As we all know that business is essential for the every part of economic growth to every village,... more As we all know that business is essential for the every part of economic growth to every village, city, town, municipality, corporation, state, national, international, unions and agents, etc. We may know that business can be classified into profit and non profit sectors. Whether profit or non profit sector it is essential to perform well for the welfare of the people. These days most of the people are doing the business for the money because money is so important also people are very aware about money. But the author says money alone is not good along with there should be some considerable ethical events must be taken place. Let us take a food industry, most of the food industry in the world they are using the chemicals for the preservation which all are not good for the health and which brings obesity, cancer, hypertension, cholesterol, blood pressure etc. The inorganic food deteriorating the human quality and may be the gene. Though the world is growing in medical sciences, but i...
SIMSREE's 6th Asia Pacific International Conference On Changing Business Practices in current environment, 2019
Purpose: The business environment has always been changing. But in recent times, the pace of chan... more Purpose: The business environment has always been changing. But in recent times, the pace of change has increased rapidly and changes from many different areas are affecting businesses simultaneously. The existing business tools and techniques may not be adequate or relevant in their current form in this changing business environment. The purpose of this paper is to understand SWOT analysis, one of the most popular tools in strategic planning and suggest adaptations to match the emerging business landscape.
Design/Methodology: Research articles from peer reviewed scholarly journals, management journals were selected by using keywords - SWOT analysis. The papers were studied to understand the disadvantages and limitations of SWOT analysis. These limitations were then used to build enhancements to the SWOT tool to suggest a set of new tools for environment analysis and strategic planning.
Findings: The study of SWOT analysis identified several important limitations in the SWOT analysis; principal amongst them being lack of temporal perspective, lack of lower sub-system application in organisation, absence of factor identification and lack of action orientation. New tools based on Trends, Opportunities and Threats which addresses these gaps are recommended.
Research Limitations: The new tools suggested are propositional in nature. They need to be tested for comprehensiveness, adequacy, validity and effectiveness through opinions of practitioners and testing through implementation in real life. The paper does not apply quantitative techniques.
Managerial Implications: The proposed tools will force organisations to take two important steps in their strategic planning. One is to develop a futuristic, temporal view of important factors affecting their business and second is to develop an action plan to exploit opportunities and respond to threats emerging from these changes. The tools channelise the management to evaluate and plan actions for every important function in the value chain and hence encompasses the entire organisation in responding and preparing for the future.
Originality / Value: The proposed tools viz. Long picture, Opportunity space, Threat space and action space are a unique combination of PEST and SWOT tools in response to the current business environment. These tools are completely new and original in their approach and application.
Purpose: An ever changing business environment is the order of the day. Additionally, the pace of... more Purpose: An ever changing business environment is the order of the day. Additionally, the pace of change itself is increasing and the waves of change are coming from many directions. In such a situation businesses cannot be run by practices of yesterday, they respond by reinventing the way they are run. The purpose of this paper is to understand the trends shaping the business environment and the ways in which they have changed the business practices in select areas. Design/Methodology: Papers were selected from peer reviewed journals, business journals and consulting firms using keywords of 'Mega trends'. These papers were reviewed to get an overview of mega trends and their effect on business. There is a very wide variety of business functions generating a further multiplicity of business practices. To keep the study focussed, two areas of business management, Strategy and innovation, were selected for detailed study. Papers pertaining to these two areas were selected from peer reviewed journals and popular business magazines. These papers were analysed to identify the latest business practices in these two areas. Findings: This paper develops three important devices: A summary of the major global trends affecting the business environment through the synthesis of the literature, a concise identification of the emerging business practices and tools in the area of Strategy & innovation, and recommendations for adapting the business practices in response to the environmental changes. Research Limitations: The paper is focussed on two areas of management viz. Strategy and Innovation. The paper does not apply quantitative techniques. Managerial Implications: The summary of trends, list of top business practices and the recommendations for adapting the business practices provide a strong tool kit for businesses in facing the challenges posed by the rapid change in the business environment. Originality / Value: Strategy and Innovation are most critical areas which create value for the business by setting the direction and differentiating in the market. This study will hence be useful for businesses to continue being relevant and of value.
As we all know that business is essential for the every part of economic growth to every village,... more As we all know that business is essential for the every part of economic growth to every village, city, town, municipality, corporation, state, national, international, unions and agents, etc. We may know that business can be classified into profit and non profit sectors. Whether profit or non profit sector it is essential to perform well for the welfare of the people. These days most of the people are doing the business for the money because money is so important also people are very aware about money. But the author says money alone is not good along with there should be some considerable ethical events must be taken place. Let us take a food industry, most of the food industry in the world they are using the chemicals for the preservation which all are not good for the health and which brings obesity, cancer, hypertension, cholesterol, blood pressure etc. The inorganic food deteriorating the human quality and may be the gene. Though the world is growing in medical sciences, but i...
SIMSREE's 6th Asia Pacific International Conference On Changing Business Practices in current environment, 2019
Purpose: The business environment has always been changing. But in recent times, the pace of chan... more Purpose: The business environment has always been changing. But in recent times, the pace of change has increased rapidly and changes from many different areas are affecting businesses simultaneously. The existing business tools and techniques may not be adequate or relevant in their current form in this changing business environment. The purpose of this paper is to understand SWOT analysis, one of the most popular tools in strategic planning and suggest adaptations to match the emerging business landscape.
Design/Methodology: Research articles from peer reviewed scholarly journals, management journals were selected by using keywords - SWOT analysis. The papers were studied to understand the disadvantages and limitations of SWOT analysis. These limitations were then used to build enhancements to the SWOT tool to suggest a set of new tools for environment analysis and strategic planning.
