...Session 2 : Foundations of strategic marketing Can you say what your strategy is? Companies that don’t have a simple and clear statement of strategy are likely to fall into the category of those that have failed to execute their strategy or those that never had one. Often many employees are frustrated that no clear strategy exists for the company. Leaders of firms assume that the initiatives described in the documentation that emerges from an annual budget or a strategic planning process will ensure competitive success; they fail to appreciate the necessity of having simple and clear strategy statement that everyone can internalize and use. A well understood statement of strategy aligns behaviour within the business: it allows everyone in the organization to make individual choices that reinforce one another. With a clear definition an executives know what they’re trying to create and implementation becomes simpler as the strategy can be communicated and easily internalised. Most executives don’t actually know what all the elements of strategy statements are, which make it impossible for them to develop one. Mike Rukstad identified three components (objective, scope and advantage) of a good strategy statement and believed that executives should be forced to be clear about them. Any strategy statement must begin with a definition of the ends that the strategy is designed to achieve; the definition of the objective should include not only an end point but also a time...
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...Evaluation of Alternatives and Recommendation to Management 6. Appendix – Used for exhibits such as pro-forma income statements and other detailed analyses. The Case Analysis Framework The case analysis framework presented here is a synthesis of the frameworks used by your professor and other marketing professors who use case analysis in their courses. It will provide a solid structure to organize the diverse information presented in a case. As you work your way through this framework, or a similar approach to case analysis, we offer the following hints to increase your probability of success: 1. No one can analyze a case after reading it only one time, or even worse, doing the analysis during the first reading of the case. You should read through the case once just to get an understanding of the nature of the case. During the second reading, you can begin to structure and classify the issues as they appear. A truly comprehensive case analysis will probably require at least three readings. 2. Don’t get trapped into thinking the “answer” to the case is hidden somewhere in the case text. There is never a single answer to a case just as there is never a single marketing strategy that is appropriate for all situations. Each case is unique. Looking for tricks or shortcuts is not appropriate. 3. Make an effort to put yourself in the shoes of the decision maker in the case. The use of role-playing as part of the analysis can be very useful. It helps you gain some feeling...
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...How to Analyze a Case An Introduction to the Case Method For many of you, this will be the first course using cases that you have ever taken. The fact that this form of learning is new to you will naturally cause you some concern, and early on, some difficulty. Cases give you the chance to look at the present situation facing an organization, and after a systematic analysis, make recommendations that will produce a change in the results or outcomes. While you cannot be certain what that outcome will be, through the discussion and critique of your suggestions by fellow students and your professor, projections can be made about the foundation for the probable success of your recommendations. In this course you will have the opportunity to see how well you can assess and address a business issue or problem. The role of the case is to provide you with the opportunity to utilize the knowledge you have gained to this point to evaluate and make recommendations to enhance the performance of real organizations. This is not a substitute for real world experience in a job with an organization, but it is the type of learning that helps prepare you to begin using the business knowledge you have acquired. Analysis Frameworks There are several benefits in having a framework to use for analyzing situations. The first is that a framework provides comprehensive coverage of the topics and issues involved. Without a framework, the analyst may overlook some issues. For example...
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...Why Organizations Must Secure Continual Resources By Kai McLemore Columbia Southern University MBA6001 Abstract If an organization is going to succeed, it must depend upon its resources, core competencies, and capabilities. These just happen to be the foundation of competitive advantage. The organization’s resources are structured towards organizational capabilities. This paper will discuss how an organization must compete for resources along with the concerns and cost of securing these resources. This paper will also cover how resource attainment differs with the organization itself, and not set on one set of standards, to include the organization’s environment. An organization’s success will depend on a variety of things but heavily relies on three main areas of concern; resources, core competencies, and capabilities. These are the base of any organization’s competitive advantage over their adversaries. These capabilities are the baseline of the organization’s core competencies which will ultimately put the organization ahead in the competition (Dess, Lumpkin, & Eisner, 2009). The invention of competitive advantage establishes that most important aspect of competition is ultimately related within the leadership of organizational resources. The word resource covers a wide range of social, organizational, and individual sensations. When an organization relies solely on resources, they are failing themselves. Resources itself does not lead toward an advantage...
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...Ziglar has said, “You cannot make it as a wandering generality. You must become a meaningful specific.” A mission statement is only a paragraph long, but it has specific, measurable outcomes and a deadline for accomplishing that outcome. It’s truly the best way to start your journey to success. Mission statement A mission statement is a statement of the purpose of a company or organization, its reason for existing. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." Definition: A written declaration of an organization's core purpose and focus that normally remains unchanged over time. Properly crafted mission statements (1) serve as filters to separate what is important from what is not, (2) clearly state which markets will be served and how, and (3) communicate a sense of intended direction to the entire organization. Effective mission statements start by cogently articulating the organization's purpose. Mission statements often include the following information: Aim(s) of the organization The organization's primary stakeholders: clients/customers, shareholders, congregation, etc. How the organization provides value to these...
