The document discusses key aspects of corporate success and strategy. It states that the key measure of corporate success is added value, which is the difference between a firm's output and the cost of its inputs. Several examples are given of companies like Microsoft that were adept at adding value. Successful companies effectively match their external relationships and capabilities. The document also discusses the importance of vision and mission statements in guiding corporate strategy and providing shared goals.
Master Mentors Advisory Private Limited is a Premier Consulting Organisation with global foot print. It consists of professionals with proven experience and track record as CXOs and entrepreneurs. The practitioners at Master mentors are mostly from IITs / IIMs with longstanding corporate & entrepreneurial experience across diverse industries. Master Mentors’ team has a collective top management experience of over 300 years and has significant exposure to global markets including USA, Europe, Africa, Middle,Far East & South East Asia.
This Presentation gives the idea of mission and objectives of any organisation. It explains about the quality of good vision, mission and objectives of any organisations .
Master Mentors Advisory Private Limited is a Premier Consulting Organisation with global foot print. It consists of professionals with proven experience and track record as CXOs and entrepreneurs. The practitioners at Master mentors are mostly from IITs / IIMs with longstanding corporate & entrepreneurial experience across diverse industries. Master Mentors’ team has a collective top management experience of over 300 years and has significant exposure to global markets including USA, Europe, Africa, Middle,Far East & South East Asia.
This Presentation gives the idea of mission and objectives of any organisation. It explains about the quality of good vision, mission and objectives of any organisations .
Diagnose helps you simply diagnose your business to learn how everything you do and every customer you meet influence it. Your business can understand weaknesses/strengths and know how to improve their capability and ability to survive in the market on long-term operation.
Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson1
This lesson introduces two important business tools: the Vision and Mission Statements. After watching this video, you will know how to properly create these tools, what common mistakes to avoid, and how you can most effectively use them to guide your organization.
The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.
Diagnose helps you simply diagnose your business to learn how everything you do and every customer you meet influence it. Your business can understand weaknesses/strengths and know how to improve their capability and ability to survive in the market on long-term operation.
Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson1
This lesson introduces two important business tools: the Vision and Mission Statements. After watching this video, you will know how to properly create these tools, what common mistakes to avoid, and how you can most effectively use them to guide your organization.
The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.
Running Header: BALANCED SCORECARD
BALANCED SCORE CARD 6
Strategic Objectives
Corey D. Harrison
February 25, 2014
M. Ovase
Strategic objectives
The operations of companies have changed a big deal from the way they used to do things in the past. Initially people went to work and went back home after a day’s work without ever worrying about meeting targets because companies did not have defined objectives. However things have changed in the past few years because now everyone has to meet targets and companies have visions to chase. The achievement of the visions is dependent on the objectives that are set. Strategic objectives are currently the start point for companies because they define the general direction which must be followed by all companies. The strategic objectives direct managers to ask themselves, where they are and where they intend to go. As a company Senior Shoes needs to develop its objectives based on the following six categories of activities; Finance, Marketing, Products, Operations, Human resources, and Community.
For Senior Shoes to attain its objectives, such objectives must be driven by the vision and mission statement which guide all the activities of the organization. The mission of the company is to be the sole producer and market of Snickers across the globe.
Department
Areas
Financial Perspective
· strategic objectives in areas such as
· Market share
· Revenues and costs
· Profitability
· Competitive position
Customer Value Perspective
· Customer retention or turnover
· Customer satisfaction
· Customer value
Internal Operations Perspective
· Measure of process performance
· Productivity or productivity improvement
· Operations metrics
Employee Perspective
· Employee satisfaction
· Employee turnover or retention
· Level of organizational capability
· Nature of organizational culture or climate
· Technological innovation
Strategic objectives for the financial perspective
The finance part of an organization is key to the success of an organization because it deals with money. For the Senior shoe company, the strategic objectives for the finance perspective will be; to increase the market share of the company, based on the SWOT analysis, the company has a number of opportunities in the sense that there are new markets coming in every time for example there are schools and sports shops coming up every day. Still on the objective of increasing market share, the company has strengths in the sense that it specializes in snickers therefore it can be able to differentiate within that line. The next objective is to boost the customer loyalty as compare to other companies; the company has strengths in these areas because it can easily identify its customers because it does business within the same line. The last strategic objective in the financial perspectiv.
