Surviving Strategies for Future A firm future depends on ability to cope with the changing competition in the gl obal

market and its ability to protects and enhance the core competencies. It is the necessities of today world to cutting down the cost, the two main process f ollowed are restructuring and reengineering. Whereas it also important to spend enough amount in development of core competences. Summary Business Practices which were used in in last deca des are not venerable now. It is very essential for a firm to restructure and re engineers the process used in the firms. Restructuring of a firm mainly focus on saving company budget by cutting overhead cost, discharging unwanted employees layers. While reengineering focus on the process used during development of prod uct. It is very important for a firm to practices these two process because it s upports them to stay ahead in competition but to become world leaders in the mar ket it is very important for a firm to improve their core competencies and conve rt them to core product line. Firm has to define their product line and then identify the core product, after the identification firm has to find different ways to enhances and collaborate t heir product line development around their core product. Core products developed from core competencies, these competencies focus on overall development of firm from corporate layer to production layers. These competencies improve existing product and show path for future product line. It is vital for a firm to identif y and make efforts on improving the core competencies rather than outsourcing th em, because this will lead to firm s downfall. Firm has to convert its core competen cies to core product and explore the competencies to find other opportunities av ailable to become the leaders in global market. When there is a global competiti on for leadership firm has to be good in core competencies, core product and end product. Developing a strategic architecture is important for firm because it preserves t he core competencies of firms form copying and provides future development scope . It provides a clear path for communication between top management and producti on managers by defining proper goals, resource allocation and priorities definit ion. It also provides the plan for development and rotation of employees. It is very important for firm to implement all these process for the overall developme nt of employees and organization. Reflection Restructuring and reengine ering help organization to cut down cost. This cash can be used in research and development of new product. Core competences help organization to innovate becau se; these competences help to identify the strength and weakness of a firm. Comp etences help firm to understand the customer needs because, they define the prod uct properly. It also helps to improve the business area by discovering the pote ntial market. Strategic architecture makes it difficut to imitate the process th at encourages other to develop new and refined process.