Topic > Rapid changes in technology - 533

Strategic planning involves determining in advance what an individual or organization wants to achieve within a specified period of time and identifying ways to achieve it. A strategic plan is basically a course of action used to achieve desired results. It means anticipating the future and having measures on how to grow in the future. Technology is a rapidly growing and changing macroeconomic factor. Technology has had positive effects worldwide on business organization and individuals. Organizations and individuals must strategically position themselves to take advantage of growing technology and gain a competitive business advantage (DeHaven 2010 pg 1). Technology has enabled globalization; where ideas, products and services were shared. This promoted foreign businesses thus helping several economies across the world. Several organizations and individuals have realized that technology will continue to grow and change and the best strategy will be to adapt rather than stick to rigid ways of doing things.....