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...OPERATIONS, STRATEGY AND OPERATIONS STRATEGY INTRODUCTION An organization’s operations function is concerned with getting things done; producing goods and/or services for customers. Chapter 1 pointed out that operations management is important because it is responsible for managing most of the organization’s resources. However, many people think that operations management is only concerned with short-term, day-to-day, tactical issues. This chapter will seek to correct that view by considering the strategic importance of operations. All business organizations are concerned with how they will survive and prosper in the future. A business strategy is often thought of as a plan or set of intentions that will set the long-term direction of the actions that are needed to ensure future organizational success. However, no matter how grand the plan, or how noble the intention, an organization’s strategy can only become a meaningful reality, in practice, if it is operationally enacted. An organization’s operations are strategically important precisely because most organizational activity comprises the day-to-day activities within the operations function. It is the myriad of daily actions of operations, when considered in their totality that constitute the organization’s long-term strategic direction. The relationship between an organization’s strategy and its operations is a key determinant of its ability to achieve long-term success or even survival. Organizational success is only likely...
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...departments and divisions fit into the whole organization. 3) An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses. 4) Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage 5) The basic premise of the research-based view is that the mix, type, amount and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage. 6) The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture. 7) Cultural products include values, beliefs, stories, and language. 8) Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail. 9) A ritual is a standardized, detailed set of techniques and behaviors used to manage anxieties. 10) For a resource to be valuable, it must be either rare, hard to imitate, or not easily sustainable. 11) Linkages between a firm's culture and strategies often determine success. 12) Resources that are common are never considered valuable. 13) The RBV theory asserts that it is advantageous for a...
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...CHAPTER 2 OPERATIONS, STRATEGY AND OPERATIONS STRATEGY INTRODUCTION An organization’s operations function is concerned with getting things done; producing goods and/or services for customers. Chapter 1 pointed out that operations management is important because it is responsible for managing most of the organization’s resources. However, many people think that operations management is only concerned with short-term, day-to-day, tactical issues. This chapter will seek to correct that view by considering the strategic importance of operations. All business organizations are concerned with how they will survive and prosper in the future. A business strategy is often thought of as a plan or set of intentions that will set the long-term direction of the actions that are needed to ensure future organizational success. However, no matter how grand the plan, or how noble the intention, an organization’s strategy can only become a meaningful reality, in practice, if it is operationally enacted. An organization’s operations are strategically important precisely because most organizational activity comprises the day-to-day activities within the operations function. It is the myriad of daily actions of operations, when considered in their totality that constitute the organization’s long-term strategic direction. The relationship between an organization’s strategy and its operations is a key determinant of its ability to achieve long-term success or even survival. Organizational...
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...academicians, researchers and practitioners basically paid very little attention to the practical concepts of strategy developed and embraced during the war. After normalcy and stability was achieved most business persons and investors started focusing and laying more emphasis on efficient and effective production in order to restore what was lost during the war. Consequently, production firms and organizations moved and shifted from an emphasis on operations, budgeting and controlling areas to more emphasis on planning aspects (Freeman, 2010). This arose as result of the dynamic environment that businesses were operating in and the urgent need for solutions which eventually demanded future planning taken at a larger perspective and view. This led to many businesses requiring the urgent need of having a corporate policy. With these, the seminar work of Chandler of 1962 placed and positioned the concept of strategy as a unique business function from marketing, sales, finance and production. In this case strategy was defined to comprise and involve planning on the long term goals of an organization (Freeman, 2010). It can be noted that during the 1960s, two authors made great and significant contributions towards the development of strategic management. They include Igor Ansoff and Chandler. Ansoff argued that strategy is a rule for making decisions determined by an organization’s...
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...departments and divisions fit into the whole organization. 3) An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses. 4) Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage 5) The basic premise of the research-based view is that the mix, type, amount and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage. 6) The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture. 7) Cultural products include values, beliefs, stories, and language. 8) Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail. 9) A ritual is a standardized, detailed set of techniques and behaviors used to manage anxieties. 10) For a resource to be valuable, it must be either rare, hard to imitate, or not easily sustainable. 11) Linkages between a firm's culture and strategies often determine success. 12) Resources that are common are never considered valuable. 13) The RBV theory asserts that it is advantageous for a...
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...Marketing Strategy of Apple Computers Inc. Introduction Marketing Strategy of Apple Computers INC. Introduction Apple was founded by Steven Jobs and Stephen Wozniak in 1976; Apple computer Company revolutionized the personal computer industry and brought forward the expansion of the clean industry within the New West. Situated within California, the company’s initial product was the Apple I, a single-board processor with on-board storage (ROM), that was marketed for approximately $650 not including a monitor or keyboard. Orders instantly soared, and Jobs and Wozniak quickly brought out the Apple II, including a keyboard, color monitor, and expansions for peripheral devices (Birzer & Schweikart 2003). In 1984, Apple introduced the Macintosh that was aimed toward the business and education markets, by which era the corporate had already not only modified the American market but had reshaped entire areas of the West around silicon. In 1996, after a series of CEOs did not keep Apple profitable, Steve Jobs came back to the company for an interim period as corporate executive and shortly launched a brand new promoting and licensing relationship with Microsoft. In 2000 his direct sales idea, the Apple Store brought the business back into the black (Birzer & Schweikart 2003). In 1994 Apple computers launched a brand new line of computers that supported the PowerPC processor chip. The creation of the new chip was a venture between Apple Computers, IBM, and Motorola, and since the...
