MARKETING STRATEGY

Marketing Strategy

[Name of the University]Marketing Strategy

Introduction

In the context of the contemporary business environment the factor of globalization has drastically changed the modern practices and strategies. In the modern era the organizations have to adequately identify the majority of the global forces, which have a significant impact on the organizational objectives. In the traditional perspective the business environment generally consisted of a stable and regionally independent market, however with the advances in technology and globalization forces, the contemporary organization have to function in a highly competitive and regionally diversified environment (Morgan, 1993, pp. 111). In order to cope with eth challenges of the current organizational environment, the management has to rely on highly systemized and meticulous approach. In this scenario the long term and short term ideologies and objectives of the company become highly significant as they influence the development of the adequate organizational infrastructure and the core ideology that will be followed by the company.

Discussion

Task 6

Mission & Vision Statements

In the context of the contemporary global business environment, the strategic direction can be identified as one of the most significant factors, as they provide the management with a general guideline for making the majority of the organizational decisions. The mission and vision statements provide the management with a specified strategic direction, and help them develop the eventual organizational goals and objectives. The vision statement provides the long term goal of the company, and is developed so as to encourage and motivate the employees. The vision unlike the mission statement does not have to be short term in nature or highly feasible, certain organizations seek to adopt highly ambitious visions so as to empower and motivate the work force. The mission statement provides the general guidelines on how the company seeks to achieve its developed vision.

Organizational Objectives & Goals: Significance of Core Competence

The organizational goals and objectives are generally considered as relatively low level management initiatives; as they are formed by the strategic guideline set by the organizational mission and vision. The specific objectives developed by the managers help them achieve the departmental or short term objectives, and develop a highly systemized and scientific management environment (Shopley & Ross, 1997, pp. 119). These initiatives also help provide a comprehensive work schedule for the employees, as they are adequately aware of their organizational responsibilities. The specific organizational goals and objectives also allow the employees to attain constant feedback on their relevant performances and in the process attain the relevant information to adequately enhance e their performances.

Task 7

Significance Strategic Management & Issues

Strategy is generally defined as the long term direction and objective of the organizations, which is developed by a critical analysis of the internal resources and the adequate external business environment. Strategy formation is the core objective of any business organizations, as they have to develop a plan on how they will enter the business market and seek to develop a competitive advantage. Without the development of a viable and feasible organizational strategy the business entity is highly likely to ...