The Management of Strategy in the Market Place

The Management of Strategy in the Market Place

Introduction

The term Strategic management is not new. In 1970, this term first used as “Strategic programs” and then tried used to sell strategies to decision makers. Strategic management is a systems approach to making and identifying the necessary changes and for measuring the organization's performance as it moves toward its goal or vision. If we consider era after 1990 the meaning and working of strategic planning and strategic management is very different.

According to Goodstein, definition of strategic planning which leads us away from the idea that strategic planning is a staff job, it focused on a process required by the senior leaders of the organization to set its direction of strategy. They state the definition as: This is the process by which the members that guide organization in achieving the vision, and developing the necessary operations and procedures to achieve bright future (Goodstein, L., D., et.al, 1992).

Discussion

Benefits of Strategic Management

When an organization is practicing management of strategy, thinking becomes more visionary for the future; it gets the following benefits easily:

Very vast thinking about its future and organizational boundaries are more flexible for its organization.

It can focus on optimized organizational process quality and performance as a factor for delivering quality products and services.

It can shift focus easily on the inputs required to run business and outputs that leading towards achievements of goals.

A movement towards an organizational culture that allows convenience to make changes for the betterment.

Leading edge trends for integrating social media into traditional marketing and advertising campaigns

This time is very competent, and every organization has many competitors in the market. If any organization does not focus on developing strategies, it cannot get its share from market easily. Here, we discuss some very effective strategies that can boost organizations growth.

Using social websites for marketing

The most populated platform in today life is the platform of social websites, approximately every one in a family either he is an elder person or a child, can easily access world through social websites. Like different organization, if an organization uses social websites like twitter and face book as a strategy for marketing, it can easily get fame. Today, many emerging companies uses the factor of the number of members on their page as the factor of its growth.

Using mobile or smart phones as a strategy

As noticed that purchases made from mobile phones are accelerating day by day, but it is still a small percentage that organizations can achieve in total online sales. Mobile commerce will have its major effect on commerce as an in-store research tool. If an organization uses short message service or multimedia message service, then it is very beneficial as considered according to the investment (as it requires very less investment) and can reach peoples very easily to convey our message.

Magnetic Content

This is very effective strategy to achieve attention of the clients for organization. Personals in marketing must be prepared to create contents that work like a magnet ...