...Marketing Strategy Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because firms that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...Cider Making Marketing Strategy One of the most essential things that will be a factor towards the long-term sustainable success of your Cider Making business is setting out and implementing a successful Cider Making marketing strategy. Despite this, most Cider Making businesses do not have set out their Cider Making marketing strategy or, even if they do, it is not followed and implemented comprehensively. Cider Making businesses that have the vision to create a vibrant, customer-focused marketing strategy, and the resolve to implement it, will have a real opportunity to do something wonderful with their business. If you set out your Cider Making marketing strategy properly you will create the 'buzz' that will set you apart from your competitors. Having a Cider Making marketing strategy is different to having a marketing plan. A marketing strategy involves choosing a realistic, measurable and ambitious goal that you think your Cider Making business can achieve on a sustainable basis. Each marketing tactic you use should be 100% focused on reaching and surpassing that overall goal. A marketing plan includes all of the tactics and actions that are designed to achieve the overall strategic goal, and a timetable for their implementation. In other words, the plan will detail what you will do to make the strategy happen. The vast majority of businesses in all sectors market themselves the same way as their competitors, with supply-driven marketing messages based on product features...
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...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...StratSim Strategy Statement Guidelines (Use Outline Format) - Draft of assignment is due Thursday, April 5 during class - Final version due Monday, April 9 by 5:00 at my office (310 Lerner) - In general, this plan will show how you plan to win. - A good plan should answer the questions that I posed to you previously: What am I selling? To whom? How? And to these I would add: Why should people buy my vehicles? Keep asking this question for each of your vehicles. One thing it will do is force you to think about your competition since you cannot answer this without taking them into consideration. Guidelines for Plan Content a. These are only guidelines; you may add other information as you feel appropriate. b. Avoid broad, relatively meaningless statements that are more like platitudes e.g. sell the best car, make the most money, advertise at a high level, etc. These kinds of statements need to be backed up with enough detail to guide your decisions. c. Overall, the best plans tend to capture the role and use of most, if not all of the decision variables that are under your control. Suggested Content I. Team Organization Successful teams usually have a team that works well together and have procedures that contribute to team effectiveness and efficiency. Team organization and responsibilities Decision making procedures Problem resolution procedures Procedures and assignments Any specialization that exists II. Product Strategy This section is likely the core driver of your plan...
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...Advance praise “Our world is facing uncertainties never seen before. Designing winning strategies, as tough as it can be, is only part of the challenge facing senior management. The most difficult part is to continuously translate our strategy into superior performance at all levels of our organisations. That’s what this book is all about: tips and tricks to get things done” Gérard Mestrallet | CEO | GDF SUEZ “This book absolutely nails the three things every manager needs to know about strategy – execution, execution, execution!” Bill Saubert | Regional Business Leader Australia/New Zealand | MasterCard Advisors “Strategy Execution Heroes is a wonderfully written and well-organised book with a clear commonsense approach to strategy implementation. It is a must-read for any manager regardless of position or years of experience” Michael Benavente | Managing Director Watches | Gucci “Organisations have become very aware that much great strategy is lost before it’s turned into performance, mainly as a result of poor execution skills. This book is a significant step towards addressing that gap: it takes strategy to the manager level, providing practical everyday recipes to make sure that the ‘big picture’ does not remain a boardroom abstraction” Bruno Lanvin | Executive Director, eLab | INSEAD “Strategy Execution Heroes provides leaders with a practical strategy execution how-to guide which includes a brilliant summary of Jeroen’s personal experiences combined with an extensive collection...
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...BADM 320 Administrative Problem Solving Dr. Edmund Strategy Mission Statement: Formal Business Statement of Aims. A formal document that states the aims of a company or organization. Vision: The ability to anticipate possible future events and developments. Ability to think ahead. The ability to envision possible future problems or obstacles. the act of looking forward. An observation or measurement made looking forward. the making of a statement or forming of an opinion about what will happen in the future. Executive Summary: A statement (summary: a shortened version of something that has been said or written, containing only the main points) by the Senior Management in a company or organization, whose job it is to make and implement major decisions. A committee or group in a political organization that makes decisions and has the authority to implement them. Responsible for or relating to the making and implementing of general decisions in a company, organization, or government. Objectives Goals Strategies Tactics Objectives: based on facts rather than thoughts or opinions a goal or purpose. free of any bias or prejudice caused by personal feelings. Goals: Aim something that somebody wants to achieve. Target Area. Strategy: a carefully devised plan of action to achieve a goal, or the art of developing or carrying out such a plan. Tactic: Means to a goal; a method used or a course of action followed in order to achieve an immediate...
