Discussion Forums: Future Global Business Environment And St

Discussion Forums: Future Global Business Environment and Strategic Management

During this course you have learned that the business environment is in a state of constant change and new circumstances will require new strategies and new approaches to implementing those strategies. Apply what you have learned as you discuss the following questions. Describe the global business environment that is likely to develop in the next ten years. Considering what you learned in the article, Sociocognitive Perspectives in Strategic Management in this week's required reading, which of the three topics areas identified in the article do you think is most influential to strategic management in KSA and why? Embed course material concepts, principles, and theories (which require supporting citations) in your initial response along with at least one scholarly, peer-reviewed journal article.

Keep in mind that these scholarly references can be found in the Saudi Digital Library by conducting an advanced search specific to scholarly references. Use APA style guidelines. You are required to reply to at least two peer discussion question post answers to this weekly discussion question and/or your instructor’s response to your posting. These post replies need to be substantial and constructive in nature. They should add to the content of the post and evaluate/analyze that post’s answer. Normal course dialogue doesn’t fulfill these two peer replies but is expected throughout the course.

Paper For Above instruction

The global business environment over the next ten years is poised to be markedly dynamic, driven by rapid technological advances, geopolitical shifts, and evolving consumer preferences. Several key factors will shape this environment, including digital transformation, increased globalization, sustainability concerns, and political stability in key regions. As technology continues to evolve at an unprecedented pace, industries worldwide will need to adapt to innovations such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT). These technological advancements will enable more integrated and efficient global supply chains, create new markets, and alter competitive dynamics (Porter, 2020).

Furthermore, globalization will expand as emerging markets continue to grow and integrate into the world economy. Countries like China, India, and members of the Gulf Cooperation Council, including Saudi Arabia, are expected to play increasingly significant roles. These shifts will necessitate strategies that focus on cross-cultural understanding, international cooperation, and flexibility in operations (Johansson & Wictor, 2021). Sustainability and environmental considerations will also become central to corporate strategy as consumers and regulators demand higher standards of corporate responsibility and eco-friendly practices. This trend will influence supply chain management, product development, and corporate governance worldwide (Elkington, 2018).

Political stability and regulatory environments will further influence the global landscape. Countries that provide clear, stable policies conducive to foreign investment and innovation will attract international businesses. Conversely, regions facing political unrest or unstable regimes may see companies re-evaluating their investments and strategies. In this context, strategic agility will be critical for firms operating internationally, requiring continuous environmental scanning and adaptive decision-making (Rugman & Verbeke, 2017).

Turning to the influence of sociocognitive perspectives, as discussed in Pfarrer et al. (2019), these theories highlight how social cognition, shared mental models, and organizational learning significantly impact strategic management. In Saudi Arabia (KSA), the socio-cultural context profoundly shapes strategic decisions, especially considering the Vision 2030 initiative aiming to diversify the economy. Among the three topics identified in the article—leadership perception, organizational identity, and strategic cognition—I believe strategic cognition is most influential in KSA’s context. This is because KSA’s rapidly changing economic landscape necessitates organizations to develop shared mental models that align with national ambitions while fostering innovation and adaptability (Alotaibi, 2020).

Strategic cognition involves how organizational members interpret environmental signals, shape strategic priorities, and coordinate actions to pursue common goals (Pfarrer et al., 2019). In Saudi Arabia, where government-led initiatives like Vision 2030 serve as catalysts for change, organizations must adapt their mental models to interpret a new economic order, cultural shifts, and technological advancements. This shared understanding facilitates cohesive action, innovative decision-making, and resilience in the face of uncertainty (Ghobadian & Gallear, 2018). Furthermore, as Saudi firms expand into global markets, embedding a collective cognitive approach enhances competitiveness and alignment with both corporate and national objectives.

In conclusion, the global environment over the next decade will be characterized by technological innovation, globalization, sustainability pressures, and political shifts. Within Saudi Arabia, strategic cognition will be especially crucial for navigating these changes, enabling organizations to develop cohesive mental models that support strategic agility and national development goals (Alqahtani & Alshammari, 2021). Embedding sound strategic cognition can thus serve as a foundation for sustainable growth and global integration in the Saudi context.

References

• Elkington, J. (2018). Triple bottom line reporting: Looking for increased visibility. Journal of Business Ethics, 77(2), 195-205.
• Ghobadian, A., & Gallear, D. (2018). Corporate strategy and organizational culture: An integrated approach. Journal of Business Research, 82, 247-263.
• Johansson, B., & Wictor, I. (2021). International Business Strategy: A Guide for Networking. Routledge.
• Porter, M. E. (2020). The five competitive forces that shape strategy. Harvard Business Review, 98(1), 78-93.
• Pfarrer, M. D., Devers, C. E., Corley, K., Cornelissen, J. P., Lange, D., Makadok, R., Mayer, K., & Weber, L. (2019). Sociocognitive Perspectives in Strategic Management. Academy of Management Review, 44(4), 767-774.
• Rugman, A. M., & Verbeke, A. (2017). Global corporate strategy. Routledge.
• Alotaibi, H. J. (2020). The Impact of Strategic Planning on Innovation in Saudi SMEs. UG Journal of Economics & Business, 29(1), 45-62.
• Ghobadian, A., & Gallear, D. (2018). Corporate strategy and organizational culture: An integrated approach. Journal of Business Research, 82, 247-263.
• Alqahtani, S., & Alshammari, T. (2021). Strategic agility and organizational resilience in Saudi Arabia. Journal of Strategic Management, 15(3), 215-234.
• Johansson, B., & Wictor, I. (2021). International Business Strategy: A Guide for Networking. Routledge.