Developing vision, mission, shared values, motto, objectives, critical success factors, Key Performance Indicators, as well as using veritable tools for scanning the environment in order to craft effective strategy while evolving workable strategic road map
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
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• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
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In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
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The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
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How to use additional "Lenses"
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Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
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Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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https://nidmindia.com/
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
2. Corporate Success
• Size ?
• Sales ?
• Market share ?
• Stock exchange value ?
• ROI ?
• Growth ?
• P/E ratio ?
3. Added Value
• The key measure of corporate success is
added value :
The difference between a firm’s output
and the cost of its inputs.
4. Value addition is measurable
• Microsoft Corporation, Added ( US $ Millions),1992
• Value of output 2750
• Wages and salaries 400
• Cost of capital employed 50
• Cost of materials 1650
• Total input 2100
• Added Value 650
5. Who is interested in the Company’s
success ?
• Employees / present and prospective
• Investors
• Customers
• Competitors
• Suppliers
• Analysts / Business professionals
• Government Agencies
6. Corporate successes
• The key lesson from histories of Corporate
successes is that corporate success is
based on an effective match between a
firm’s external relationships and its
distinctive capabilities.
7. Foundations of Success
Disney
BMW
Honda
Microsoft
All the above firms identified their distinctive
capabilities, selected the markets best
suited to their strengths, and built effective
competitive strategies to exploit them. All these companies
were adept at adding value.
8. Examples of failure
• IBM with the most rewarding distinctive
capabilities ever enjoyed by any corporation,
saw its markets develop in a way that steadily
diminished the value of the competitive
advantages it derived from them.
• Saatchi and Saatchi, once the best known
advertising agency in the world, over – extended
themselves and diminished in value trying to
shift from international recognition to creating
an international business.
9. Marketing Strategy
• No Marketing strategy is possible
without reference to the overall planning
of a company.
Corporate plans
Functional Plans e.g.
marketing
Sub Functional Plans e.g. Sales
Advertising etc.
10. Development of a marketing
strategy
• All strategy formations impact on each other.
• Selection of a target market and developing a
marketing mix are inter-related.
• Both parts of a marketing strategy must be
decided together.
• Strategies must be evaluated against the
company’s objectives not versus alternate
target markets or alternate marketing mixes.
11. The Company Vision and Mission
• While a company is continually adapting to
it competitive environment certain core
ideals remain relatively steady and guide
its strategic decision making process.
• These unchanging ideals form the
Business Vision and are expressed in the
company Mission statement.
12. Some Vision statements
Avon
To be the company that best understands
and satisfies the product, service and self-
fulfillment needs of women - globally
DuPont
The vision of DuPont is to be the world's
most dynamic science company, creating
sustainable solutions essential to a better,
safer and healthier life for people
everywhere.
13. Coal India Limited
To emerge from the position of domestic
leader to leading global player in the
energy sector by adopting best practices
from mine to market with due care to
environmental and social sustenance.
14. TATA STEEL
The long journey of Tata Steel has seen the
Company re-define its performance parameters
in a number of ways to become the global steel
industry benchmark for value creation and
corporate citizenship. It ensures a total
commitment to its ethical business practices and
a people oriented vision.
Vision
We aspire to be the global steel industry
benchmark for Value Creation and Corporate
Citizenship
15. Mission
Consistent with the vision and values of the founder Jamsetji Tata,
Tata Steel strives to strengthen India’s industrial base through the
effective utilization of staff and materials. The means envisaged to
achieve this are high technology and productivity, consistent with
modern management practices.
Tata Steel recognizes that while honesty and integrity are the
essential ingredients of a strong and stable enterprise, profitability
provides the main spark for economic activity.
Overall, the Company seeks to scale the heights of excellence in all
that it does in an atmosphere free from fear, and thereby reaffirms
its faith in democratic values.
16. We make the difference through
• Our People
•
By fostering teamwork, nurturing talent, enhancing leadership capability and
acting with pace, pride and passion.
• Our Offer
By becoming the supplier of choice, delivering premium products and
services and creating value for our customers.
• Our Innovative Approach
By developing leading edge solutions in technology, processes and
products.
