STRATEGIC MANAGEMENT & MARKETING

Strategic Management & Marketing

Strategic Management & Marketing

Introduction

Since the internet revolution, the world has witnessed an enormous change which has made things easier for the masses. With the click of a button the tedious work is done in a matter of minutes and now everything can be done from money transactions to trading online. Similarly, eBay Inc was the pioneer in introducing a forum where trading could be done even by sitting in ones television room. This particular website gained popularity instantly and due to which many people are connected and trade every day. Also the company kept updating itself with the new trends in the market, so they would be able to retain the customers.

Discussion

Moreover, this company which took the world by storm was found in California and was initially named as Auction Web. It got an instant response from the customers and over the time also gained relative popularity. As the company developed over the time, it implemented some strategies which made a difference and goals were able to meet on time and efficiency was prioritized. Also it kept itself from being obsolete by updating itself according to the newest market trends and also diversified itself.

Therefore, the main idea of a capabilities in strategic management is a way which allows them to express their companies competitiveness which further allows them elaborate on the lines on they are working on. Strategic management and marketing allows the company to know where they stand and what their capabilities are on which they can further elaborate and come up with better solutions.

Strategic capabilities: refers to the resources needed by the organization to survive and prosper. The company has high-level routines, resources which can be either tangible or intangible and competences that are recognized as important in order to create and sustain a competitive advantage. This allows the company to develop a plan on which they can implement in their routine and further the goals on the day are achieved and time is saved. eBay relies on efficiency and effectiveness as their work is the best thing they can offer due to its unique capabilities and affective customers retention.

Operational capabilities: High-level routines, resources and competences that yield the firms operational functions. Operations are key of any successful company, so it is important that the operational side should be prioritized as well and therefore it should be improved over the time by using new and innovative steps in order to enhance the performance. Operations also include logistics, and they provide deliverance of goods on the customers door step for which they charge a nominal fee.

Dynamic capabilities: High-level routines, resources and competences that allows a firm to modify its existing operational capabilities. Essentially, strategic capabilities express what a firm wants to be able to do, while operational capabilities determine what it is actually able to do. Dynamic capabilities express the capability to close the gap between existing operational capabilities and desired strategic ...