...| Strategic Marketing | | | | | 1. The usefulness of two forecasting methods Forecasting, if correctly implemented, allows companies to strategize ahead of their prerequisites, fostering their probabilities of keeping strong through all markets (Johanson&Vahlne, 2011).There are several diverse methods by which anindustry forecast can be made. However, in this report, the usefulness of two forecasting methods is evaluated. They are discussed below: Market Research: Market research is the process of evaluating the sustainability of a first-hand product or service through methods such as reviews, product analysis and focus groups. It enables a firm to determine who their target market is and how these customersconsidermerchandise or service before it becomes accessiblein theopen market. Market research may be done by the business itself or by a third-party enterprise. Market research has a major to play in sustainingeffectiveness over rival companies as itofferssignificantmaterial to recognize and study the market need, market size and competition (Zott, Amit& Massa, 2011).For instance, a firm that is planning to start-up a business might take the help of market research first to check the feasibility of its product or service idea. If the market research endorses that business'sforecasts, they can continuepositively with their commercialidea. If not, they can utilize the outcomes of the market research to make alterations and do further testing...
Words: 2235 - Pages: 9
...Executive Summary This report is a well-researched report presented with the facts of strategic management. I have discussed the role of strategic management in organisations. There are few strategies described in the report as well. I have read a lot of books and journals therefore I have mentioned a few in the reference list. There is also a case study for the body shop. It has been critically evaluated on the strategies. Moreover, the report is a business report with a well research topic. Contents page Introduction-…………………………………………………………………………….1 Findings-…………………………………………………………………………………1 * What is strategy? .......................................................................................1 * What is strategic management? ...............................................................1 * What is operational strategy?....................................................................2 * Discussing the kinds of strategies………………………………………….2 * Body shop case study………………………………………………...……..2 Conclusion………………………………………………………………………………..3 Reference list…………………………………………………………………………….3 Introduction In this paper, I will briefly be discussing the two questions given. The first will be about strategy and strategic management and second will be the case study for body shop. I will be analysing both of the questions to the best of my knowledge. Furthermore...
Words: 1048 - Pages: 5
...STRATEGIC MANAGEMENT TABLE OF CONTENTS INTRODUCTION 1 TASK 1 1 1.1 Application of tools 1 1.2 Appreciation of the impact of global forces and innovation 3 1.3 Research Skills 4 TASK 2 5 2.1 Meaning and classification of strategic capabilities 5 2.2 Value of capabilities to stakeholders and difficulty of imitating capabilities 5 2.3 Capabilities in a dynamic context 7 2.4 Diagnosing organisational capabilities 7 TASK 3 8 3.1 Discussion and application of models 8 3.2 Critical evaluation of models in the context of deliberate and emergent strategy 10 3.3 Brief discussion of managing strategy development and implementation 11 CONCLUSION 12 RECOMMENDATIONS 12 REFERENCES 13 LIST OF FIGURES Figure 1: Five force Model 2 Figure 2: Porters generic model 8 INTRODUCTION Strategic management is the objectives framed by the top executive on the behalf of their owner which are based on the resources available. This is done by assessing the internal and external environment of the organisation where they use to compete(Boyne and Meier, 2009). It provides the overall direction to the management of the firm by covering the aspect of business objective. Strategy also helps in the developing of proper policies and plans which helps in achieving the goals by proper allocation of the resources. Mark and Spencer is the biggest retailer company operating in UK. They are the largest retailers of clothing, food and in many other varied areas. In the year 1998 their pre tax profit...
