-
Essay / The Rapid Change in Technology - 533
Strategic planning involves establishing in advance what an individual or organization wants to achieve within a specified time frame and finding ways to achieve it. A strategic plan is essentially a plan of action used to achieve desired results. This means anticipating the future and taking steps to evolve into the future. Technology is a rapidly growing and evolving macroeconomic factor. Technology has had positive effects on business organizations and individuals all over the world. Organizations and individuals must position themselves strategically to take advantage of growing technology and gain commercial competitive advantage (DeHaven 2010, p. 1). Technology has enabled globalization; where ideas, products and services were shared. This favored foreign companies, thereby helping different economies across the world. Different organizations and individuals have realized that technology will continue to grow and evolve and the best strategy will be to adapt it rather than sticking to rigid ways of working....