The document discusses various strategic management tools and concepts including:
- Types of business strategies such as market penetration, product development, diversification, and integration.
- Analytical tools for strategic analysis including SWOT, BCG matrix, SPACE matrix, IE matrix, and Grand Strategy matrix.
- The process of setting strategic objectives including making them specific, measurable, achievable, realistic, and time-bound. Examples of strategic and financial objectives are provided.
Management Strategy: The Core Competence of the Corporation.
Based on Harvard Business Review with same title article written by C.K. Prahalad and Gary Hamel
Strategy framework including 3 stage of strategy choice which is input stage, matching stage (swot matrix, space matrix, bcg matrix, gap analysis, grand strategy mix, ge matrix) and decision stage (qspm). also include be cultural aspect of strategy choice
Management Strategy: The Core Competence of the Corporation.
Based on Harvard Business Review with same title article written by C.K. Prahalad and Gary Hamel
Strategy framework including 3 stage of strategy choice which is input stage, matching stage (swot matrix, space matrix, bcg matrix, gap analysis, grand strategy mix, ge matrix) and decision stage (qspm). also include be cultural aspect of strategy choice
The “Blue Ocean” approach is a strategic tool that helps innovation strategists’ asses current and desired future strategic states whereas..Red Ocean is a current state.
There are a multitude of risks and issues for corporations and.docxssusera34210
There are a multitude of risks and issues for corporations and industries
operating in the international environment. No doubt, issues such as
inferior quality of products manufactured by companies that engage in
outsourced production, or the use of chemicals in the manufacturing
process of edible products imported back to the U.S., which our regulatory
system considers toxic and which are regulated against within our own
borders. These types of issues can result in a tremendous impact to a
corporation's bottom line, from the financial impact to sales to brand
damage that diminishes their reputation in the marketplace.
Why does a company need to grow?
Suppose you started a company using an innovative product idea you
designed and your corporation was the first one to market and sell this
exciting new product in your home country. Sales immediately took off and
your company found itself growing and branching out in cities all across
your nation. Soon, competitors followed your leadership position, chasing
your market and successfully absorbing some of your sales. In order for
your firm to remain the leader, or to even continue to survive, you would
need to develop strategies that allowed your firm to continue to grow its
market share. If you failed to maintain your market position, over time you
could lose enough of your customer base so as to become unable to
financially continue to stay in business. Not only would you close your
doors, but your employees would lose their jobs.
Corporations spend a large amount of time developing strategies that allow
them to remain competitive in the marketplace, earning profits and re-
investing them into the business in order to grow. When a firm reaches a
saturation point in its home market, one strategy it can deploy to remain
profitable is to move into the global marketplace. The key to remaining
competitive is to constantly, and continually, innovate. For global firms,
innovation is exponentially more challenging.
Profit and Loss - What are they and how do
they impact global strategies?
In order to develop sound global strategies, it is critical to understand
profitability. Simply put, profitability means the degree to which a
corporation has been successful at earning revenues and managing
expenses. The difference between its revenue and its expenses is called
the net profit and the ratio of net profit to revenue is called a net profit
margin. Net profits and net margins are tracked and monitored carefully by
a firm's finance department, along with all other financial data Net margins
reflect how much of each dollar earned by the company has been
translated into profits and is determined by dividing the net profit by
revenue.
While some industries operate on very low, or thin, margins, others operate
on much higher margins. Understanding a firm's finances and industry
profitability norms, assists financial experts in assessing the health of the
firm, a ...
Rodney Lawrence Chapter 16 Marketing Strategy involves a sel.docxdaniely50
Rodney Lawrence
Chapter 16: Marketing Strategy involves a self-analysis and a reflection of the strengths and weaknesses of the company as established by the dashboard indicators. This involves reflecting on possible changes to target segments, price, place, and promotion, with the ultimate goal of increasing profitability in the company (Iacobucci, 2018). One of those most important and relevant sections of this chapter was the methods of growing sales volume and increasing sales. During this pandemic many companies have taken substantial losses due to companies shutting down, and not being able to keep up with th supply and demand of various products. Supply chains have also been affected with many products taking longer to meet their distributors. Meat for instance, has seen a significant increase in price due to the demand and shortage. Other possible foods such as pork, chicken, and fish, have seen some prices lowered to attract new buyers and have effected consumer choices and strategies of marketing tactics. Limitations in marketing channels have made pricing products vital in cutting profit losses and increasing product sales.
