Impact of environment on Strategy Formulation

Brief Profile of Speaker:

Mr. Anand Kumar Narayana

Anand is an MPhil in Management from Christ University, Bengaluru and a MA in Human Resource Management from Northumbria University (UK) with over 23 years of work experience. He has been conducting training workshops since 2006 and has been actively involved in the behavioral/management/leadership development training space since 2008. He has also been engaged as a guest faculty in educational institutions since 2009. Currently, he works as an Independent Consultant in the area of Learning and Development and is engaged with different organizations across industries like Pharmaceutical, Global Automotive, Global Banking, Global Rail and Air infrastructure, Online Retail, KPO, etc. He is continuously passionate about bringing a difference to people’s lives through structured knowledge dissemination and facilitation of active learning in his workshops, training programs, and classes.

Abstract/Snapshot: The session started at 02:00 pm with a formal welcome note by the Head of the department, Dr. Savitri Jayant. Ms. Sonia gave the formal introduction of the guest speaker who then took over the session.

Flow of the event: Formal Welcome note- Dr. Savitri Jayant

Guest Introduction- Sonia Chakraborty (Student)

                                Session Engagement

                                Q&A

                                Vote of Thanks- Khazi Mohammed Owais (Student)

Learnings from the event:

Mr. Anand started the session by talking about the impact that Covid-19 has caused on various businesses. Every single industry has experienced disruption, whereas the digital and pharma space has seen an immense growth.

Then he discussed the PESTEL Analysis and how the external factors influence and impact strategy formulation. He then walked us through the story of the automobile industry and the growth in E-commerce in India. Adversity gives a chance for opportunity and every business needs to be agile and cash on it.

Every business goes through the cycle of transformational change which includes the following steps:

  1. Disorientation- This stage is when there is a sudden shift in business and change strikes.
  2. Reorientation- This is the stage where the business starts figuring out how to live with the change.
  3. Integration- The final stage is about coming up with solutions. And how a business must adapt and adopt to the changes.

A few steps towards transformational change in business are to respond with agility and accelerate digital transformation. One must create a mindset of adaptability and build resilience. Efficiently use AI and IOT to build future sustainable strategies and redesign people strategy for an effective outcome.

Feedback from students:The students got an understanding on how different aspects of the dynamic environment influences and impacts a business during the strategy formulation.

Photos from the event:

About ISBR:

ISBR Business School, Bangalore-based, Top Class B School for PGDM or MBA, Consistently ranked as best B School in India, AICTE-CII Platinum Catagory, with multiple specializations.