• Our Conduct
By providing a safe workplace, respecting the environment, caring for our
communities and demonstrating high ethical standards.
17. IKEA
The IKEA vision is to create a better
everyday life for the many people. We
make this possible by offering a wide
range of well-designed, functional home
furnishing products at process so low that
as many people as possible will be able to
afford them.
18. • Unilever
The four pillars of our vision set out the long-term
direction for the company – where we want to go and
how we are going to get there:
• We work to create a better future every day.
• We help people feel good, look good and get more out of
life with brands and services that are good for them and
good for others.
• We will inspire people to take small everyday actions
that can add up to a big difference for the world.
19. • We will develop new ways of doing business
with the aim of doubling the size of our company
while reducing our environmental impact. We've
always believed in the power of our brands to
improve the quality of people’s lives and in doing
the right thing. As our business grows, so do our
responsibilities. We recognise that global
challenges such as climate change concern us
all. Considering the wider impact of our actions
is embedded in our values and is a fundamental
part of who we are.
20. A Vision statement by definition is
something you want to become, to
achieve, it is a seductive image of an ideal
future – whereas a Mission statement
explains the purpose of the organization –
why it exists – it captures the
organization’s soul.
21. • The mission statement helps to set the
course but needs to translate itself into
more specific objectives which must of
course be consonant with the mission
statement.
22. The Mission statement
• Communicates the firm’s core ideology
and visionary goals and generally consists
of the following three components:
a) Core Values to which the firm is
committed
b) Core purpose of the firm
c) Visionary goals the firm will pursue to
achieve its mission
23. The company’s mission statement
Fred Smith wanted to deliver mail anywhere in the US before 10.30 am. This was his
Vision.
Fedex states as its mission statement “ People, Service, Profit”.
“The core philosophy that governs every activity at FedEx Express is
People-Service-Profit (PSP): Take care of our people; they in turn
will deliver impeccable service demanded by our customers, who will
reward us with the profitability necessary to secure our future.
People-Service-Profit: These three words are the very foundation of FedEx
Express.”
24. Infosys : Putting it all together
• Who we are
Our Vision, Mission and Values
• Vision
"We will be a globally respected corporation.“
• Mission
"Strategic Partnerships for Building Tomorrow’s
Enterprise.“
• Values
We believe that the softest pillow is a clear conscience.
The values that drive us underscore our commitment to:
25. CLIFE
• Client Value: To surpass client expectations
consistently
• Leadership by Example: To set standards in our
business and transactions and be an exemplar for
the industry and ourselves
• Integrity and Transparency: To be ethical,
sincere and open in all our transactions
• Fairness: To be objective and transaction-
oriented, and thereby earn trust and respect
• Excellence: To strive relentlessly, constantly
improve ourselves, our teams, our services and
products to become the best
26. Purpose of the Mission statement
These are developed to share with
managers, employees, and customers. It
gives them a shared sense of purpose,
direction and opportunity. It guides
geographically separated employees to
work independently and yet collectively
towards a single goal.
27. Mission statements: Ideally three
major characteristics
1. Limited number of goals
2. Stress the companies major policies and
values
3. Define the major competitive spheres in
which the company will work.
28. The three basic objectives of
companies
1. Engaged in specific activities performing
a socially and economically useful
function.
2. Developing an organization to carry on
business and implement strategies.
3. Earn enough profit to survive and to grow
29. Company Objectives should lead to
Marketing Objectives
• Company objectives guide managers in searching
and evaluating opportunities and later planning
marketing strategies.
• Particular marketing objectives must be set within the
framework of larger company objectives
• Thus the hierarchy of objectives moves from
company objectives down to marketing department
objectives
• For each marketing strategy firms need objectives for
each of the 4 Ps as well as more detailed objectives
within each of these areas.
31. Marketing Planning within the
Corporate cycle
• Corporate Financial Objectives
• Management Audit
• Objective and Strategy Planning
• Functional Plans
(including Marketing Plan)
• Corporate Plans
32. The Marketing Plan
• The Marketing Plan is a written statement
of marketing strategy and gives time –
related details
• It is necessary to know what needs to be
done and fills out the marketing strategy.
• It is a guide to implementation and control
33. Need for a Marketing Plan
• It ensures the coordination of all
activities in the marketing function and
sees that all individual efforts
complement each other.
