Strategic Marketing
Assignment # 1
Submitted By: Hira Ahmad
Submitted to: Prof:Khurram
Hamid
Section : A
Dated : 02-11-2010
Question:
How does a strategic plan enable an organization to
coordinate its efforts?
Answer:
A company’s strategy is management’s action plan for running
the business and conducting operations. The crafting of a strategy
represents a managerial commitment to pursue a particular set of
actions in growing the business, attracting and pleasing customers,
competing successfully, conducting operations, and improving the
company’s financial and market performance. The heart and soul of
any strategy are the actions and moves in the marketplace that
managers are taking to improve the company’s financial
performance, strengthen its long-term competitive position, and gain
a competitive edge over rivals. A creative, distinctive strategy that
sets a company apart from rivals and yields a competitive advantage
is a company’s most reliable ticket for earning above-average profits.
A company’s strategic plan is shaped partly by management analysis
and choice and partly by the necessity of adapting and learning
by doing.
Because a strategic planning process looks at the big picture, it is
useful to get external input into the process. It is easy for those of us
who are involved in the work of the project or organization to lose
sight of the overall picture and to think about the issues from the
point of view of our own work only. Getting someone in with a wider
view and wider concerns may open doors to new ideas and ways of
thinking. This helps to keep an organization at the cutting edge of
development work. The external input should make it clear what the
opportunities, challenges and threats in your organization’s external
context are. Organizing external input should be the work of the
group or person planning the process.
Strategic planning tends company to set its vision and mission
statement and to identify some of the values
VISION: What is an organizational vision. They have a vision of how
society could or should be in the future.
Mission: A mission statement describes what the organization does,
with whom or for whom it does it, and, in broad terms.
Values: Your organizational values are the shared values that
underpin your work as an organization and your relationships with
users and other stakeholders.
Strategic planning makes enable a firm to make such reviews analysis
about its operations and about its environment. Review of the work
already done and of how the internal system of the project or
organization is functioning. It is this review that enables you to do a
SWOT. you look at the impact and effectiveness of the work you are
doing. you look at the efficiency of the way in which the work is done.
If you have gone the route of an external evaluation, let the external
evaluator present a summary of his/her findings, conclusions and
recommendations for discussion. It is probably best if people have
already read the written report. If the evaluator has already done a
presentation, then focus discussion around the conclusions and
recommendations during the strategic planning process.
Strategic planning tends to set some of the objectives of the firm and
then management motives its employees to achieve those goals. Those
goals became benchmarks of the success of the firm. Another element
in the planning parameters is assumptions. Assumptions are external
conditions that your organization cannot control but which it assumes
will exist and which are necessary to the success of the project
The strategic planning also forces firm to take notice of some critical
issues about firm like to identify strengths and weaknesses of the
organization or project, core problem affects the lives of a significant
number of people either directly or indirectly can be addressed
through the competencies and resources of the organization or
project
Strategic planning is provide an easy guideline for all officials so
they are have very much frame of mind about their duties and
objectives. The mechanism of reward management is become easier
for the management because they have already settled the objectives
and they have been evaluating the performance with the passage of
time. So strategic planning makes possible a very transparent system
of reward allocation.
Conclusion:
Strategy is the direction and scope of an organization over the long-
term which achieves advantage for the organization through its
configuration of resources within a challenging environment, to meet
the needs of markets and to fulfill stakeholder expectations so this is
strategic planning is all about.
