Model for Strategic Management for Business | Daily News


 

Model for Strategic Management for Business

In Sri Lanka, there is a need for all businesses to revisit their strategies. Even we study situational analysis in business with all external environmental factors such as PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) the pandemic such as Covid-19 could not come into any equation.

This is high time for any company to think about having a cross-function team to have strategies for the future. There is a need for the organization to learn some success stories around the globe and see available recourses and competencies in the organization. And also the selected employees should be change agents for the organization with creativity .If you see success stories in international scenario there is one unique quality can be seen among change agents. This we called as “sense of belongingness” to their country. It is a duty of top management in business to consider that “unique quality” in selecting the team. This is really a simple thing. We need to search for people who love their country More importantly, we need to have representatives who are really “Sri Lankans” and respect the 30,000 years of rich civilization and willing to learn miracles like the water-cooling system of Sigiriya, built by Sigiriya Kasyapa (which still continues to amaze engineers and intellectuals).

Hence this change agents can learn from success stories, be innovative, and adjust strategies accordingly. The organization may be capable of doing many different things with their resources. But there should be a change agent/s for any company to align the resources of the company and see the opportunities in the market. In this context, the way you incorporate LCI (Learning, Creativity, and Innovation) is paramount important(refer below diagram) You need to be more concerned about collaboration with the flavor of creativity and innovation. This is a testing period for all the businesses in Sri Lanka. You should learn success stories and there is a need to have learning orientation among all in business higher the creativity and innovativeness with customer orientation higher would be a competitive advantage for any business. (The writer is Professor in Management Studies at Open University of Sri Lanka You can reach Professor Abeysekera on [email protected].)

 


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