The competition has to become more intense to reach developments in the global environment of business. However, increased competition from emerging markets or new entrants may be unsuccessful and adversely affect competitive advantage (Grant, 2019). Thus, it is highly recommended that companies must develop advanced sources of competitive advantage through innovation and patents in order to have effective organizational structures and culture.
The most important new directions in strategic thinking include recognition of globalization by examining and analyzing the external and internal environment in order to have future predictions of both opportunities and risks to be prepared for them. Also, focusing on organizational environment, cooperation, and sustainability would significantly influence change management. Such strategic will success in influencing change management through using new trends (e.g., technology, artificial intelligence, and telecommuting) for working on advanced methods of development, creativity, innovation, change, and adaptation. Move forward in developing a strategy includes vision, creativity, flexibility, and entrepreneurship (Nuntamanop, Kauranen & Igel, 2013)
The companies and individuals must make a commitment to technology support and training. Efficient use of word processing, spreadsheets and database tools can improve productivity. The proper use of Sales force or other contact management and sale automation tools can be very productive. Online meeting site selection tools can save time as well as knowing the proper use of a wide range of event and trade show technology tools. Meeting planning software, when used efficiently, can streamline and automate many meeting planning tasks. It is essential that, not only do companies provide tech tools to increase productivity, but they need to devote time and resources to make sure that staff are properly trained in using them. The most productive employees tend to embrace technology change and actively seek out opportunities to learn. There are loads of free tech training videos on YouTube. An excellent way of finding out about new technology for the events and trade show industries is at trade shows and industry meetings. There are also publications, newsletters and blogs than commonly address using technology for the events.
References
Weber, K. M., Harper, J. C., Könnölä, T., & Carabias Barceló, V. (2012). Coping with a fast-changing world: Towards new systems of future-oriented technology analysis. Science and Public Policy, 39(2), 153-165.
Nuntamanop, P., Kauranen, I., & Igel, B. (2013). A new model of strategic thinking competency. Journal of Strategy and Management, 6(3), 242-264.
Grant, R. M. (2019). Contemporary Strategy Analysis (10th Ed.). Hoboken, NJ: John Wiley & Sons. ISBN: 9781119495727
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