Innovative Ways to Thrive in the Complex Dynamic Global Environment

Thriving in the Global Environment
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Thriving in the Global Environment
Introduction
In the current complex dynamic global environment, the success of businesses is dependent on many factors, some of which are within their control while others are not. Given the many factors such as disruptive technologies, changing needs of customers, multiple cultures, and different generations in the workplace, businesses in the global environment have to be constantly aware of any force that may interfere with their operations. Challenges in the global environment are complex because they are interrelated and as an organization tries to find a solution to one problem, it may be necessary to solve other challenges (de Wit, 2020). With many companies seeking competitive advantage in the international business environment, success means being able to address the uncertainty and complicatedness in the market. While there are many strategies an established business can employ to thrive in the modern dynamic and complex business environment, this paper focuses on the development of corporate mission and vision, reengineering, strategic renewal, and building of a learning organization.
Corporate Mission and Strategic Vision
Corporate mission and vision form one of the most basic parts of an organization as they portray the reason for its existence and the direction it is taking. As noted by de Wit (2020), an organization’s corporate mission and vision play a key role in guiding it towards a particular direction. The author points out that major elements of an organization’s mission are purpose, beliefs, values, and business definitions. These are integral factors in helping an organization thrive in the global environment. Through the corporate mission, one can tell why a company exists and the values that govern the direction it is taking. When it comes to the corporate vision, its key elements include the desired future state, envisioned industry environment, time horizon, and envisioned contextual environment (de Wit, 2020). Given this information, it is deducible that corporate mission and vision are important pillars in the operations of a company. The functions of the strategic vision and corporate as stipulated by de Wit (2020) include legitimization of a company’s activities, direction, and motivation of employees. Given these functions, it is clear that with a properly designed mission and vision, an established business can develop relevant changes that contribute to thriving in the global environment.
The strategic vision and corporate mission of an organization can thus define the limits within which innovation can take place in order to promote success. For example, they can define the operations of a firm to focus solely on a particular type of business or industry, such as cloud computing. In this case, backed by a corporate mission and strategic vision, an established business can decide to focus its resources on innovation in the cloud computing sector. Perhaps for an established business, the necessary transformation may require an adjustment to its mission and vision to accommodate the way it wants to oper...