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...COURSE: COMPETITIVE STRATEGY Master in Management (MScM) Fall 2012 WARNING! THIS IS A TENTATIVE SYLLABUS – THE GENERAL STRUCTURE WILL STAY THE SAME BUT THERE MIGHT BE CHANGES FOR SOME OF THE SESSIONS Professor: Jean-Philippe Bonardi Email: Jean-Philippe.Bonardi@unil.ch Tel: 021 692 3440 Office: Internef 604 Assistant: Mark Kuzmanic Email: Mark.Kuzmanic@unil.ch Office: Internef 621 The course will take place every Friday from 8:00am to 11:30am, in Room GENOPODE C First class: Friday September 21, 2012 A website for the course with a description of the sessions and posted material is available at: https://www.hec.unil.ch/docs/bonardi/cours/308 Overview Competitive strategy is about the analysis of how firms behave or should behave based on the type of industry structure and competitive threat they are facing. In this course, we will go through various theories, strategic tools and cases to understand how this type of analysis can be conducted effectively. More generally, the focus of this course is on strategic management - the process of choosing and defining purposes and objectives, formulating a strategy and implementing it. The course aims to develop your ability to see an organization as a whole and to understand how and why the various functions of a business are interdependent and need to be coordinated. Hence, the thrust of the course is the organization in its totality - the environment in which it operates, its strategy and how this strategy builds on the firm’s...
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...How to Analyze a Business Situation Real business situations are complex and confusing. They’re often more difficult to analyze than most problems you confront in academic life. To make sense of them and come to conclusions that will help you succeed in the long run, it helps to develop a discipline in sorting out facts. This handout is designed to help you create that discipline. The basic process outlined here will help you prepare for discussion of a case in class, prepare an essay on an exam, prepare a paper on a business question, or prepare to present a recommendation or make a decision in many (probably most) real-world business situations. The process described here parallels that described in Hill & Jones’ text, Strategic Management Theory, pp. C2-C9 (at the back of the text), and that may be reviewed for further guidance. Start by stating clearly (to yourself) what question you are trying to answer. Write it at the top of the page or computer file where you are taking notes. For analysis of a case in a business school class, it is appropriate to select one of the “study questions” from the syllabus that is most interesting to you. Step 1. Analyze the history and development of the company and the situation. You are likely to receive information on the situation from confusing sources. Many different facts and dates will be out of chronological order. Usually the best first step for understanding the situation is simply to list the key events...
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...The Wharton School of the University of Pennsylvania Management 223 - Business Policy & STRATEGY Spring Semester, 1999 Course Description and Syllabus Instructors: Phanish Puranam (PP) & Michael G. Jacobides (MGJ) Office: 2061(PP) /2055(MGJ) SH-DH (Management Dept. Suite) Tel: 898-1231 (PP) / 898-1224 (MGJ) Email: puranam@management.wharton.upenn.edu jacobides@management.wharton.upenn.edu Class Hours: Tuesdays and Thursdays 12:00 to 1:30pm Office Hours: By appointment (PP) Course Overview This course focuses on strategic management and strategic decision making and examines issues central to the long-term and short-term competitive position of the company or division / business unit. Students are placed in the role of key decision-makers or their advisors and asked to solve problems related to the development or maintenance of the competitive advantage of the firm. We start the course by looking at strategy at the level of the business unit, which is the fundamental level for competitive analysis. The perspective taken is of a manager in a given unit with particular assets, capabilities and competitive challenges. We look at industry analysis, examine the sources of competitive advantage, and explore generic strategies: How can we analyze the competitive environment, and what are the basic options for business-unit level strategy? What are the bases of competitive advantage? What is the nature of the value chain? Following...
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...1. What is adidas corporate strategy? Was there... 1. What is adidas corporate strategy? Was there a common strategic approach utilied in managing the company's lineup of sporting goods businesses prior to its 2005-2006 restructuring? 2. Did the restructuring undertaken in 2005 and 2006 make sense? Does it appear that the acquisition of Reebok International will produce higher returns for shareholder? What strategic actions should adidas's top management initiate ti improve the company's financial and market performance now that restructuring is complete? Expert Answer Thanks for the question. Adidas' corporate strategy now focuses on basketball, football, running, and training and keeps their product line to style and performance. Prior to restructuring in 2005-2006, Adidas had branched out into too many areas and gave less focus on product specialization. Competitors such as Nike gained market on Adidas as a result. The restructuring in 2005 did make sense because it enabled Adidas to sell certain business divisions that were not profitable. This coupled with Adidas' acquisition of Reebok and the return to it's core focuses has allowed shareholders to see positive results as well as Adidas gaing market share back from Nike. The strategic actions that Adidas' top management should emplement now are to continue the core competencies approach and focus on what works for them as opposed to branching out into other areas. ...