Words: 4889 - Pages: 20
...NAME : NELIUS WACHUKA. NJOROGE. ID NUMBER : B0505RORO0410 TO : DAVID ACQUAYE COURSE : STRATEGIC INFORMATION MANAGMENT DUE DATE : 25/10/2010 SUBJECT : STRATEGIC PLANNING PROCESS OF DELL. EXECUTIVE SUMMARY Every organisation has different processes it uses to be successful and there are some that are quite essential for a business to identify what it is doing right and what it is not doing. Through this process clearly analysed in Dell Corporation in this report it is able to help a business grow, and thus by identifying all this factors a business is able to make starategic decisions on what is best for the business and develop goals that will help move the company forward. So by looking at Dell we will be able to identify all this important processes and thus run a successful business. INTRODUCTION. Dell which was formed by Michael Dell in his university dorm room as shown in http://www.bizface.co.uk/bizfaceforum/blogs-leading-articles/43905-famous-dell-case-study-finance-case-study-dell-s-dilemma-brazil-del.html in 1984 when he was only 19years and is now one of the biggest computer seller worldwide. It has over 100,000 employees in the world and sells 110,000 systems daily to over 180 countries. In its’ second quarter of the fiscal year ended 30th June 2010, dell generated a net income of $545 million. All this huge figures just show how big a corporation dell is and many may ask what were the factors that attributed to this dells’ success...
Words: 2776 - Pages: 12
...Understand the importance of strategic management to a small business. 2 Explain why and how a small business must create a competitive advantage in the market. 3 Develop a strategic plan for a business using the 10 steps in the strategic planning process. 4 Understand the Entrepreneurial Strategy Matrix and how to apply it. 5 Discuss the characteristics of three basic strategies: low-cost, differentiation, and focus. 6 Understand the importance of controls such as the balanced scorecard in the planning process. Few activities in the life of a business are as vital—or as overlooked—as that of developing a strategy for success. Too often, entrepreneurs brimming with optimism and enthusiasm launch businesses destined for failure because their founders never stop to define a workable strategy that sets them apart from their competition. Because they tend to be people of action, entrepreneurs often find the process of developing a strategy dull and unnecessary. Their tendency is to start a business, try several approaches, and see what works. However, entrepreneurs without a cohesive plan of action have as much chance of building a successful business as a defense contractor without blueprints has of building a jet fighter. Companies lacking clear strategies may achieve some success in the shortrun, but as soon as competitive conditions stiffen or an unanticipated threat arises, they usually "hit the wall" and fold. Without a basis for differentiating itself from a pack of...
Words: 252 - Pages: 2
...ABOUT TOMTOM: TOMTOM business units sell PNDs to consumers via retailers and distributors. Tele Atlas sells digital maps and related content and services to various industries. WORK offers professional solution for commercial fleets. AUTOMATIVE develops and sells navigation systems and services to car manufacturers and OEMs worldwide. Handset manufacturers and network operations are services with mobile navigation solution , map content and services by the business units TOMTOM and TELE ATLAS.TOMTOM financial performance: looking at profitability and financial strength. From 2005 to 2007, the company had a consistent growth in revenue sales with a corresponding increase in net income. This changed from 2008 with a decline in sales revenue of 3.7% and a net income decrease of 136%. This can be accounted by the downturn of the economy but also indicates that TOMTOM did not change its strategy quick enough to absorb the changes in the economy. Sales revenue further decreased in 2009. Also look at competitive strength, TOMTOM is suffering from continuous pressure from competition and decrease in retail prices of GPS units. GARMIN is still the leader with market share of 45% while TOMTOM has a market share of 24%. Based on the above, TOMTOM has a competitive strategy but not a total winning strategy. They need to look at the industry and be more pro-active at market changes and other threats which they identified. TRENDS: Demand for portable navigation devices have declined as traffic...
Words: 1748 - Pages: 7
...Strategic management accounting |by Mark Lee Inman | | |01 Nov 1999 | | |Strategic Management Accounting has been defined as "a form of management accounting in which emphasis is placed on information which| |relates to factors external to the firm, as well as non-financial information and internally generated information." | |Back in 1981, Ken Simmonds, probably the pioneer writer on the subject, developed the above definition. He saw it as the collection | |of management accounting information about a business and its competitors for use in developing and monitoring the business strategy.| |The emphasis was placed upon relative levels and trends in real costs and prices, volume, market share, cashflow and stewardship of | |the resources available to the business. | |More recently (1994) Professor Bromwich pointed out that adding the strategic perspective to traditional management accounting | |required the role of accounting to extend in two directions. First, costs need to be integrated into strategy through strategic cost | |analysis, and thus align costs with strategy. Secondly, to ascertain, albeit in a fairly general...
