...The Nature of Strategy Implementation: Marketing, Finance/Accounting, R&D and MIS Issues Learning Outcomes After studying this unit, you should be able to do the following: ➢ Explain market segmentation and product positioning as strategy implementation tools. ➢ Discuss procedures for determining the worth of a business. ➢ Explain why projected financial statement analysis is a central strategy implementation tool. ➢ Explain how to evaluate the attractiveness of debt versus stock as a source of capital to implement strategies. ➢ Discuss the nature and role of research and development in strategy implementation. ➢ Explain how management information systems can determine the success of strategy implementation efforts. Introduction Strategy implementation directly affects the lives of plant managers, division managers, department managers, sales managers, product managers, project managers, personnel managers, staff managers, supervisors, and all employees. In some situations, individuals may not have participated in the strategy-formulation process at all and may not appreciate, understand, or even accept the work and thought that went into strategy formulation. There may even be foot dragging or resistance on their part. Managers and employees who do not understand the business and are not committed to the business may attempt to sabotage strategy-implementation efforts in hopes that the organization will...
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...ARMY AVIATION OPERATIONS IN LOW INTENSITY CONFLICT Introduction “Foot slogging” by infantrymen has been most important and fundamental to address an insurgency; however, there are limitations to their mobility. To increase their versatility, the Portuguese introduced two contrasting means, the helicopter and the horse. While there were other, more conventional solutions to the mobility problem, such as trucks, jeeps, and light armored cars, these vehicles required at least crude roads, had other terrain limitations, and were vulnerable to land mines. The advent of the helicopter and its application in counter-insurgency began with the British in Malaya on 1 April 1950, with the formation of the Far East Casualty Air Evacuation Flight at Seletar with strength of three Westland S-51 Dragonfly helicopters. During the Malayan Emergency the British used their helicopters primarily for casualty evacuation and later for airlifting troops. Question that looms ahead for the future, no matter what the outcome in Jammu and Kashmir, and North Eastern States, is how the army aviation succeeds against fierce insurgency in strategy and capabilities. The Taliban’s resurgence, tenacious resistance against NATO forces in Afghanistan, Al Qaeda’s ability to elude United States forces, and the trouble Israel has had in trying to subdue violence in tiny Southern Lebanon (Hezbollah) and tinier Gaza (Hamas) deepen concern that even world’s finest militaries have problems against any kind...
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...Nikki Vanessa V. Novales July 20, 2012 # 2012-42443 PI 10 E2-6R Rizal: Hidden Beneath The Surface A Reaction Paper On “Bayaning 3rd World” “Who is Rizal?” If you ask this question to any Filipino, they will most likely say, “He is our national hero” Or “He’s the person stamped on our 1-peso coin”. But is that all he really is? The movie “Bayaning 3rd World” is about two film makers trying to make a movie about Rizal. They found out, however, that this would not be an easy task, for their subject is a very complicated man. Rather than focusing on a single issue about Rizal, they decided to make a detective story about Rizal being the country’s national hero. They tackled several issues but focused mainly on Rizal’s retraction and Josephine Bracken. The movie was meant to be educational, but unlike most documentaries, “Bayaning 3rd World” is definitely not boring. The documentary was presented in a comical way, so that viewers of all ages would be able to understand it and grasp its meaning. I was confused at first because I didn’t know what the “Retraction Controversy” was and the two film makers started having these long conversations about it without explaining it to the viewers. But when I found out what it was all about, following the flow of the story became easy. Another controversy that arose was about Josephine Bracken, on whether she and Rizal were married or not. It was implied that if they were indeed married, then Rizal retracted...