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...business school register controller 16 january 2012 The strategy in businesses can be compared to the strategy on the battlefield in many aspects. In both settings a good strategy is crucial to survive and reach your own goals and to prevent defeat by the enemy or competitor who, most probably, has opposing wills. In these pages, the strategy in businesses is linked to the military principles of war. I believe that there are quite some similarities between that what is educated at the Military Academy and that what I’ve learned at TiasNimbas. Although different lists with military principles of war circulate, the ones discussed in this paper are of frequent occurrence. On the battlefield as well as in business applying one principle makes is hard, or even impossible to apply an other at the same time. The commanding officer needs to weigh one against another and choose the best for the specific situation. Objective Direct every military operation towards a clearly defined, decisive, and attainable objective. This needs little to none translation to a non-combatant environment. If it’s not completely clear what you want to achieve, one thing is sure, you’ll never reach your objective. So start with making that clear and think of ways to evaluate the completion of your objective. You need to know and to understand where results come from in order to adapt and survive. Offensive When you have the initiative, it is you who decides where and when battles are fought. It prevents...
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...“Have you caught the wave?” For those who have not heard this quote before, it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy, the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched and deep. This is the exact opposite of the beliefs of other strategies like Porter, D’Aveni, and Moore who work within the current market to beat the competitors. In the past ten weeks, this class has tested me by having to read challenging articles that presented several different strategic theories to us. While all of the theories brought us interesting and valuable information, the one that resonated most with me and stuck out the most was the Blue Ocean Strategy. I have always been someone who enjoys a challenge and I feel that while this theory is a challenge, it has the most potential to bring organizations the greatest amount of success. To fully understand why I selected this theory opposed to one of the other ones, I feel that first I need to explain exactly what Blue Ocean Strategy is and who has used it and gained enormous amounts of success. While there are many people who believe taking down the competition is the best plan for their company and will result in huge success, Blue Ocean Strategy does not even factor it into their decision making process as a way to reach success. To discuss Blue Ocean Strategy...
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...assessed as you complete the 10 tasks that make up the ETT4/5 performance assessment and the EIO4/5 objective assessment. Introduction Welcome to Effective Teaching Practices. Effective teaching depends on effective planning. Teachers need to devote systematic thought to what they want students to learn and to how students will best acquire knowledge and skills. You will learn how to select, develop, and evaluate instructional materials as well as strategies to use to accomplish specific learning goals. You will plan for effective instruction, and then implement those plans. Interactive teaching includes appropriately responding to all of the details that emerge during the presentation of lessons. Teaching is a process. Teachers plan lessons and then present them. They use information about the lesson presentation to make appropriate changes to improve both student achievement and lesson presentation. Outcomes and Evaluations There are 10 competencies covered by this course of study; they are listed in the "Competencies for Effective Teaching Practices: Instructional Presentation and Follow-Up (ETT4/5)" page. The list of competencies is a good overview of precisely what you will know and be able to do at the conclusion of this course of study and demonstrate through assessment. Teaching Dispositions Statement Please review the Statement of Teaching Dispositions. You will complete the following assessments as you work through the course of study. Pre-Assessment You will complete...
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...2014 CAPSTONE STRATEGY STATEMENT GUIDELINES Your Strategy Statement should address: What is your firm’s intended strategy? o What segments are you aiming to compete in? o On what basis will you compete (i.e. your strategy)? The strategy may be consistent across your chosen segments or it may be customised for each segment. When addressing this question you may use the generic strategy labels. But you may also use other labels or come up with your own labels (e.g. because none of the generic ones do your strategy justice). Alternatively you simply describe what you intend to do. We do not care what label you use but want you to formulate some clear intentions regarding how you are going to compete and then argue your choices. Your description of strategy may include a dynamic element. For instance, if you are choosing to focus, you need not do so immediately. As a result, you might intend to gradually withdraw from certain segments and thus discuss something like your “gradual focus strategy”. You have considerable scope with this exercise. The labels are merely potential tools. Don’t let them drive/limit your own thinking and creativity. Why do you think this is an effective choice of strategy or strategies? I.e. what is your justification? How will you support the chosen strategy or strategies at a functional level and why? I.e. what will you do in terms of R&D, marketing, production, finance and HRM to execute your chosen strategy or strategies? Nominate your chosen...
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...Risk Assessment and Strategies for Growth Business Plan Part 5: Risk Assessment and Strategies for Growth Jasmeih Green BUS521002VA016-1126-001 Entrepreneurship & Innovation MANNERS, AMANDA 9/8/2012 Jasmeih Green BUS521002VA016-1126-001 Entrepreneurship & Innovation MANNERS, AMANDA 9/8/2012 Assess risk for your business. 1. Identify and evaluate the main sources of risk for your business. 2. Explain your plan for dealing with risk by developing a contingency plan. It is stated that risk assessment is third step in a basic risk management process. Risk assessments measure two components: severeness of expected loss and the probability that loss will occur. The aim is to determine the quantitative and qualitative values of risk associated with a potentially hazardous circumstance. Risk assessment is different for individual businesses, there is a general checklist to consider when assessing and managing risks. It should be able to identify potential endangerment to your assets when using the risk assessment. The primary assets that are subject to risk, as well as the secondary assets that might be affected can be determined. My company will have to be able to identify the threat community by deciding whether the threat is internal or external, human ware of malware. In this case we have to be specific in determining the threat. Sometimes you have referred to a broad-spectrum analysis. There is several risk assessment that do exist however I feel...
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