Strategic management Essay Example | Topics and Well Written Essays - 2000 words - 20

Strategic management - Essay Example Instead, it has to adapt or speed up or change based on the constantly and rapidly changing business environment. There will be factors at â€Å"play† both in the external and internal environments of the organisations, and it is up to the organisation to play or function according to those factors. Although organisations may function or change based on those factors, it is of vital importance that how rapid and also how discontinuous those changes are. This is where the happening concept of rapid, volatile, discontinuous change comes into the picture. If an organisation initiates change management which is rapid and discontinuous, it can garner number of benefits for it, particularly strategic competitiveness in line with the strategic management process. It is imperative on the part of the organisational leaders or management or Chief Executive Officer (CEO) to initiate as well as manage this rapid, discontinuous change. So, the report starts by outlining the concepts of rap id, volatile, discontinuous change as part of literature review. Then, it will discuss where and how this concept fits within the strategic management process. Following that, the focus will be on the R.A.P.I.D, which can be used to assess the role, impacts and implications of rapid, discontinuous change for an organisation. The final section will focus on the role of CEOs during this change, particularly the ways they respond to the change as well as why they could not respond appropriately to the change during certain occassions. Organisations of contemporary times are operating in a dynamic business environment, and so they are bombarded by factors in its external and internal environment. Organisations need to initiate rapid and discontinuous changes on their part to match up with those internal and external changes. â€Å"This sort of rapid change can be triggered by major internal problems or by considerable external shock† (Todnem, 2005,