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...purchasing and refinancing. McBride Financial Service has locations in five states Idaho, Montana, Wyoming, North Dakota, and South Dakota and provides low cost mortgage services. The clients that they serve are professionals purchasing a primary or secondary home, retirees purchasing a primary or secondary home, and families or individuals purchasing recreational properties. McBride Financial Service is trying to increase the customer base and needs some ideas to implement into the new marketing plan. The purpose of this paper is to critique ideas to expand the customer base for McBride Financial Services. The paper will be covering the market research that should be undertaken. The paper will show, which media type would be the best choice to use and why. The paper will also show what McBride Financial Service target markets should be, and explain why McBride Financial Services should use these markets. Finally, the paper will show the considerations for McBride to conduct a portion of their marketing on the Internet and the reasons McBride Financial Services should use these services. The first thing that will be covered in this paper is the market research in which McBride Financial Services should use. Market research contains four steps defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting, and reporting the findings. For McBride to build a meaningful relation with customers McBride must understand them and...
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...process and organization of information through the usage of computers. These management information systems are mostly numerical based and include numbers and figures relating to areas such as sales. The information is presented from raw data into a form that is easily comprehended and understood by the users, making the data collected user friendly. The usage of an MIS is that it can help managers make vital decisions about the business and monitor the progress and flow of the business. They can help high up members of staff understand the ins and outs of the business without in depth knowledge of the numerical information involved. An MIS is vital in most modern companies, but the information provided to the system has to be accurate and up to data in order for it to become truly effective and efficient. The data in the system can be used to compare different sets of data from other companies and previous years, detecting trends and spotting niche areas. Data that has been previously entered can be analysed and used to anticipate future events, this is called forecasting or predictive modelling. However the uses of an MIS can be limited, typically they are less reliable when dealing with non numerical data and the quality, reliability and validity of the information produced by the system entirely dependent on the quality, reliability and validity of the information entered into the system in the first place. Information systems are designed to improve the overall day to day running...
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...Chapter Four Managing Marketing Information to Gain Customer Insights Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 1 Learning Objectives Topic Outline • • • • • • • Marketing Information and Customer Insights Assessing Marketing Information Needs Developing Marketing Information Marketing Research Analyzing Marketing Information Distributing and Using Marketing Information Other Marketing Information Considerations Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 2 Marketing Information and Customer Insights Customer Insights are: • Fresh and deep insights into customers needs and wants • Difficult to obtain – Not obvious – Customer’s unsure of their behavior • Not derived from more information but better information and more effective use of existing information Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 3 Marketing Information and Customer Insights Customer Insights • Companies are forming customer insights teams – Include all company functional areas – Use insights to create more value for their customers – Customer controlled could be a problem Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 4 Marketing Information and Customer Insights Marketing Information Systems (MIS) Marketing information system (MIS) consists of people and procedures for: – – – Assessing the information needs Developing needed...
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...Marketing consultants – they aren’t what they used to be November 2011 Contents 1. 2. 3. 4. Bad press, for good reasons? Outside in, not inside out So what’s different? Talk is cheap – but it could be priceless For more information please contact us on: T 0115 968 5005 E contactmis@uk.experian.com www.experian.co.uk/mis Marketing consultants – they aren’t what they used to be 2 1. Bad press, for good reasons? In some quarters, the term ‘consultant’ has become a dirty word — and it is, perhaps, the business or marketing consultant that has received the worst press of all in recent years. There are valid reasons for this, not least the fact that consultants appear when we are struggling to solve a problem for ourselves. Often parachuted in by senior management, employees may perceive the consultant’s arrival as a vote of organisational no confidence in their abilities. Few people would think twice about using a specialist consultant for a medical problem, but this attitude doesn’t always transition into the workplace. Perhaps because businesses don’t need someone coming in and telling them what they already know. In many cases it feels like consultants have come in, stolen your watch, and then told you the time! We can all recount stories of a critical business issue being posed to a team of highly paid consultants who come in, disrupt the workplace for a few weeks, disappear for a couple of months and then return to tell you something you already...