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...Chapter Two – What is Marketing Management and what do product managers and marketing managers do? The Meaning of the terms Marketing Manager and Marketing Management Traditionally if a person had the title of “manager,” it meant that s/he had the responsibility to help guide the activities of at least a few employees. While this terminology has changed over the years, we still consider someone who has the title of ‘manager’ to be responsible for overseeing the allocation of resources for the organization. For example, as an ‘individual contributor’ I might have the responsibility of performing certain work (for example, writing marketing literature for the firm’s products), but not be responsible for the activities of anyone other than myself. In high technology industries, the word manager is often replaced with “Director” to indicate that a person has primary responsibility for a certain organizational function. For example, the ‘marketing director’ may be responsible for all marketing activities in the firm. At other firms, the term ‘marketing manager’ would be used to describe the same thing. In some organizations, the Vice-President of Marketing may perform the same functions. The term Product Manager is often used in high technology industries to assign responsibility to a specific individual or group for the successful supervision of all marketing activities related to a specific product or service. Sometimes the product manager’s responsibility is defined...
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...MANCHESTER COLLEGE OF HIGHER EDUCATION AND MEDIA TECHNOLOGY Strategic Business Management and Planning INTRODUCTION STRATEGIC BUSINESS MANAMGEMEMT The way that a strateg ic plan is developed depends on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization, expertise of planners, etc. For example, there are a variety of strategic planning models, including goals-based, issues-based, organic, scenario (some would assert that scenario planning is more of a technique than model). PROFIT AND NON PROFIT ORGANISATION (L O1) When an organization tries to realize better its central mission, it is often important to maintain both line and staff units' integration with the central mission while flexibly and innovatively responding to evolving and changing external markets and environments. Small non profits and small for-profits tend to conduct somewhat similar planning activities that are different from those conducted in large organizations. On the other hand, large non profits and large for-profits tend to conduct somewhat similar planning activities that are different from those conducted in small organizations. The scheduling for the strategic planning process depends on the nature and needs of the organization and the its immediate external environment. For example, planning should be carried out frequently in an organization whose products...
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...Kudler Fine Foods Marketing Research University of Phoenix Christy Holley Kudler Fine Foods Marketing Research Kudler Fine Foods, a gourmet grocery store, needs to expand its services, improve operations efficiency and increase its consumer purchase cycle due to its recent significant growth. Marketing research in developing Kudler’s marketing strategy and tactics is important. Areas where marketing research is needed and other issues affecting such research at Kudler’s include advertising methods, consumer buying behaviors and demographics, funding, branding strategies and competition aspects. Knowing Kudler’s competition and the competitive environment is essential to their marketing strategy and methods of how Kudler should gather and analyze information about their competition will be reviewed. Importance of marketing research Marketing research is important for Kudler Fine Foods to have a successful marketing strategy and for the company to remain strategically successful in the grocery store market. Research helps determine what demographical audience is appropriate for its products. Finding the right target market is essential in developing a company’s strategic and marketing plans, especially for a gourmet grocery store like Kudler’s. Research will be the backbone that makes those plans grow. Market research will also let Kudler know who its direct competitors are and what advantages the company may have over them. Whole Foods, Trader Joes, small...
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...1 Student: ____________________________________________________________ ___________________________ 1. Which of the following does not represent a main focus of cost management information? A. B. C. D. E. Strategic management. Performance measurement. Planning and decision making. Preparation of financial statements. Internal auditing and control. 2. Strategic management can be defined as the development of a sustainable: A. B. C. D. E. Chain of command. Competitive position. Cash flow. Business entity. Company image. 3. Cost management has moved from a traditional role of product costing and operational control to a broader strategic focus, which places an emphasis on: A. B. C. D. E. Competitive pricing. Domestic marketing. Short-term thinking. Strategic thinking. Independent judgment. 4. All of the following are examples of total quality management practices except: A. B. C. D. E. Redesign of a product to reduce its parts by 50 percent. Reduction in the movement required in a manufacturing job. Separating the sales and services functions. Raising raw material quality standards. Cross-training assembly line workers to cover sick leave absences. 5. In a local factory, employees are rewarded for finding new and better ways of changing the way they work. This company is motivating its employees to use what management technique? A. B. C. D. E. Benchmarking. Activity-Based Costing. Theory of Constraints. Continuous Improvement. Total Quality Management. 6. A...
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