Words: 4358 - Pages: 18
...Chapter 7: * Merger: a strategy through which two firms agree to integrate their operations on a relatively co-equal basis * Acquisition: a strategy through which one firm buys a controlling, or 100% interest in another firm with the intent of making the acquired firm a subsidiary business within its portfolio. After acquisition, management of the acquired firm report s to the management of the acquiring firm * Takeover: a special type of acquisition when the target firm did not solicit the acquiring firm’s bid for outright ownership * Friendly acquisition: the management of the target firm wants the firm to be acquired * Unfriendly acquisition (hostile takeover): the management of the target firm does not want the firm to be acquired (direct negotiations with the firm’s owners; tender offer; bear hug) Explain the popularity of acquisition strategies in firms competing in the global economy * There are seven reasons why acquisitions in firms competing in the global economy work * Increased Market Power: * This is the primary reason for acquisition * If a firm achieves enough market power, it can become market leader * Example: AT&T acquisition with T-Mobile made them in the lead with market share in w-ireless service providers * Also, not only would their market share increase, but their customers would increase by 1/3 and all cell towers and wireless spectrum that t-mobile had would also turn to AT&T ...
Words: 7561 - Pages: 31
...CASE 1 : THE GLOBAL PHARMACEUTICAL INDUSTRY : SWALLOWING A BETTER PILL 1. INTRODUCTION The global pharmaceutical industry is a multinational industry that develops, manufactures, and sells drugs licensed for the treatment. Pharmaceutical companies can sell generic or patent medicines. Health products of the pharmaceutical industry is very often found on the market in the world so that makes the brand of the pharmaceutical industry they are known in the world because of the many products sold are certainly many benefits. As we know there are many companies working in this field. Among the companies that are well known, namely Bayer Healthcare, Johnson & Johnson, Pfizer, Novartis, Hoffmann-La Roche, GlaxoSmithKline, Sanofi-Aventis and many more. The names of these companies are not necessarily familiar to the public. Among the names of global pharmaceutical companies are already very well known, many of which are based in United States. With reasonable price, not too expensive or cheap and very easy to find. Medicinal products from global pharmaceutical companies to be very favorite countries in the world. But of course if explored further, something will have positive and negative, strengths and weaknesses also have external influences whether it be an opportunity or a threat. In this paper will explain a little about the SWOT analysis of the global pharmaceutical companies along with solutions and recommendations. 2. SWOT Analysis SWOT analysis is the analysis...
Words: 1624 - Pages: 7
...Definition of Market Orientation: A company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Unlike past marketing strategies that concentrated on establishing selling points for existing products, market orientation works in reverse, attempting to tailor products to meet the demands of customers. In essence, market orientation can be thought of as a coordinated marketing campaign between a company and its customers. We can find many different definitions for market orientation as stated below by: - Kohli and Jaworski (1990) defined market orientation as "the organization-wide generation of market intelligence, dissemination of the intelligence across departments and organization-wide responsiveness to it" - Narver and Slater (1990) defined market orientation as "the organization culture that most effectively and efficiently creates the necessary behaviors for the creation of superior value for buyers and, thus, continuous superior performance for the business." Measure Market orientation: In order to measure market orientation, the two most widely used scales are MARKOR and MKTOR. Constructs for market oriented behavior are based on the widely accepted MARKOR scale of Kohli, Jeworski, and Kumar (1993). Drawing on the expert interviews, a few adaptions were made, in order to accommodate the characteristics of new high-tech ventures, & generally more informal activities were integrated. We prefer the original...
