Role of strategic management in marketing,
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Strategic management plays an important role in marketing, finance, HR, and competitiveness. HR systems should align with business strategy in a one-way fit, but also contribute to strategy formulation in a two-way fit. SHRM is involved in every step of strategy, from formulation to implementation to evaluation. Strategic financial management helps attract resources, maximize shareholder wealth, and take decisions to ensure future growth. It involves continuous search and selection of investment opportunities, determining optimal funding mixes, financial controls, and analyzing results to guide future goals. Strategic management in marketing concerns facing long-term competition, building corporate image, and forming marketing strategies.
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More from Chandra Pandey
Gyananushasan
ज्ञानानुशासन अर्थात अकादमिक अध्ययन अध्यापन और शोध की एक विशेषीकृत विधा , जिसका सम्बन्ध उच्च शिक्षा से है | ज्ञानानुशासन विवेचना के स्तर पर उच्च स्तरीय, समीक्षात्मक ज्ञान की शाखाएं हैं जो अपने विशेष उपागमों (पाराडाइम) के कारण जाने जाते हैं |
ज्ञानानुशासनों में भौतिक विज्ञान , सामजिक विज्ञान , भाषा , गणित इत्यादि विद्यालय स्तर पर पढाए जाते हैं जिनको विद्यालयी विषय कहा और समझा जाता है | इन विषयों में इन ज्ञानानुशासनों के अनिवार्य, मौलिक और वे प्रकरण (टापिक) शामिल होते हैं जो विद्यालयी विद्यार्थियों के लिए उपयुक्त और अनिवार्य समझे जाते हैं | ये उनके मानसिक विकास , संज्ञानात्मक कौशल , व्यक्तित्व और सामाजिक सांस्कृतिक कारकों के अनुरूप संगठित होते हैं| विद्यालयी विषय पाठ्यचर्या के निर्माण के सिद्धांतों , मनोविज्ञान और शिक्षा नीतियों के आलोक में सृजित होते हैं और पाठ्यक्रम के अनुरूप कक्षावार पढाए जाते हैं |
ज्ञानानुशासन के बारे में एक सामान्य सी
Advance discussion in strategic decision making
This document discusses strategic decision making. It outlines 5 Ps of strategic decisions: plans, ploys, pattern, position, and perspective. It also discusses different types of strategic decision makers, contexts for decision making, and the political nature of strategic decisions within organizations. Politics in strategic decision making involves the conscious pursuit of self-interest through behaviors like controlling agendas, forming coalitions, and selectively advocating for criteria or information to influence outcomes.
Business policy
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Hathrone experiments
The document summarizes the Hawthorne experiments conducted at Western Electric's Hawthorne plant from 1927-1932. The experiments were led by Elton Mayo and showed that social and psychological factors significantly impacted productivity more than physical work conditions. Specifically, the relay assembly test room experiment found that friendlier observation and valuing employees resulted in higher output. Overall, the Hawthorne experiments highlighted the importance of human relations in organizations and influenced the development of personnel management and organizational behavior.
Ethical theories and approaches in business
Ethical theories provide frameworks for judging right and wrong decisions in business. There are two main types: consequentialist theories which evaluate actions based on their consequences, and non-consequentialist theories which don't consider consequences alone. Utilitarianism is a consequentialist theory that tells us to maximize happiness for all affected by an action. Kant's categorical imperative is a non-consequentialist theory stating that people should always be treated as ends in themselves, never merely as a means. These theories provide guidance for formulating policies and resolving conflicts in an objective, results-oriented way.
Ch09 managing decision making and problem solving
Bob Diamond made several important decisions to turn around Barclays Capital division. He focused on hiring top performers, emphasizing teamwork, and forming client-based teams. These decisions led to the creation of innovative products and Barclays Capital becoming a top global bank. Effective decision making, recognizing mistakes, and responding quickly were keys to Diamond's success in transforming the division.
Introto environmentalscanningpresentation 000
A. Mark Macias presented at the WARP Fall Conference in November 2008 on environmental scanning. He discussed defining environmental scanning, types of scans, factors to include in scans such as customers, competitors, and the macroenvironment. He provided tips on conducting scans such as using a team, allowing ample time, and presenting data visually. The presentation aimed to help others effectively conduct environmental scans for strategic planning purposes.
Human relations movement (2)
Human relations theory argues that workers respond primarily to the social context of the workplace, not just economic incentives. It recognizes two views of workers: Theory X, which sees workers as inherently lazy and only motivated by threats or rewards, and Theory Y, which sees workers as generally willing and able if properly motivated. Maslow's hierarchy of needs also informs human relations theory by suggesting workers have a hierarchy of physiological, safety, social, esteem, and self-actualization needs that must be met for maximum motivation and performance.
Henry fayol
Fayol proposed 14 principles of management that are universal and can be applied to any organization. The principles include division of labor, authority, discipline, unity of command, subordination of individual interests, unity of direction, fair compensation, balance of centralization and decentralization, clear chain of command, order, fairness, job security, innovation, and team spirit. Fayol argued that by following these principles, managers could effectively plan, organize, command, coordinate, and control their organizations.
Hawthrone xperiments
The document summarizes the Hawthorne experiments conducted at Western Electric's Hawthorne plant from 1927-1932. The experiments sought to understand how social and psychological factors in the workplace impact productivity. They found that friendlier observation and valuing employees led to higher productivity than physical changes alone. The experiments highlighted the importance of listening to employees, informal social groups, and group pressures over financial incentives. They provided an impetus for considering human relations and behavioral perspectives in management.
