Defining strategic adaptability
Characteristics such as speed, change, innovation, and flexibility are becoming the norm for 21st century business operations. As such, organizations wishing to survive and profit in an extremely dynamic 21st century market must find ways to adapt continuously their business strategies. Environmental scanning is the process by which companies examine their surroundings for trends that may affect the direction of their company. In response to the uncovered trends, executive leaders must then steer the company back on the path to competitive advantage. Strategic adaptation is one method available for companies to respond to an ever-changing market. If company leaders can see the environmental trends, recognize a change in direction is necessary, and successfully steer the company in that direction via a new strategy, they will be well on the way to securing a competitive advantage. In the following paragraphs, the companies previously identified will be examined in light of the concept of strategic adaptability and its relevance to the issues and opportunities facing each organization.
Starbucks also used strategic adaptability. The company and its shareholders have enthusiastically cheered the return of its founder, Howard Shultz. The Board of directors appointed Howard to replace Jim Donald who left in January. Howard Schultz in his five-point plan to revitalize the organization by focusing on one customer at a time to provide an in store experience has undertaken several initiatives to raise investors’ confidence. The organization cutback on the number of stores opening in the United States and diverted the earmarked money to open stores on the international fronts.
Starbucks has also added new fat free products to its menu to satisfy consumer concerns. In introducing fat-free mocha and latte, the organization aimed at dieters who still want to enjoy his or her favorite drinks and at the same time not worry about the calories...