Chapter 17: Marketing Plans recapped the 5Cs, STP, and 4 Ps. This ultimately leads to the goal of a marketing plan to achieve company goals. Marketing plans are continuously changing due to various factors, such as the economy, and is made from numerous details and decisions (Iacobucci, 2018). The most important section of this chapter was the managerial checklist and how all of this combined helps to create the overall marketing plan. Using the 5Cs, STP, and 4Ps to coordinate a tactical approach in writing and producing the overall marketing plan (Iacobucci, 2018). After researching and writing on my group project I could see all of this classes information becoming more practical and realizing how everything combines to create a marketing plan for a company or product. Once everything is ultimately combined and presented the marketing plan shows its importance in helping companies promote and sell their product while hopefully creating an increase in popularity and overall profit margins for the long term, which can be altered and fitted to react to changes or misses involved in the distribution and sales of the product and company.
1) Amazon
Cost leadership-Amazon produces more purchasing options, and the cost and delivery options of the company are unparalleled. While most companies have taken extreme losses during this pandemic, Amazon actually increased profits exceeding 3 billion dollars.
Differentiation-Amazon uses bundles, excellence in pricing, speed of delivery, and easy accessibility to set themselves apart from all forms of distribution methods.
Focused-Amazon also separates because they have branched into multiple streams of revenue and industries. Besides the service industry specifically, they have branched into musical and television markets that connect to the basis of product sales.
Managing Advertising Agencies Throughout a Product's Lifecycle WhitepaperDana Small
This whitepaper gives in-depth detail on how you can actively manage creative advertising agencies through a product's lifecycle. It gives insights and pro tips based on the presentation given at ProcureCon Marketing 2019.
Michael Porter is a professor at Harvard Business School.
A firm’s success in strategy rests upon how it positions itself in respect to its environment.
24. SAMPLE SWOT STRENGTHS--S 1. Good editorial quality. 2. High readership ratings. 3. Market leadership. 4. Strong staff loyalty. 5. United Board of Directors OPPORTUNITIES—O 1. Better relations with government. 2. The youth market 3. The lower income markets. 4. Better newspaper technology. 5. Digital advertising. SO STRATEGIES 1. Introduce a new product for the youth market (S1, S2, S3,O1,O2) 2. Introduce a new product for the lower income market (S1,S2,S3, O1,O3) 3. Offer digital advertising services (S3, O4, O5). THREATS--T 1. Television. 2. High newsprint costs. 3. Declining readership. 4. Slowdown in the economy. 5. Internet and on-line publications. ST STRATEGIES 1. Introduce a free print medium. (S1,S2,S3, T1,T4) 2. Introduce a youth website. (S1,S3,T1,T5) WT STRATEGIES 1. Set up regional printing sites (W1, T2). 2. Merge non-revenue earning classifieds products into the main classifieds (W2,T2). WO STRATEGIES 1. Develop a readership program involving employees (W3,W4,O2,O3). 2. Convert non-revenue earning products into a youth publication (W1,W2, O2). WEAKNESSES—W 1. Profit margin squeeze. 2. No. 2 in classifieds. 3. Lack of a shared culture. 4. Complacency. 5. Lack of entrepreneurial spirit
27. SPACE MATRIX Industry Strength -6 -5 -4 -3 -2 -1 Conservative Defensive Competitive Aggressive +1+2+3+4+5+6 +6 +5 +4 +3 +2 +1 -2 -3 -4 -5 -6 (+4.6, -3.2) External Strategic Position x-axis=ca(-1.0)+is(5.6)= +4.6 Internal Strategic Position y-axis=es(-5.2)+fs(2.0)= -3.2 The Company is competing fairly well in an unstable environment Financial Strength Environmental Stability Competitive Advantage
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32. SAMPLE INTERNAL-EXTERNAL (IE) MATRIX I IV VII II VIII IX VI III V AVERAGE 2.0-2.99 WEAK 1.0-1.99 STRONG 3.0-4.0 MEDIUM 2.0-2.99 LOW 1.0-1.99 HIGH 3.0-4.0 Intensive Integrative TOTAL IFE WEIGHTED SCORE= 3.2 TOTAL EFE WEIGHTED SCORE = 3.0 ABC