Financial Crisis And Global Economy - 933 Words

Companies are facing a highly uncertain environment due to financial-crisis and global economy. Regardless high-competitiveness markets, organizations foresee as a priority become an intelligent enterprise leveraging people, process, data and technology through establishing strategic plans. The strategic planning is a complex process of collectivity efforts between executives, middle managers and employees. Organizations endure several factors during this practice depending of the maturity life cycle, complexity, sector and clear definition of the future stage. For some organizations â€Å"Getting Ready† could be challenging due to lack of leadership, which plays an important role and some visionaries assume as an obvious process for supporting and alignment, but if the leaders display less interest to change the mind-set; the strategic plan will not be articulated and deployed. Besides, leaders contribution and engagement for ongoing vision, vision, values and goals are crucial. Regardless the systemized chaos and knowledge rush in organizations, create a proper culture for paradigm change has become essential to enable the vision. If the organization does not visualize the goal in making real and tame the chaos, the uncertain will increase and the plan effectiveness decreased, and organization will struggle with quality, cost increase, low productivity, and facing instability. Another factor is employment engagement and clear communication, if the employees does not feelShow MoreRelatedGlobal Financial Crisis And Its Effects On The Global Economy1900 Words   |  8 PagesIntroduction The global financial crisis had a profound on the financial markets leading to recession in a majority of advanced economies and massive growth declines emerging and developing economies. A financial crisis occurs when disruption increases asymmetric information in the financial system affecting efficient channeling of funds (Mishkin Eakins, 2012). 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