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...European Journal of Marketing 29,1 8 Received June 1994 Information systems in marketing Identifying opportunities for new applications Jari M. Talvinen Helsinki School of Economics and Business Administration, Helsinki, Finland Introduction Over the past three decades, subtle changes in the theory and practice of marketing have been fundamentally reshaping companies. These changes have also been evident in marketing and management related information systems. More and more, companies are faced with the need to control an ever larger and rapidly changing marketing environment. The information processing requirements of companies are expanding as their competitive environments become more dynamic and volatile[1]. To handle the increasing external and internal information flow and to improve its quality, companies will need to take advantage of the opportunities offered by modern information technology (IT) and information systems (IS). Managing marketing information by means of IT has become one of the most vital elements of effective marketing. By collecting and sharing marketing information and by using it to promote corporate and brand image, IS offer new ways of improving internal efficiencies of the firm. Information systems allow dynamic marketing communication between personnel in corporate planning, accounting, advertising and sales promotion, product management, channels of distribution and direct sales. Information technology-based marketing information systems...
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...E-Commerce That Xiaomi Uses At 22:00 on 8th April, 2014, Xiaomi’s total transaction amount in the latest round of “Mi Fan Festival” came to a halt at 1.5 billion yuan (USD 243.35 million), setting a new domestic record for single-day transaction amount in independent e-commerce companies. 1.3 million smartphones, nearly 4.8 million pieces of accessories, all sold out in 12 hours. Xiaomi’s unique visit of the day hit 15 million. When Lei Jun founded Xiaomi in 2009, the first product was MIUI operating system. Lei Jun didn’t want to spend money on marketing, so his crew began building brand awareness in forums. Their staff spent a lot of time on forums, making comments, sending posts and advertising. And they also searched for senior users in forums and picked out 100 out of 1000 to join their operating system design and feedback. These 100 senior users were the base of MIUI operating system, and they also became the first batch of “Me Fan”, meaning Xiaomi fans. Later, Lei Jun decided to manufacturer smartphone. They used the same method to do marketing with zero budget. They set up MIUI mobile phone forum, which became the base camp of “me fan”. In 2010, MIUI forum already had 1 million registered users. Naturally, the 1 million users became the first “Me Fan” of MIUI smartphone. “Me Fan” participated in product research, development, test, spread, marketing and public relation. Except a variety of online activities, fans also organized offline city gatherings. 42% “me fan”...
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...3 Creative Business Ideas and Marketing Plan Uber: - Uber Technologies is an American International transportation company founded in the year 2009. As it’s a major creative business idea across the globe within a span of six years, uber entourage it’s services to 58 countries and 300 cities worldwide. Uber has set a trend for transportation and made several other companies to copy its business model and created business idea referred to as “Uberification”. Uber is now one of major trending creative business ideas in India to start with giving a drive across the major cities. As per CNN Money India is Uber's second biggest market after the US as the marketing plan it is going to pour one billion dollar into its market operations over the next...
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...AGRICULTURAL MARKETING INFORMATION SYSTEM (AGMARK-NET) MARKETING INFORMATION SYSTEM: A marketing information system (MIS) is intended to bring together disparate items of data into a coherent body of information. An MIS is, as will shortly be seen, more than raw data or information suitable for the purposes of decision making. An MIS also provides methods for interpreting the information the MIS provides. Definition: - By Philip Kotler A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, needed, timely and evaluate,and distribute accurate information to marketing decision makers to improve their marketing planning, implementation, and control * Interacts with information users to assess information * Develops needed information from internal and external sources * Helps users analyze information for marketing decisions * Distributes the marketing information ATTRIBUTES OF MKIS: MKIS should be a cross between what managers think they need, what they really need, and what is economically feasible. * Relevance to decision making * Reliability (genuine sources) * Clarity * Precision * Timeliness * Strategic value * Accuracy * Completeness * Authenticity COMPONENTS OF MKIS: The marketing information systems and its subsystems Figure illustrates the major components of an MIS, the environmental factors monitored by the...