Words: 508 - Pages: 3
...שאלה 5 חברת IMG החלה את דרכה בניהול ספורטאים, אך לאט לאט הרחיבה את פעילותה ונכנסה לתחומים רבים ומגוונים כגון ייצוג אמנים ודוגמניות, בעלות על אירועי ספורט ואופנה, קנייה והשכרה של איצטדיונים, הקמת אקדמיות ספורט, שידורי טלויזיה ועוד. ההגוונה בעסקיה של החברה, יחייב אותה לשנות את המבנה האירגוני, שכן ריבוי עסקיה של החברה יכול לגורם ליכולת מוגבלת של מנהלי המחברה לעבד את הזרם המתגבר של המידע האסטרטגי ולהתמודד עם ההגוונה המוגברת. בידי המנהלים לא יהיה את הזמן והמידע המספיקים כדי לתאם את הפעילות היומיומית ולפקח עליה. יתקיים קושי לתכנן ולבצע תיכנונים לטווח הארוך וכמו כן קיים קושי לפקח ולתאם פעילות בין המחלקות השונות (ניהול כמה ״קווי מוצרים״ במקביל). דבר זה יכול להוביל למצב בו הנהלת הארגון הופכת לצוואר בקבוק בתהליך קבלת ההחלטות ותתקשה להתאימו לשווקים משתנים ומתחדשים. על כן ארגון מסוג זה יש שיפעל במבנה רב חטיבתי אשר מורכב מחטיבות תפעוליות ((sbu, בו כל חטיבה מייצגת עסק או מרכז רווח נפרד, כאשר מנהל התאגיד מאציל את הסמכויות לתפעול השוטף ברמת היחידה למנהלי החטיבות. המבנה החטיבתי יתאים לאסטרטגיה מגוונת המתמקדת במגוון מוצרים/שירותים. ארגון בעל אסטרטגיה מגוונת יפעל באופן יעיל במידה ויתארגן במבנה חטיבתי תוך יצירת תיאום בין מגוון הפעולות הנוגעות למוצרים השונים. ניתן אכן לראות כי בכדי למנוע את הבעיות שצוינו לעיל, חברת IMG אכן חילקה את עסקיה ל-12 חטיבות אוטונומיות קטנות (מחלקת סקי, גולף, ספורט קבוצתי, שידורי טלויזיה, טכנולוגיה ועוד), כאשר כל אחת אחראית על תחומה. במבנה כזה ישנו חשש לחוסר יעילות תקציבית, שכן מכיוון שכל חטיבה פועלת באופן אוטונומי יתכן הוצאות רבות על פעילויות דומות, ריבוי מנהלים ותפקידים...
Words: 1017 - Pages: 5
...EasyJet underlines advantage over budget competitors as profit soars EasyJet underlined its growing advantage over budget rivals, reporting annual profit at the top end of forecasts and returning cash to shareholders. The upbeat assessment is in contrast to that given by Ryanair, Europe's biggest budget airline, which this month cut its annual profit target for the second time in two months and admitted it needed to improve customer service. Rival airlines have been struggling with high fuel costs and weak consumer confidence, sending some smaller carriers out of business while the likes of British Airways owner IAG and Air France-KLM have cut routes, leaving gaps that low-cost airlines have been quick to exploit. Over the last three years easyJet has added flights on routes where rivals have cut back, and introduced more flights between top business destinations. It has also added flexible ticketing to allow passengers to change their flight up to two hours before scheduled departure time, and allocated seating in an attempt to steal corporate customers. EasyJet proposed a full year dividend of 33.5 pence a share, 55.6pc up on last year, and a special dividend of 44.1 pence per share, making a total payout to investors of £308m. It said forward bookings were in line with last year but that its first quarter would be impacted by tough year-on-year comparisons due to strong post-Olympics demand in the UK and travel restrictions to Egypt. However, EasyJet still expects to...
Words: 262 - Pages: 2
...srt THE COHESION CASE: ADIDAS GROUP - 2011 Evaluation of Vision/Mission Statement 1. The Adidas Group strives to be global leader in the sporting goods industry with brands built on a passion for sports and a sporting lifestyle. * Market * This mission component clarify that AG compete with other competitors such as Nike, Under Armour (UA), Callaway Golf (ELY), and the Armani Group. 2. We are committed to continuously strengthening our brands and products to improve our competitive position. * Products or services * In this component of mission statement, Adidas Group has sold three main product groupings to their customers which are footwear, apparel and hardwear. * For example, Adidas even become the major supplier of team kits for international football teams to remain international competitive. 3. We are innovation and design leaders who seek to help athletes of all skill levels achieve peak performance with every product we bring to market. * Technology * Regarding to the component in this statement, it can be seen that the new Adidas product is the Adizero Feather, the lightest everyday running shoe weighing only 160g which enables the athletes to run faster and improve performance. 4. We are consumer focused and therefore we continuously improve the quality, look, feel and image of our products and our organizational structures to match and exceed consumer expectations and to provide them with the highest value. * Customers ...
