Index IntroductionThe strategic exploitation of new opportunitiesStakeholders and other companiesConclusion and suggestionsIntroductionThe purpose of this memo is to discuss the key components of the first chapter of Anne Sigismund's Strategic Plan Huff Logic and management action. The memo will focus on the various ways through which an organization can position itself to increase its profitability and growth. With reference to a case study by Joanne Snider, the memo will draw conclusions about the weight of the ideas demonstrated by Sigismund et al and their practicality in the modern world. The note will also explore the importance of good strategic planning with respect to NCB Capital and its success as one of the largest conglomerates in the Kingdom of Saudi Arabia and the world. Here, the memo will look at various important aspects of strategic planning that have allowed companies like NCB Capital to thrive while others fail. The note will refer to an article in the business section of the Saudi Gazette regarding NCB Capital and its award by the World Finance Magazine in the year 2017. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay For any organization to achieve success, it is critical to create a strategy that enables it to do so. To survive, businesses must ensure they consistently make profits and pay their bills effectively. According to Sigismund et al., an effective organizational strategy must efficiently achieve a number of objectives simultaneously. These goals include the following: Be able to adapt to environmental change Earn more money and resources than expenses Clearly communicate the organization's purpose and vision Use the organization's strengths to meet the needs of the environment Explore new opportunities in the environment Creating a strategy that covers all these aspects can significantly increase a company's chances of profitability and, consequently, growth. Furthermore, companies must be flexible in their strategy to constantly change with the environment around them, otherwise they may become irrelevant. NCB Capital has steadily evolved over the years to become the number one international asset manager that adheres to Sharia law (NCB Capital 'Best Investment Management Co. (Equities)'). It is therefore a good example of a company that demonstrates the effectiveness of these strategies. From the Saudi Gazette article we learn that “The World Finance Investment Management Awards”, received by NCB Capital in 2017, is an award that recognizes forward-thinking and resilient organizations that, through hard work and appropriate strategy, have outperformed their competitors . It's clear that the organization has made great progress and embraced new ways of doing things. For example, the CEO of NCB Capital, as seen in the article, is Sarah AlSuhaimi, a woman. This in itself is evidence of an organization's adaptability to changing times. In the past, Saudi Arabia has had a reputation for oppressing women and not allowing women to work, own property or drive, among other things. However, here, we see a forward-thinking culture in the organization, as is evident in the act of a large Saudi company appointing a female CEO of a company with assets of over 140 billion Saudi Riyadh. Here it is clear that through the adaptability and success of NCB Capital the sense of the ideas demonstrated by Sigismund et al can be seen applied practically. In the chapter on the definition ofstrategy, Sigismund et al discuss how an effective business strategy should be able to respond to changes that occur over a period of time. In the case of NCB Capital, it is clear that the company is ready to respond to changes and therefore remains relevant and is able to tap into the best human resources by breaking limiting barriers such as gender. Strategy Coordination and Interaction with Others In the age of technology, social media and globalization, starting a new business has become increasingly easier. With just one click of a button you can buy or sell products on all continents. This led to a large economic boom that steadily increased the number of people belonging to the upper-middle class. Indeed, doing business has never been easier than it has been over the past three decades. At NCB Capital, technology and globalization have played a key role in its success. With branches around the world and stock trading companies, the NCB is benefiting greatly from the Internet age and globalization. Furthermore, the company specializes in providing funds for businesses and individuals through loans in compliance with Sharia law. On the other hand, statistics suggest that 20% of businesses fail within the first two years of their launch and that a further 50% fail within the first five years. These statistics are in stark contradiction to the prevailing circumstances, such as the ease of access to loans and financing, the ease of access to technology and the Internet, as well as the availability of free information on the Internet to assist start-ups in their business venture. Therefore, living in the era of technological progress and globalization does not automatically guarantee success. These statistics highlight the importance of having an effective business strategy. Strategically exploit new opportunities According to Sigismund et al, customers do not focus entirely on international goods and services that globalization takes advantage of, but support both local and international brands. Therefore, it is crucial to position yourself strategically and quickly spot opportunities when they arise. A good business strategy must be able to identify a need as it arises and provide a solution to that need effectively and without wasting time. NCB Capital's success is a good example of a company using a good strategy. In 2017, the company received an award from World Finance Magazine. NCB Capital was pioneer in its efforts as it quickly studied people's needs and moved quickly to provide solutions to those needs. In 1978, the organization became the first of its kind by providing a mutual fund. Furthermore, NCB Capital was the first to provide Sharia-compliant funds and banking services in Saudi Arabia in 1987. Here it is clear that the organization saw a need in Islamic society and moved to solve that problem without wasting any time. In this way, NCB Capital was able to fully exploit a market that was untapped at the time. Sigismund and colleagues believe that the success of a business strategy depends largely on the internal and external environment of the organization or company. In Joanne Snider's research, it is clear that companies fail due to inadequate strategy and poor consideration for the environment and in particular the external environment of the company, which confirms Sigismund and colleagues' belief that A good strategy connects a company's strengths with the opportunities available in its environment. In his research, Snider reveals that the success rate of companies depends largely on their ability to market themselves.