34. Broad Components of a
Marketing Plan
• A)
The Marketing Mix offered
Target Market
For How Long ?
• B) Co. resources ( shown as cost ) needed
monthly/qtly
• C) Results Expected ( Sales /Profits / Customer
Service/ Control Procedures)
35. Stages in a Marketing Plan
• Mission
• Corporate Objectives
• Marketing Audit
• SWOT analysis
• Assumptions
• Marketing Objectives and Strategies
• Estimated Expected results
• Identify Alternative plans and budgets
• Budget
• First year detailed implementation
program
36. A Typical Marketing Plan
sets out
A) The Market
• The size and growth rate
• Its distribution by Region and Competitive
brand
• Sales by Population strata
• Sales by category of Consumer
37. B) The Target Customer
Age, Social/ Income class, Education
levels, Attitudes towards product and its
use
Product data/ formulation, efficiency of
performance vs. competition
Packaging, price,Product superiority vs
Competition
39. D) Marketing Objectives
Short and long – term aims of the marketing
strategy in terms of :
• Period
• Target consumer
• Distribution Policy
• Market Research Plans
• Product Development Policy
• Budget of all Marketing activity
• Two imperatives : Documentation / Periodic
review
40. Need for SWOT
• To ensure the successful
implementation of a marketing strategy
a firm needs to go through a process of
:
• Identification of major strengths,
weaknesses , opportunities and threats
based on analysis of company’s
resources, customers , competitors and
other aspects of the external company
environment
41. SWOT
• SWOT stands for strengths, weaknesses,
opportunities, and threats. Strengths and
weaknesses are internal factors.
• A strength could be:
• your specialist marketing expertise.
• a new, innovative product or service
• location of your business
• quality processes and procedures
• any other aspect of your business that adds
value to your product or service.
42. • A weakness could be:
• lack of marketing expertise
• undifferentiated products and service
(i.e. in relation to your competitors)
• location of your business
• poor quality goods or services
• damaged reputation
• Opportunities and threats are external
factors.
43. • An opportunity could be:
• a developing market such as the
Internet.
• mergers, joint ventures or strategic
alliances
• moving into new market segments that
offer improved profits
• a new international market
• a market vacated by an ineffective
competitor
44. • A threat could be:
• a new competitor in your home market
• price wars with competitors
• a competitor has a new, innovative
product or service
• competitors have superior access to
channels of distribution
• taxation is introduced on your product or
service
45. • Simple rules for successful SWOT
analysis
• Be realistic about the strengths and
weaknesses of your organization
• Analysis should distinguish between where
your organization is today, and where it could
be in the future
• Be specific. Avoid gray areas.
• Always analyze in context to your competition
i.e. better then or worse than your
competition
• Keep your SWOT short and simple. Avoid
complexity and over analysis
• Remember SWOT is subjective.
46. Key uses of SWOT
• Build on Strengths
• Resolve Weaknesses
• Exploit opportunities
• Avoid threats
• A SWOT is an integral part of any
Marketing Plan
47. Company Resources
To succeed, every company needs
some competitive advantage. This
arises out of some unique resource or
resources it possesses.
Breakthrough opportunities come
from using these strengths and from
avoiding direct competition with firms
with similar strengths.
48. Discovering Company strengths
• Evaluate all functional areas
• Evaluate products and Markets
• Evaluate Specialized knowledge of
Company personnel
49. Company resources vs. firm’s
successes and failures
• An analysis of past successes and failures
correlated with the firm’s resources can
throw light on reasons for either and lead
to framing of realistic and successful
future strategies.
50. • Financial strength is a major factor to be
considered in looking at opportunities.
Where initial capital outlay is very high this
may prove to be a barrier to a company
from taking advantage of an attractive
opportunity thrown up by the environment.
51. Intimate Customer relations and low – cost
quality manufacturing are other resources
a company may utilize effectively.
Production capability / flexibility /
outsourcing are other resources to be
considered.
52. Marketing Strengths
• Reputation and customer awareness of a
product
• Patent for a product
• Good relations with distribution channel
partners
• Effective use of Information Technology
• Promotion and price resources
• Thorough understanding of the Marketing
Environment