PERCEPTIVE BUSINESS STRATEGIES IN THE 21ST CENTURY

Joseph G. dela Cruz

Society has changed a lot in the last few decades and this has spilled over into the world of business too. A couple of hundred years ago business was about finding out what society or the community needs, manufacturing and selling it. Today there is much more to it than that. Business now entails not only manufacturing and selling, but also advertising for the product and convincing the consumer to opt for your products and services rather than the competition. Often, businesses don’t just meet consumer demand, they create it. Especially this time of pandemic, people tend to see business as a significant way of living.

The business definition that was set forth years ago may have indeed changed by today’s fierce and competitive market. Running a business now has little in common with running a business 100 or even 20 years ago. New and emerging concepts are just now being studied. For example, the concept of employee satisfaction and its impact on business success has led to the emergence of the human resources department in any company.

These new concepts have changed the essence of business strategy. It is no longer about trading goods and services; the simple business definition has indeed changed forever. It can be difficult to pin business strategy down. In order to give a straightforward overview, we must consider that every decade business owner focused on what seemed important for them at the time. Looking into a brief history of business practices, we find that with every decade, priorities for business changed. With the eruption of free markets everywhere and the emergence of truly international business, owners began focusing on quality and how to make their products better than the competitor. Coming over to the 90’s the concept of lead time began to emerge. Businesses became concerned with how to get the product in the hands of the consumer as fast as possible.

Today in the 21st century all the business techniques are about offering more services and business innovations to existing customers. The emergence of online businesses has also changed the business landscape beyond recognition.21st century business strategy now has as much to do with portraying the right values to your customers as it does with creating the best products at the lowest price. With that in mind, let’s take a look in more detail at some of the concrete business strategies which lead to success in the modern age.

Business strategies and the people at the center is considering their self-motivation, leadership and your broader personal development personally fulfilling, it will ultimately be beneficial to your business, especially with regards to productivity and leadership skills. Nowadays, it is important to develop key skills, like Time management, Business development, Marketing and Soft skills.

The author is Teacher

--oOo-

III at San Vicente-San Francisco High School, Macabebe Pampanga