Hathrone xperiments
The document summarizes the Hawthorne experiments conducted by Elton Mayo at Western Electric's Hawthorne plant from 1927-1932. The experiments sought to understand the impact of physical and social factors on worker productivity. They found that productivity increased both when lighting was increased and decreased, showing social factors were important. Later experiments showed friendly observation and valuing employees led to higher productivity than financial incentives alone. The experiments highlighted the importance of human relations in management and influenced the development of behavioral perspectives in organizational behavior.
Csr
The document outlines a chapter on management's social and ethical responsibilities. It discusses the definition of corporate social responsibility and perspectives on the role of business in society. It also examines arguments for and against social responsibility, strategies for social responsibility, and who benefits from corporate social responsibility efforts. The chapter presents information on these topics through definitions, examples, and frameworks.
Planning
Planning involves thinking ahead about what needs to be done, how it will be done, and who will do it. It is a process of selection among alternatives for future actions. Planning occurs at three levels - strategic, tactical, and operational. Strategic planning sets long-term goals, tactical planning focuses on middle management goals to support strategic plans, and operational planning develops short-term action plans at the lower levels. Effective planning involves setting objectives and choosing alternatives to meet goals in a changing environment.
Functional analysis
The document discusses how to conduct a functional analysis of an organization by identifying strengths and weaknesses across key functional areas like marketing, finance, operations, human resources, and technology. It provides examples of strengths in these areas for different companies. The document also discusses how to analyze an organization's value chain and resources using frameworks like the VRIO model to assess strategic importance.
Corporate value chain analysis
Value chain analysis examines the activities within a company involved in producing and delivering a product or service. It looks at the linked set of activities from raw materials to the final customer. An industry value chain looks at a firm's primary activity and area of expertise within an industry. A corporate value chain analysis examines each product line's value chain to identify strengths and weaknesses, analyzes linkages within each product line, and evaluates potential synergies among different product lines.
Organizational appraisal
The document discusses organizational appraisal and the VRIO framework. It explains that organizational appraisal involves identifying a firm's resources, classifying them as strengths or weaknesses, combining strengths into capabilities, assessing their potential for competitive advantage, selecting strategies to exploit resources and capabilities, and identifying gaps to improve weaknesses. The VRIO framework evaluates whether resources provide value and competitive advantage, are rare, costly to imitate, and whether the organization is exploiting the resources. If the answer is yes in any category, the resource is strategically important.
Strategic intent
Strategic intent is an obsession that drives an organization even if it is disproportionate to its current resources and capabilities. It provides clear direction on what the organization aims to achieve. A vision is broader and more aspirational than a specific idea - it depicts where an organization wants to be in the future. Creating an envisioned strategic framework involves defining the organization's core ideology and envisioned future state. Having a clear vision fosters experimentation, long-term thinking, and risk-taking. A mission statement describes the essential social purpose and reason for an organization's existence. It specifies who the organization serves and the nature of its business.
Introto environmentalscanningpresentation 000 (1)
Strategic environmental scanning is the process of collecting, analyzing, and distributing information about external factors that could impact an organization. It provides intelligence about trends, issues, and expectations in the environment to inform strategic planning. Scanning can be done on an ad hoc, periodic, or continuous basis and should gather both macroenvironmental data as well as internal organizational factors.
Industry analysis (2)
The document analyzes industry structure and competition. It discusses Porter's five forces model, which examines the competitive environment through the threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and rivalry among existing competitors. The five forces determine industry profitability and attractiveness. Industries with high barriers to entry, limited substitutes, and fragmented competition are generally more profitable. The document also provides an example analysis of competition in the airline industry in North America using Porter's five forces framework.
Environmental threat and opportunity profile
This document outlines how to conduct an environmental threat and opportunity profile (ETOP) analysis for an organization. The ETOP identifies external factors in different sectors like economic, political, technological that could impact the organization. It involves subdividing sectors, identifying key issues, and assessing each issue's potential favorable, unfavorable, or neutral impact. The document provides an example ETOP analysis for a bicycle company, identifying issues in sectors like the economy, market, international trade that could threaten or benefit the company. Conducting an ETOP helps understand external opportunities and threats to inform strategic planning.
More from Chandra Pandey (20)
Role of strategic management in marketing,
- 1. Role of Strategic Management in Marketing, Finance, HR and global competitiveness
- 2. One way fit of HRM with strategy HR systems should be in alignment of strategy • Kesler (1995) considers this alignment as the partnering role of HR where HR is highly integrated with business processes.
- 3. Two way fit of HRM with Strategy • HRM systems not only align to the business strategy, but also contribute in the strategy formulation • Contribute as understanding the linkages between structure, culture, HRM and the strategy.
- 4. SHRM is involved in every step of STRATEGY Strategy formulation is influenced by– •presence/absence of HR representation business •knowledge of the HR representative, •HR knowledge of the HR representative, • inter-personal relationship of the HR representative with the top management team 4
- 5. Strategy implementation and HR • flexibility of HRM systems, • competency of HR personnel, • availability of resources, • execution efficiency, • support of line managers . 3/10/2013 5
- 6. Strategy Evaluation and HRM • Performance appraisal 3/10/2013 6
- 7. Strategic management and finance Strategic financial management is concerned with the role of strategic management in finance function. Strategic financial management helps a firm in attracting resources , maximization of shareholders wealth, taking appropriate decisions, to make the firm survive and grow in future 3/10/2013 7
- 8. • Continuous search for investment opportunities • Selection of most profitable opportunities • Determination for optimal mix of internal and external funds to finance these opportunities • A financial control system to govern acquisition and disposition of funds • Analysis of financial results as a guide to future goals 3/10/2013 8
- 9. Strategy and Marketing Concerned with facing the competition in long run Making a corporate image Formation of marketing strategies 3/10/2013 9
- 10. 3/10/2013 TE Murphy 10