Business strategy itself is a complex area and when
pitted against geoeconomics it is confusion confounded. However, there is always light at the end of
the tunnel. To get there we need the fundamentals straightened. Let me explain
briefly the topics business, strategy and geoeconomics.
Business relates to any undertaking
carried out by a state, state sponsored entity or privately incorporated company
or firm that seeks to
create, deliver and capture value in a chosen sector.
Strategy is all about selecting the right
ways to achieve proposed ends utilizing available means. A significant point in
the evolution of strategy is how it functions in the concept, policy and strategy syndrome. Please note
that everything begins with a concept, in this case it is the business concept
that begets policy. Once a set of business policies is identified then it
begets the business strategy as a final outcome. Formulation of any strategy must
lead to the execution part of it and thereafter evaluation enters the scene in
order to determine success or failure of business strategy.
Geoeconomics is the bedrock that influences
how a strategy is formulated, executed and evaluated.
Navigating business strategy amid geoeconomics pre-empts moves and manoeuvres
that are to be made by companies & firms after conducting astute analysis
in terms of international relations between and amongst allies and enemies.
One good illustration is how European firms are
failing to get their acts together in the US-China rivalry on the one hand and
Global West-Russia confrontation on the other. German car industry is an apt example that is struggling
to reconcile its goals and objectives with the geoeconomics environment prevailing
amongst the three major powers: America,
China and Russia.
Look forward to your point of view on my take!
Cheers!
Muthu Ashraff Rajulu
Business Strategist
Mobile: + 94 777 265677
E-mail: cosmicgems@gmail.com
Blog: Business Strategist
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