Words: 421 - Pages: 2
...Version 1.0 January 14, 2016 Version 1.0 January 14, 2016 Presented by: Naveed Zahoor BSit section # b Bsit-13-f-125 Presented by: Naveed Zahoor BSit section # b Bsit-13-f-125 Strategic management of Microsoft short study of microsoft Strategic management of Microsoft short study of microsoft Contents Introduction to Microsoft 2 Analysis of VISION, Mission and Core Values 4 Vision STATEMENT: 4 Core Values 4 mission statement 5 Industry Structure (Five Forces Analysis) 5 Industry rivalry: (HIGH) 5 Threat of New Entrants: LOW 6 Threat of Substitutes: LOW 7 Bargaining Power of Suppliers: LOW 7 Bargaining Power of Buyers: LOW 7 Competitive profile matrix 8 CONCLUSION: 10 Introduction to Microsoft Microsoft Corporation is a software company which is located in Redmond, Washington DC. Microsoft's most prominent product, the Windows operating system, is the single most popular operating system being used for home desktop , laptops and handheld devices use. Its other desktop products, namely * Microsoft Office, * Internet Explorer, * Security essentials * Windows Media Player These product come either pre-installed with the Windows operating system, or are often sold together with Windows as preinstalled software on new computer systems. Additionally, the company manufactures and sells computer hardware such as keyboards and mice. Microsoft owns or possesses interest in several content-distribution channels such as...
Words: 2409 - Pages: 10
...SWOT Analysis کسب و کار کوچک و کارآفرینی ساغر سبحانی، صدف شیخ زاده، پانیذ فضل علی پاییز 94 فهرست مطالب نقاط قوت 3 نقاط ضعف 3 فرصت ها 4 تهدیدها 5 فهرست منابع 5 نقاط قوت * محل احداث کارخانه، زمینی در محدوده قطب صنعتی اطراف شهر اصفهان خواهد بود که به دلیل وجود صنایع مختلف تولیدی، دسترسی به امکانات حمل و نقل، توزیع و پخش محصول، روند فعالیت های مختلف سازمان را تسهیل می کند. به علاوه قیمت خرید زمین و محوطه لازم جهت احداث کارخانه، در مقایسه با کلان شهر تهران ارزان تر خواهد بود و متعاقباً می توان از نیروی های انسانی متخصص و علمی موجود در شهر اصفهان جهت استخدام با هزینه های سربار کمتر و به صرفه تر استفاده نمود. * با توجه به اینکه روش های به کار گرفته شده در این طرح جهت تهیه و تولید شیره خرما، روش های صنعتی به جای روش های سنتی معمول است و همچنین استفاده از خرمای مرغوب به عنوان ماده اولیّه تهیه محصول، به جای ارقام نامرغوب مورد توجه جدی قرار خواهد گرفت، کیفیت محصول پیش بینی شده بسیار بالا خواهد بود و به عنوان مزیت رقابتی در بازار شیره خرما محسوب می گردد. * انجام پاستوریزاسیون به منظور افزایش ماندگاری و عدم استفاده از هر گونه مواد نگهدارنده شیمیایی، روش های پاکسازی، سم زدایی و بسته بندی، سبب افزایش کیفیت محصول نسبت به محصول های مشابه در بازار می شود. * استفاده از نیروی های متخصص و تحصیلکرده به خصوص در زمینه کارآفرینی که در رشته مدیریت و بازرگانی تحصیل کرده اند، می تواند موفقیت طرح را تضمین نماید. * قیمت متوسط جهت فروش (قیمتی بیشتر از بازار داخلی و کمتر از بازار خارجی )که در تولید و فروش محصول پیش بینی شده است و قرار است آن را در مقایسه با همتایان محصولی موجود در...
Words: 1369 - Pages: 6
