Integrative Seminar Week 12

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For week 12 we had to finalise our 5 inquiry questions for the element chosen. I chose strategies as my element. Here is the first draft of my 5 question.

1. How did industrialization affect the overall business strategies at that time and changed them in an evolutionary manner ?
2. How will the business strategies be formed when development and innovation is to be used as one for the transformation of a product?
3. How has the enormous and constant change in technology stroked on to the business strategies to change themselves?
4. Cost of productions is majorly affected by the production techniques of a company, how does this influence the business strategies?
5. In what manner are the business strategies to be modified when a company adds on the online platform for it’s customers?

After taking the review from the faculty of both seminar and studio, I rephrased my first question by taking into consideration the current global situation and not what something that happened in the past. The rest of the question were considered to be alright. Here is my rephrased question:

How has covid-19 affected the business strategies today in terms of modification and
what impact have these modifications made?

Building up questions wasn’t really easy. It took a little time and a lot of research. Strategies being a vast element, many factors were to be taken into consideration. For me the most interesting questions were the 1st one and the 5th one. The first one is comes out of the global crisis in which we all stand today and have to fight. It is very much considerable when it comes down to the element, strategies, as this was an unexpected situation and has shaken us down to our souls, a lot of changes have been made in the business’ strategies. Also, it also reflects on what future strategies we work on to be prepared for such an undesirable event. While, the second question is in a lot different context, it is more focused on the overall working of the business instead of a crisis. In the modern world, a lot of business’ are moving towards the online platform of the markets. It is not quite easy in today’s competition in the market to earn you place in the vast emerging market and different sorts of strategies, designed precisely is what will help one.