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The 21st century heralds business opportunities that transcend global barriers The world witnesses volatile business models - what seems strategically appropriate today may be considered passe or inapplicable in a matter of months Before progressing further let us focus on the central task of critically analysing the statement at hand In a fast changing world where businesses are benefited by external forces managers need to be enabled to respond capably to keep the company on track and to meet its objectives They must be outwardly focused aware of important trends that will impact on business or industry They need to be opportunistic aware without loosing the inwardly looking focus on doing things better and responding to threats The underlined wordsphrases draw ones immediate attention and social scrutiny The interpretation of the word fast has been exchanging over time periods Circa 1900s fast change was deciphered as a change over a period of 10 years or so As technology and society developed around the 1950s fast change was relative to a change which occurred in 3-4 years The last decade of 20th century witnessed a proliferation of scientific technologies and business trends and scenarios could alter in the matter of months The world in the 21st century promises to be more dynamic than ever before and the term fast shall invariably be redefined to a much shorter time-span than hitherto In essence business managers need to be aware that it is imperative to be on their toes so to speak and preempt the expectations and demands of the fast changing business environment The phase from the topic businesses are benefited by external forces is controversial and debatable It is agreed that the changing environment throws up opportunities for organizations to exploit It is also agreed that if an organization exploits these opportunities then it can benefit The assumption thus in the phase is that the organization will exploit the opportunity
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