated organizational strategies. There might be risk analysis done before or after the formulation of organizational strategies in an organization by the management of an organization. However, it does not mean that the risk analysis will always be absolutely appropriate and correct in identifying all the probable risks of the business while implementing the formulated strategic business plans as formulated by the management of the organization.