Findings: The study of SWOT analysis identified several important limitations in the SWOT analysis; principal amongst them being lack of temporal perspective, lack of lower sub-system application in organisation, absence of factor identification and lack of action orientation. New tools based on Trends, Opportunities and Threats which addresses these gaps are recommended.
Research Limitations: The new tools suggested are propositional in nature. They need to be tested for comprehensiveness, adequacy, validity and effectiveness through opinions of practitioners and testing through implementation in real life. The paper does not apply quantitative techniques.
Managerial Implications: The proposed tools will force organisations to take two important steps in their strategic planning. One is to develop a futuristic, temporal view of important factors affecting their business and second is to develop an action plan to exploit opportunities and respond to threats emerging from these changes. The tools channelise the management to evaluate and plan actions for every important function in the value chain and hence encompasses the entire organisation in responding and preparing for the future.
Originality / Value: The proposed tools viz. Long picture, Opportunity space, Threat space and action space are a unique combination of PEST and SWOT tools in response to the current business environment. These tools are completely new and original in their approach and application.
Purpose: An ever changing business environment is the order of the day. Additionally, the pace of... more Purpose: An ever changing business environment is the order of the day. Additionally, the pace of change itself is increasing and the waves of change are coming from many directions. In such a situation businesses cannot be run by practices of yesterday, they respond by reinventing the way they are run. The purpose of this paper is to understand the trends shaping the business environment and the ways in which they have changed the business practices in select areas. Design/Methodology: Papers were selected from peer reviewed journals, business journals and consulting firms using keywords of 'Mega trends'. These papers were reviewed to get an overview of mega trends and their effect on business. There is a very wide variety of business functions generating a further multiplicity of business practices. To keep the study focussed, two areas of business management, Strategy and innovation, were selected for detailed study. Papers pertaining to these two areas were selected from peer reviewed journals and popular business magazines. These papers were analysed to identify the latest business practices in these two areas. Findings: This paper develops three important devices: A summary of the major global trends affecting the business environment through the synthesis of the literature, a concise identification of the emerging business practices and tools in the area of Strategy & innovation, and recommendations for adapting the business practices in response to the environmental changes. Research Limitations: The paper is focussed on two areas of management viz. Strategy and Innovation. The paper does not apply quantitative techniques. Managerial Implications: The summary of trends, list of top business practices and the recommendations for adapting the business practices provide a strong tool kit for businesses in facing the challenges posed by the rapid change in the business environment. Originality / Value: Strategy and Innovation are most critical areas which create value for the business by setting the direction and differentiating in the market. This study will hence be useful for businesses to continue being relevant and of value.
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Papers by Atul A Natu (Ph.D)
Design/Methodology: Research articles from peer reviewed scholarly journals, management journals were selected by using keywords - SWOT analysis. The papers were studied to understand the disadvantages and limitations of SWOT analysis. These limitations were then used to build enhancements to the SWOT tool to suggest a set of new tools for environment analysis and strategic planning.
Findings: The study of SWOT analysis identified several important limitations in the SWOT analysis; principal amongst them being lack of temporal perspective, lack of lower sub-system application in organisation, absence of factor identification and lack of action orientation. New tools based on Trends, Opportunities and Threats which addresses these gaps are recommended.
Research Limitations: The new tools suggested are propositional in nature. They need to be tested for comprehensiveness, adequacy, validity and effectiveness through opinions of practitioners and testing through implementation in real life. The paper does not apply quantitative techniques.
Managerial Implications: The proposed tools will force organisations to take two important steps in their strategic planning. One is to develop a futuristic, temporal view of important factors affecting their business and second is to develop an action plan to exploit opportunities and respond to threats emerging from these changes. The tools channelise the management to evaluate and plan actions for every important function in the value chain and hence encompasses the entire organisation in responding and preparing for the future.
Originality / Value: The proposed tools viz. Long picture, Opportunity space, Threat space and action space are a unique combination of PEST and SWOT tools in response to the current business environment. These tools are completely new and original in their approach and application.
Type of paper: Normative secondary research
Keywords – Trends, Megatrends, Management practices, Strategy, Business environment, SWOT, PESTLE, PEST.
Design/Methodology: Research articles from peer reviewed scholarly journals, management journals were selected by using keywords - SWOT analysis. The papers were studied to understand the disadvantages and limitations of SWOT analysis. These limitations were then used to build enhancements to the SWOT tool to suggest a set of new tools for environment analysis and strategic planning.
Findings: The study of SWOT analysis identified several important limitations in the SWOT analysis; principal amongst them being lack of temporal perspective, lack of lower sub-system application in organisation, absence of factor identification and lack of action orientation. New tools based on Trends, Opportunities and Threats which addresses these gaps are recommended.
Research Limitations: The new tools suggested are propositional in nature. They need to be tested for comprehensiveness, adequacy, validity and effectiveness through opinions of practitioners and testing through implementation in real life. The paper does not apply quantitative techniques.
Managerial Implications: The proposed tools will force organisations to take two important steps in their strategic planning. One is to develop a futuristic, temporal view of important factors affecting their business and second is to develop an action plan to exploit opportunities and respond to threats emerging from these changes. The tools channelise the management to evaluate and plan actions for every important function in the value chain and hence encompasses the entire organisation in responding and preparing for the future.
Originality / Value: The proposed tools viz. Long picture, Opportunity space, Threat space and action space are a unique combination of PEST and SWOT tools in response to the current business environment. These tools are completely new and original in their approach and application.
Type of paper: Normative secondary research
Keywords – Trends, Megatrends, Management practices, Strategy, Business environment, SWOT, PESTLE, PEST.