Implementation of a Strategic Plan, Research Paper Example
Words: 962Research Paper
Maturation of the social networking industry
As exemplified in part one of the assignment, the social networking industry is undergoing gradual change from one level of performance and exposure to the people to another. The world is getting dynamic each day. With the introduction of many facets, which make living cheaper and pleasurable, the field of social network has been on the frontline. Techno is the main machine, which stimulates changes in social network. Innovation and invention of new aspects of dealing with matter has completely transformed the way man lives and interacts with other members of the society. The modes of social interaction are shifting to online facets, which makes use of the internet. It is not necessary that people meet physically in order to communicate. This is happening with use of gadgets as telephones, computers, and many other technological gadgets. The social modes of communication have created a link or connection between people from everywhere in the world (Alston, 2011). With time, this has resulted in what is termed as the social media. With a matured social media industry, people are able to interact, engage, exchange goods and substances, and do many other things through the influx of technology in the world. Therefore, the social media has matured from the old slow, ineffective, and problematic endeavor to the modern lively, effective, cheap, and global aspect.
How websites or companies are adjusting to the maturation
Companies are adjusting to the effects of social network maturation in various perspectives. The embrace of the new technology is a one way in which the social media has participated in transforming the influence and usefulness of the social media industry. Many company and website activities make use of the social networking protocols. For instance, marketing of products and services is done using the technology realized from the social networking systems. Companies are adopting every skill and facet, which tries to link between the past and the present state social media industry. For instance, many industries are shifting to the use of digital gadgets since this is the only way, which the social network industry is operating. Websites embrace the same by involving and shifting their clients and activities to the digital network systems. Moreover, websites and industries are educating their clients on how to embrace the new models and products offered by the industry through the social networks as Twitter, Facebook, and YouTube (Bryson & Farnum, 2010).
Current trends of strategic management in the social network industry
In the social network industry, various trends of strategy management are being replicated. The social network system is shifting from the old analogue systems to a new one in the name of digital system. Many strategies are directed at establishing the best way in which trends of change are gradual with coincidence of every happening that takes place in the market. Human interaction is turning out to be rapid. As a result, every activity, which entails exchange of information, is becoming swift every day. Technology is taking the social industry by a great fleet in that every new mechanism realized becomes outdated even before it gets to the people. Technology in the world is taking place at a high pace, not leaving behind every activity concerned with the social network industry.
How maturation of the social network industry globally could influence my future business strategies
My future business strategies on Pharmaceutical Company will be affected clearly by the maturation of the global social network. With the pace of maturation in the social network industry, strategies laid out should be flexible to these changes. This has transformed the manner in which I put down every strategy needed for carrying out activities in Pharmaceutical Company. Long-term strategies have to coincide with the future happenings as concerns the social network industry. For instance, when manufacturing pharmaceuticals for the future, their modes of use and reaction should coincide with the future perspectives of the technology, which was used to manufacture them. Therefore, short term and long term strategies are slowly getting integrated into the plans and strategies of the social networking systems in pace. When establishing future strategies, care has to be taken in order to ensure that they are in accordance with the future trends of the social network systems (Fogg, 1999).
A new strategy to help my company (Pharmaceutical Company) in future in regards to maturation
In regards to the rate of maturation of the social network industry, it is important to embrace every facet that is bought by the industry since this happens to be the only way to achieve to the changing needs and preferences of the people. Policies should be formulated in order to cater for every individual who makes use of the social networks and expects to access the necessities from Pharmaceutical Company (Anderson & Farnum, 2011). This is important in ensuring that growth and development of the company has been kept at pace with the rate of growth of the social network industry.
How the new strategy will help the company with competitive advantage and differentiation
With the implementation of the new strategy, Pharmaceutical Company will be able to remain in bar with the social network industry through every change in the market. Clients of the company will be able to access every good and service offered by the company through the social network channels of communication. Furthermore, the company will be able to attract more clients who make use of the various channels of the social network industry.
Alston, M. (2011). Creating Your Strategic Plan. New York: John Wiley & Sons.
Anderson, S. & Farnum K. (2011). Implementing and Sustaining Your Strategic Plan. New York: John Wiley & Sons.
Bryson, M. & Farnum K. (2010). Creating and Implementing Your Strategic Plan. New York: John Wiley & Sons.
Fogg, D. (1999). Implementing Your Strategic Plan. Chicago: AMACOM.
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