business strategic management

The corporate world was once preoccupied with an efficiency approach for their business instead of adapting strategic planning from what they had started from the past. The business world was once into improving quality, restructuring, downsizing and reengineering instead of hatching new products, expanding existing business and creating markets for tomorrow (Byrne par. 3). In other words, businesses were once not certain with their directions and not sure about where they were heading forward. They were enticed with their efficiency approach which was trying to promise them higher revenue and profit.