08 March 2012
MUSCAT -- The College of Banking and Financial Studies (CBFS) hosted a presentation on 'Strategic Adaptation to Environmental Turbulence: Failure, Survival or Success' by Dr Sarah Dixon, Dean of Bradford University School of Management, UK yesterday.
The presentation was attended by the banks' top management, alumni of the College and its students.
Dixon referred to her more recent research experiences in Russia and pointed out that change is difficult but a necessary concomitant to today's world of business.
The growth and sustenance of a firm depend on its perspective and attitude to change. "Be it any organisation, we need to develop a capability to adapt." said Dixon.
The style of adaptation will vary in different organisations, but the driving force behind the growth of a firm is its approach towards that change. Stepping into an area of uncertainty is scary but owing to the dynamic business environment, the opportunities to excel in their own areas are immense for every business operation.
Dixon stated that while the operational capabilities of business firms cause them to exploit their existing competencies, it is vital to develop their dynamic capabilities as well.
While developing new competencies, dynamic capabilities show the ability of an organisation to create, develop and deploy those skills. Businesses need to break with administrative heritage.
Acquiring the best practice is important, but to move ahead, businesses have to break the norm and the routine. Businesses require periodic paradigm shifts in thought and action. Risk of failure is the key factor that instills fear and hinders the process of change. Developing operational and strategic capabilities are the key.
Ali Hamdan al Raisi, Chairman and Dr Ashraf Nabhan al Nabhani, Dean of the College were present.
The college has a partnership with the University of Bradford for its Under Graduate programmes in Accounting and Finance and Business and Management.
MUSCAT -- The College of Banking and Financial Studies (CBFS) hosted a presentation on 'Strategic Adaptation to Environmental Turbulence: Failure, Survival or Success' by Dr Sarah Dixon, Dean of Bradford University School of Management, UK yesterday.
The presentation was attended by the banks' top management, alumni of the College and its students.
Dixon referred to her more recent research experiences in Russia and pointed out that change is difficult but a necessary concomitant to today's world of business.
The growth and sustenance of a firm depend on its perspective and attitude to change. "Be it any organisation, we need to develop a capability to adapt." said Dixon.
The style of adaptation will vary in different organisations, but the driving force behind the growth of a firm is its approach towards that change. Stepping into an area of uncertainty is scary but owing to the dynamic business environment, the opportunities to excel in their own areas are immense for every business operation.
Dixon stated that while the operational capabilities of business firms cause them to exploit their existing competencies, it is vital to develop their dynamic capabilities as well.
While developing new competencies, dynamic capabilities show the ability of an organisation to create, develop and deploy those skills. Businesses need to break with administrative heritage.
Acquiring the best practice is important, but to move ahead, businesses have to break the norm and the routine. Businesses require periodic paradigm shifts in thought and action. Risk of failure is the key factor that instills fear and hinders the process of change. Developing operational and strategic capabilities are the key.
Ali Hamdan al Raisi, Chairman and Dr Ashraf Nabhan al Nabhani, Dean of the College were present.
The college has a partnership with the University of Bradford for its Under Graduate programmes in Accounting and Finance and Business and Management.
© Oman Daily Observer 2012
