Why Business Strategies are lagging behind in Saudi Arabia?
In Saudi Arabia, small business are slow to adopt and execute business strategies due to
which they are lagging behind. There could be two possibilities behind this issue, either
the companies find it difficult to adopt them or find them inappropriate for their
businesses.
The barriers identified for this emerging issues could be:
•Inappropriate understanding of strategies is one of the primary barrier in which
companies mostly have a strategy but less than 5% of employees know about their
strategy.
•Poor implementation of strategies usually results in failure and it is said that over
90% of strategies fail because of poor implementation.
•The companies and employee are resistant to change due to which business
strategies are not implemented.
•Employees do not take interest in their tasks and they are not committed to
company’s goals. Unluckily, employees use up 90% of their time as compliance
instead of commitment which shows that they are not engaged with their work and
results in unnoticeable improvement in the work.
Where the advent of internet has created a number of opportunities for the entrepreneurs
such as they can do business through internet, globalization has eliminated the boundaries
between the countries and now they can do business around the world, technological
innovation is another factor giving rise to entrepreneurial activities, various problems have
also emerged in the form of fluctuating currency rates, increasing competition and
workforce diversity. Small companies working in Saudi Arabia are also vulnerable to
global competition even if they do not have any global operations. So, the companies are
