Research Journal of Economics & Business Studies - RJEBS - The ...

Importance of technology, innovation and R&D
Yes
Most of …
Average
Renewable energy
Telecommunication
Partially
No
0% 10% 20% 30% 40%
The renewable energy sector are the prime followers of this idea, therefore a high percentage of the
managers and entrepreneurs deeply agree to the question. They believe that there core competencies
and source of power is their ability to innovate. Therefore, a successful business strategy in their
perspective depends on its uniqueness. The telecommunication respondents deliver the message that
business strategies must be formulated considering the present capability of the resources, both human
and capital.
4.3 Question: How much will you rate the importance of new tools of strategy formulation relative to
traditional internal and external audits?
Importance of new tools for strategy formulation
50%
40%
30%
20%
10%
0%
45%
35%
32%
20%
19%
16%
10%
12%
8%
3%
Very Low Low Medium High Very High
Telecommunication
Renewable energy
Respondents of the telecommunication sector show their dependence on the existing tools of strategy
formulation. It is clearly seen from the above diagram that individuals of both the field hugely depends
on traditional mechanisms of strategizing. However, the shift of renewable entrepreneurs is towards
understanding the new perspectives of strategy making. It can be understood that although they want to
utilise new tools, methods and processes, they are unaware of the emergence of recent concepts such
as the blue or green ocean strategies ‘four action framework’ or the ‘strategy canvas’.
www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 26