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...next couple years. #2 How many additional daily visits must be generated to break even? There is an average of 1,230 visits a month, bringing in 47,037 a month in net revenue. Figure one tells us that in order to breakeven without the new marketing program the clinic will need to see 22 more patients per day, which brings it to a grand total of 67 patients that will need to be seen per day. #3 Answer the same question as in question 2, but this time assume the marketing program has been implemented. According to figure 2 in order to breakeven with the new marketing plan they would need to see 28 patients per day which is 6 more than without the marketing plan. The total of patients needing to be seen per day with this marketing plan is 73. #4 How many incremental daily visits would it take to pay for the marketing program, irrespective of overall clinic profitability? Now according to figure 3 in order for the clinic to pay for the marketing plan it would need to have 22 consecutive days in operation seeing 73 patients per day. #5 Which items in the statement were easiest to project and why? Which were the most difficult and why? What effect could mis-estimates have had on projections? Which items would cause the most damage if mis-estimated? The items in the statement that were easiest to project were the building lease, and equipment rental because the historical financial data have shown each have been consistently around the same cost. The equipment rental has...
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...4 The Development and Implementation of Marketing Information System Within Innovation: The Increasing of Innovative Performance Ondrej Zizlavsky Brno University of Technology Czech Republic 1. Introduction In his work, a prominent Czech expert on innovations, (Valenta, 2001), reached the conclusion that current tougher and tougher competition, globalization of production and markets, as well as implementation of new technologies mean that the success of businesses is dependent on effectiveness and intensity of innovation activities. Innovation is a process that is created via interactions between various actors, e.g. (Dolourex, 2004) and represents an important element of a company's future success. Each innovation is unique and specific for every entrepreneurship. American authors warn that innovation is more than just an idea or thought. It is bringing an idea to life (Tidd & Bessant, 2009). Currently, innovation is considered a decisive condition of a competitive advantage in entrepreneurship. This is stressed by prominent Czech, as well as foreign experts; e.g. (Hamel & Green, 2007; Kislingerova, 2008; Kosturiak & Chal, 2008; Skarzynski & Gibson, 2008). The course of the fading economic crisis that negatively impacted operation of current business unambiguously supports the inevitability of innovations. A company that strives to maintain and strengthen its position on the market has to implement a suitable innovation policy that would enable it to achieve a more advantageous...
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...organization needs or serve all of its interests, unique systems are used to handle the differing operational, management, and strategic-level needs. [Figure 2-1] FIGURE 2-1 Types of information systems 3 Different Kinds of Systems • Organizations can be divided into strategic, management, and operational levels and into four major functional areas: sales and marketing, manufacturing and production, finance and accounting, and human resources. Information systems serve each of these levels and functions. • Operational-level systems support operational managers’ needs for current, accurate, and easily accessible information primarily used to keep track of the elementary activities and transactions of the organization. Management-level systems serve the monitoring, controlling, decision-making, and administrative activities of middle managers. • • Strategic-level systems help senior managers with long-range planning needed to meet changes in the external and internal business environment. There are also different information needs for the various business functions: sales and marketing, manufacturing, finance, accounting, and human resources. • • A large organization typically has operational, management, knowledge, and strategic level systems for each of these functional areas. Prepared by: Mrs Sanjana Motee Bedaysee 4 Four Major Types of Systems • Four major types of...
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...Classic Airlines and Marketing Paper Your Name University of Phoenix MKT/571 Your Instructor Date Classic Airlines and Marketing Classic Airlines has seen decreases in its profit shares and Classic Rewards members than in the past (University of Phoenix, nd., p. 1). Such decreases have had a significant impact on customer satisfaction levels and organizational profits. Therefore, senior executives, marketing, and financial analysts must use the appropriate marketing approach to address such issues and concerns of the organization potentially filing for bankruptcy. The senior management and analysts at Classic Airlines must use the organizational data to address the organization’s dilemmas; meanwhile, implementing marketing concepts that will be in the best interest of the commercial airline. Marketing Concepts Related to Classic Airlines The marketing concepts that have been identified in this scenario are a combination of various concepts and information systems, such as those described in this week’s required text readings. However, one of the marketing concepts that can be related to the Classic Airlines scenario is the holistic marketing concept. “The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies” (Kotler & Keller, 2006, p. 17). This marketing concept has four components which are the following:...
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