Business changes and Strategy in the Kingdom of Saudi Arabia

A critical development is that the global environment is the amount of innovation in the coming years. It is increasingly growing and it is a key for growth and development,

With the growth in technology, innovation is allowing an incredible level and at an unnoticed rate.

To remain competitive, companies will be an active in development in the global business environment in the next few years. Mergers and partnerships has gained popularity. Operating in a new market, firms need to  decide a partner with and with an established company in the market. Globalization will be very usual in business arenas since a lot of companies will go international (Munger, 2003).

               Saudi Arabia is facing numerous challenges due to recent key developments. The companies will have to invest more in expanding their businesses to the international arenas. This will be put cost and a lot of effort. Technology deployment in operations will be a challenge which will require organizations to hire experts and purchase new technology.

One great challenge for leaders is the ability to assess, diagnose, and set a plan for organizational change in an innovation thriving environment. Aligning systems and processes to manage change and realize strategy (Ning, 2012). Strategy in relation to innovation is interesting and challenging, thus, the culture of the organization plays an important role in the pursuit of a successful implementation. Structure, processes, reward systems, and people are mainly important in innovative organizations. To sustain competitive advantage firms are required to innovate and continuously improve (Grant & Jordan, 2015).

References

Grant, R. M., & Jordan J. (2015). Foundations of strategy [PowerPoint slides]. Hoboken, NJ: John Wiley & Sons.

Grant, R. M. (2016). Contemporary Strategy Analysis: Text and Cases Edition. Hoboken, NJ: John Wiley & Sons.

Munger, J. L. (2003). Retail Changes and Their Effects on Business-to-Business Markets. Journal of Business-to-Business Marketing, 10(2), 79-100. 

Ning, H. (2012). How to maintain sustainable competitive advantages: a Case study on the evolution of organizational strategic management. International Journal of Business Administration, 3(5), 45-51.