Developing a Dynamic Business Strategy: From Research and Goal Setting to Implementation and Evaluation

Nyakairu Byaruhanga K.

 Faculty of Economics and Management, Kampala International University Uganda

ABSTRACT

A dynamic company plan was essential for retaining competitiveness in today’s continuously shifting corporate climate. This review paper explored the effectiveness of combining continuous research, flexible goal formulation, agile execution, and continuing assessment to provide a strong framework for adjusting to market changes, technological breakthroughs, and competitive challenges. This review conducted a comprehensive evaluation of literature published using data from Scopus and Google Scholar. It employed thematic and meta-analytical methodologies to identify the key elements of dynamic strategy creation. The main discoveries consisted of the significance of using real-time data analytics to make well-informed decisions, the need for flexible goal-setting frameworks, and the advantages of Agile and Lean techniques in carrying out tasks. Furthermore, the implementation of ongoing evaluation and feedback processes was essential for improving tactics and maintaining a competitive edge. The review also highlighted problems such as the integration of real-time data, the establishment of flexible goals, and the promotion of organisational agility. Subsequent investigations prioritised examining the effects of developing technology and dynamic tactics on small and medium-sized firms (SMEs). This examination offered a thorough comprehension of how to manage and flourish in the current dynamic business environment by combining theoretical ideas and practical experiences.

Keywords: Dynamic Business Strategy Continuous Research, Flexible Goal Formulation, Agile Execution Ongoing Assessment, Real-Time Data Analytics, Agile Methodologies Lean.

CITE AS: Nyakairu Byaruhanga K. (2024). Developing a Dynamic Business Strategy: From Research and Goal Setting to Implementation and Evaluation. INOSR ARTS AND HUMANITIES 10(2):55-59. https://doi.org/10.59298/INOSRAH/2024/102.5559